The Clark Howard Podcast
04.02.25 Home Insurance - New Considerations / Caution: Meme Coins & Crypto
Apr 2, 2025
Explore the rising costs of homeowners insurance and avoid common pitfalls when choosing coverage. Discover how natural disaster risks are impacting premiums and gain insights into navigating mortgages. Dive into the complexities of meme coins and crypto, as they are touted as alternative investments. Unpack the potential risks and rewards of quick wealth accumulation, and learn about savvy financial strategies like Health Savings Accounts versus Flexible Spending Accounts.
30:26
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Quick takeaways
- Homeowners are advised to review their insurance strategies, focusing on deductibles and coverage to mitigate the impact of rising premiums.
- Investors should exercise caution with meme coins and crypto, as the speculative nature of these investments poses significant risks and potential losses.
Deep dives
Rising Homeowners Insurance Costs
Homeowners insurance rates are experiencing significant increases in various parts of the country, with some areas seeing hikes of over 600%. For example, New Orleans faces an estimated increase of 634%, while Miami will see a 590% rise. Even regions in Texas, such as Galveston, which have suffered from flooding, will experience substantial increases. Consumers need to consider not just the initial house purchase price but also the ongoing costs associated with home ownership, including these escalating insurance premiums.
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