Flooding continues to be one of the most significant risks property owners face. According to the National Flood Insurance Program (NFIP), 90% of all U.S. natural disasters involve flooding (source 1). Many people assume that only those who live in coastal areas or near bodies of water are vulnerable to flooding, but that’s not actually the case. In fact, 98% of counties in the United States have been impacted by flooding at some point (source 2).

In the summer of 2014, a near-perfect copy of Action Comics No.1, the first comic book featuring Superman in 1938, was listed for auction on eBay. Bidding began at less than $1. Within 2 hours, it had skyrocketed to $1.6 million. The comic ultimately sold for more than $3.2 million, making it the most expensive comic ever sold at the time. This is a prime example of how collectibles like comic books, sports memorabilia, fine art, or other items can become more valuable over time. Collectibles can also be rich in nostalgia, history, and memories, making them priceless to an owner (source 6). Once a collection becomes valuable, it’s wise to see that it’s adequately insured.

More people are making claims on their homes in Florida than in any other state. Unfortunately, The Sunshine State leads not only in population growth but also in soaring homeowners insurance rates and claims litigation. Those trends have combined to create widespread turmoil in Florida’s property insurance market that the State is now seeking to quell with a reform package. On Dec. 14, 2022, Florida Governor Ron DeSantis signed property insurance reform bill Senate Bill 2-A into law. The new law seeks to cut down on lawsuits while mandating that insurers process and pay claims faster, but property owners will also have to take a more active role. This means partnering with knowledgeable wholesale brokers able to provide guidance on how the reform law impacts property owners will be more important than ever.

Americans are facing one of the most challenging housing markets in years due to high home prices and rising mortgage rates, but those aren't the only issues impacting purchasing decisions. In today's market, more than 75% of home buyers are actively considering natural disaster risks when choosing where to buy as climate change makes floods, mudslides, and increasingly – wildfires a key factor to keep in mind.

When a fast-moving wildfire threatens a community, residents may have only minutes to seek safety. It’s an all-too common scenario for Californians and others in the West, who have suffered through more than one devastating fire season. California’s 2018 Camp Fire, the most destructive wildfire in history, burned 6,700 structures while Southern California wild fires burned 177 structures, with losses for these fires totally around $7 billion (source 3). 2019 was a much milder wildfire season, especially in comparison to 2017 and 2018; however, California remains the top state in the country for extreme wildfires with more than 2 million properties at risk (source 7).