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Wildfire Risk is Growing for U.S. Homeowners

Wildfire Risk is Growing for U.S. Homeowners

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.

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Mandatory Natural Disaster Evacuations Prove Costly for Homeowners

Mandatory Natural Disaster Evacuations Prove Costly for Homeowners

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).

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Rising Flood Waters Shine Light on Flood Insurance Gap Across the Country

Rising Flood Waters Shine Light on Flood Insurance Gap Across the Country

Flooding, the most common natural disaster in the U.S., can have huge consequences for homeowners, businesses, and communities. With the emergence of climate change and increase in severe weather, flooding is impacting ever widening areas, but at least 85% of homeowners still lack flood insurance. Flood insurance empowers families and communities to recover and thrive in the wake of disaster.

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Are Your Clients Actually Covered for Their Home-Share Rentals?

Are Your Clients Actually Covered for Their Home-Share Rentals?

Homeowners seeking to bring in extra income by renting their homes through sharing services often don’t realize the serious financial risks they’re running. Homeowners assume their insurance will protect them when their home is rented, but the reality is they may be liable for any damages or injuries on their property while renters are staying there. Most homeowners’ policies have property and liability exclusions for business use, including rentals. This includes vandalism and theft of personal property while rented. Home-share sites may offer to repair or replace damage caused by a guest, but those promises aren’t an insurance policy, and homeowners will have to carefully follow the requirements to obtain reimbursement.

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Wildfire Risk is Growing for U.S. Homeowners
Wildfire Risk is Growing for U.S. Homeowners
Carriers Shift More Risk Onto Builders For Multi-Family Frame Projects
Carriers Shift More Risk Onto Builders For Multi-Family Frame Projects