This is not an impending crisis, it has been here and it will worsen. My brother could not get much help from FEMA and none at all from Red Cross when his home suffered major damage in the flood that hit the Southwestern Minnesota area.
Going on right now! PRAY TEAM JESUS! Flash Flood Emergency issued for Roswell, NM area
Cowboy State Daily Reports
Their American dream could literally go up in flames.
Bridget and Steve Snyder bought a little cabin 11 years ago and started a new life together in Story, Wyoming, a small town about 15 miles south of Sheridan.
Not long after, Steve’s mom had a quintuple-bypass heart surgery and his stepdad developed multiple myeloma related to Agent Orange exposure in Vietnam. More Here
Premiums have risen the most for homeowners in areas with the highest risk of natural disasters such as hurricanes or wildfires. While premiums have always been higher in riskier locations, the relationship between disaster risk and premiums has grown stronger over time.
Just how doomed is home insurance?
Insurance ‘nightmare’ unfolds for Florida homeowners after back-to-back hurricanes
Judge says he’s leaning toward nixing FEMA rule denying fire victims payment for emotional losses
AI Overview:
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California
Many major insurers have stopped writing new policies or canceled existing ones due to wildfire risk. Some of the companies that have limited or canceled policies in California include:
- State Farm: Nonrenewed around 30,000 home insurance policies in California starting July 3, 2024
- Farmers: Limited new policy applications due to rising construction costs, severe weather, and record-breaking inflation
- USAA: Limited policies by raising wildfire safety standards and only accepting applications for replacing existing policies
- Liberty Mutual: Announced that it would not renew fire insurance policies for approximately 17,000 customers in California
- State Farm: Nonrenewed around 30,000 home insurance policies in California starting July 3, 2024
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Nevada
In 2022, 265 homeowners insurance policies were canceled or not renewed due to wildfire risk
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Other states
Homeowners in Massachusetts, Louisiana, Colorado, Minnesota, Arkansas, Nebraska, and Oklahoma may also have difficulty finding a policy
Insurance companies are not writing in every market if they can’t accurately price their policies. Regulators in California have proposed a rule that would allow companies to use climate change projections in their rate-setting models
