As climate change continues to exacerbate the rate of natural disasters worldwide, the price of home insurance is almost guaranteed to keep rising alongside climbing disaster risk.
Some home insurers have elected to pull out entirely of disaster-prone regions, including a recent mass exodus of major home insurance providers from Florida and a pause on accepting new home insurance applications in California.
Consumers aiming to avoid rising home insurance rates may choose to invest in weather-proofing their home or make the decision to relocate to a less vulnerable area altogether.
Natural disasters reportedly caused $130 billion in insured losses worldwide just last year alone.
