Homeowners across the U.S. are seeing skyrocketing insurance rates, increased deductibles, excluded protections, and canceled policies.
Insurers say that they’re having to adjust to changing conditions to remain profitable. Among the problems they blame is inflation, rising construction costs, and costs associated with regulatory compliance. But many insurers are also blaming climate change for driving extreme weather events and increasing losses, and much of the media coverage is zooming in on this narrative.
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