Climate Change…an insurance wild card

UP’s Andrew Cattell with Former Vice President Al Gore at the home of Tom Steyer and Kat Taylor who are supporting our wildfire recovery work in the North Bay, CA.

Wondering what you can do to keep your home insurance affordable in the face of extreme weather events?

Improving your property so it’s less likely to be destroyed in an earthquake, flood, hurricane or wildfire makes economic sense, and we think your insurance company should help and reward you for doing that. Some are, more should.

UP learned during our recent presentation with FEMA at the U.S. Treasury in Washington D.C. that every dollar invested in mitigation brings an average $6 return.

So whether you’re improving your roof, elevating your home, installing a flood vent, bolting your home to its foundation or maintaining defensible space around your home – your insurer should offer technical guidance and reward your investment with a break on your premium. Ask them in writing, and follow up with your state regulator if their answer is no.

The information presented in this publication is for general informational purposes and is not a substitute for legal advice. If you have a specific legal issue or problem, United Policyholders recommends that you consult with an attorney. Guidance on hiring professional help can be found in the “Find Help” section of www.uphelp.org. United Policyholders does not sell insurance or certify, endorse or warrant any of the insurance products, vendors, or professionals identified on our website.

Source: https://uphelp.org/climate-change-an-insurance-wild-card/
Date: April 26, 2024