Climate Change Pushes Up Home Insurance Premiums

Homeowners renewing their insurance are seeing their premiums increase more than 20% according to a recent study, making housing even more expensive for a growing number of Americans.

The study, conducted by Policygenius, found that Florida experienced the largest jump with premiums increasing by 35%. The steep increases in homeowner’s insurance costs contribute to the already intractable housing affordability crisis, as homeowners must allocate more of their incomes to their monthly housing costs.