What to Know About Insurance Deserts

What to Know About Insurance Deserts

As all of you are aware Los Angeles in the recent weeks were devastated by tragic wildfires and I wanted to talk about a real issue that’s going on not just in California but Nationwide.

That issue is called Insurance deserts.

Homeowners in high-risk areas are facing Skyrocket premiums since 2020. U.S. property insurance premiums have risen over 30%. These Insurance deserts are at high risk from wildfires, hurricanes, floods, and have led insurers to pull out of markets in states like Florida, California, Louisiana, and Colorado.

Over 44.8% of us homes which is equivalent to $22 trillion in real estate are vulnerable to severe environmental threats but here are some solutions:

1. Sign up for FAR plans

Government backed insurance for properties in high-risk areas number.

2. Reach out to an independent agent

An agent or broker can help you find alternative insurers or policies.

3. Home upgrades:

Invest in fire resistant roofs flood proofing and other climate resilient measures to reduce risk and improve insurability.

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Follow these tips to make your house is protected as a homeowner. If you have further questions and would like to be referred to a independent broker an insurance broker send me a message.  Don’t forget to subscribe to our YouTube channel for more insights and updates.