Another Challenge in Home Insurance
Elsa, Henri, and Ida are long past, but the recovery from the flood claims linger. This creates a substantial hurdle for the real estate market. Insurance companies are working hard to understand climate change, and water damage is at the fore front.
“Insurance companies are working hard to understand climate change, and water damage is at the fore front”
It’s Not Just Flood
Elsa, Henri, and especially Ida, proved to be a surprise to many homeowners that have never had water damage before, and this is just a part of the water damage issue.
What Does It Mean?
As insurance companies struggle to understand the impact of climate change and aging plumbing systems, any home with a water damage claim on their record will be a challenge to insure.
You may not find insurance for some homes, clearly making them more expensive to insure!
Our suggestion for listing or buying, is to ask an insurance agent to check the location, see if there has been a previous water damage claim, and get ahead of the issue.
If you have a home you need checked, drop Kyle an email at email@example.com