The largest insurer in California said it would stop offering new coverage. It’s part of a broader trend of companies pulling back from dangerous areas.
The rising incidence of wildfires means many Californians can no longer insure their property. It’s a sign of what’s ahead for the whole housing market, writes Arwa Mahdawi.
The hurricane’s record-breaking cost will make it even harder for many to get insurance, experts say — threatening home sales, mortgages and construction.
When told about risks from flooding, prospective homebuyers were less likely to make offers on vulnerable properties, according to new research, which says that a growing awareness of climate risk could stunt home prices in flood-prone areas.
