With climate change impacting more and more real estate, insurance keeps getting pricier. As we reported last year, mortgage lenders for coastal homes often expect 40% down payments, just to offset the risks. This year, the insurance tech company Policygenius published a study showing U.S. homeowners’ insurance rising at a remarkable 12%+ rate.
Among the top five reasons Policygenius lists for the rising premiums are “record catastrophe losses” and “severe natural disasters.”
Times are changing for real estate. And now, an industry is growing up around the concept of climate-resilient buildings. The largest investment fund in this area is being led by a firm named Fifth Wall.
Here’s the news on these developments.
Continue reading “Insurers Hike Prices, Pointing to Climate. Investors See New Opportunities.”