💨 Abstract

The U.S. Treasury Department study reveals that homeowners in high-risk areas for natural disasters like hurricanes and wildfires pay 82% more in insurance premiums on average compared to those in low-risk areas between 2018-2022. Additionally, homeowners in risky areas are more likely to be dropped by their insurers, based on analysis of over 246 million homeowners insurance policies.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖