The U.S. Department of Housing and Urban Development is urgently seeking public input on the escalating turbulence in the home insurance market influenced by extreme weather and reduced coverage.
HUD's recent summit highlighted the necessity of enhancing property resilience and sought to clarify how resilience measures impact costs, including insurance premiums for homeowners.
Extreme weather is not just causing more natural disasters, it's fundamentally disrupting the home insurance market, leading to higher premiums and reduced coverage options for property owners.
HUD aims to gather insights on how changes in home modifications and construction standards can lead to cost savings in the insurance landscape amid increasing climate challenges.
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