Climate Change Driving Up Home Insurance Claims, Rates

As the changing climate makes extreme weather more common, more and more people are dealing with damage to their homes and property.

That’s what insurance is for, right? People are certainly filing insurance claims.

In 2020, nearly 40% of all insurance claims were for weather-related damage, according to a new report out from LexisNexis Risk Solutions.

That’s the highest percentage since the company started doing this insurance report six years ago. The total amount insurers had to pay out for weather-related losses rose last year, too.

The more severe storms, fires and floods are, the more people are going to be dealing with damaged roofs and basements.