The argument over whether we’re in for global warming or global cooling and whether what’s coming is natural or human-made is fun but totally irrelevant from a financial perspective. The fact is that for whatever reason and in whatever direction, the climate is getting more aggressive. Monster snowstorms and apocalyptic fires are clearly becoming more common:
Combine the rising number of bad things nature is throwing our way with the fact that millions more people are choosing to live in places with the highest propensity for those bad things, and you get yet another addition to the average family’s cost of living: soaring insurance premiums.
Phil’s Stock World recently published an analysis by University of Michigan professor Andrew Hoffman that expands on the connection between nature and insurance:
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
Monster snowstorms and apocalyptic fires are no more common than in the past. There are just more people to get killed and more property to damage than in the past.
I should not have my rates increased since these payouts are in another part of the Country. The ones in that area should be paying the higher cost. I am tired of paying for other peoples debt. I find that totally unwarranted. I have always had to pay my own way. Just another Insurance Company scam knowing you have to have insurance for everything. Are they going to increase my coverage, since they always decrease my coverage and not my premiums now.
meanwhile, the insurance companies and their agents are steady raking in their millions
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