How Can Climate Change Affect Your Home Insurance?

​Due to climate change, natural disasters are on the rise all around the world. Extreme weather brings with it the increased risk of property damages as well as losses. Hurricanes, tornadoes, windstorms, floods, wildfires, and drought are becoming more frequent and devastating.
 
Insurance companies have no doubt seen the worsening effects or damages that mother nature can do to your homes. So, how do you think this impacts your insurance?

1. The Cost of Premiums
   Climate change is becoming unpredictable. Natural disasters can hit areas unexpectedly, with more destructive results. Insurance companies are having a terrible time as weather patterns become more challenging for them to predict and to assess the risks.
   
   Nowadays, severe weather events can strike even areas that were considered low risk. They could no longer count on historical data to determine future risks. The only thing they can do to attune to this change is to increase premiums to be able to cover all losses to properties. They may also consider increasing deductibles, reduce limits, and add new exclusions to the policy.
   
   
2. Need for Additional Coverage
   Some homeowners are advised to consider purchasing flood, windstorm, and other insurance to fill in the gaps that home insurance won’t cover. You need to assess your current policy if you are protected against damages to your home sustained from hail, wind, or water. It’s the most reliable answer that you have against the additional perils that homeowners face because of climate change.
   
   When disaster strikes, having a financial safety net secured is crucial in getting the help you will need to rebuild or start again. Home insurance will also offer you peace of mind knowing that you are protected.
   
   
3. Implementing Stronger and Effective Precautions
   You can help minimize the damage to your home by taking extra steps to protect your home. Consider changing to heavy-duty roof shingles. Keep your yard well maintained by removing weak branches and inspecting trees that may easily fall in heavy winds. Secure any outdoor objects that can be blown away. Fix and clear rain gutters and downspouts to prevent water damage.

 
Change is unavoidable, but you can prepare for it. Protect yourself against unpredictable financial loss due to damage or loss of property and purchase home insurance.
 
At Sherzer Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (239) 673-9301. You can also request a free quote by CLICKING HERE.