A new Insurify report found between five to eight hurricane impacts could shift home insurance costs in key states.
This year's hurricane season is set to jack up home insurance prices significantly in several states, a new report revealed.A new Insurify report found that five to eight hurricane impacts could shift home insurance costs in Florida, Louisiana, Mississippi, Alabama, Georgia, South Carolina, North Carolina, Virginia and New York.Already, Florida sees hurricane damage claims contribute to an average annual home insurance cost of $11,000, while Louisiana is at $6,354.
'This would likely lead insurers to reassess their risk models and adjust insurance rates accordingly.'Already, homeowners are struggling to afford their properties, with 30 percent of surveyed homeowners in a different Insurify survey saying they can't afford their current mortgage interest rates now or in the future.
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