Save on Home Insurance Amid Rising Costs and Coverage Hurdles

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 17 April 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn why homeowners insurance costs are rising, tactics to find affordable coverage, and how to know if you have enough. Why are homeowners insurance costs rising? How can you tell if you have enough insurance? Hosts Sean Pyles and Anna Helhoski delve into the factors behind rising home insurance premiums, from climate change-induced disasters to inflation’s impact on repair costs. They’re joined by Caitlin Constantine, an insurance editor at NerdWallet, who breaks down the details. She shares actionable strategies for finding affordable coverage and navigating insurance challenges; insights into how to safeguard your home and budget; and tips for negotiating insurance rates and making informed decisions. Whether you’re a homeowner or renter, this episode provides insights into how to better manage insurance costs and understand the evolving risks of climate-driven financial challenges. In their conversation, the Nerds discuss: homeowners insurance, rising premiums, insurance costs, climate change impact, home insurance rates, uninsured homeowners, insurance affordability, property protection, natural disasters, insurance coverage, cost of insurance, insurance trends, home insurance quotes, insurance inflation, insurance migration, home insurance policies, insurance challenges, home insurance tips, affordable insurance options, insurance availability, flood insurance, insurance shopping, insurance market trends, insurance industry, home insurance market, disaster insurance, car insurance, homeowners coverage, insurance premium factors, home insurance insights, and climate-related insurance costs. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
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0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:30.5	Welcome to NerdWallet's Smart Money Podcast.
0:33.1	I'm Sean Piles.
0:34.1	And I'm Anna Hilhouski.
0:35.2	And this is our weekly Money news roundup, where we
0:37.8	break down the latest in the world of finance to help you be smarter with your money.
0:41.4	Today, we're talking about why homeowners insurance costs are so high right now.
0:45.7	Yeah, the costs are so onerous that a lot of people are going without insurance at all.
0:49.9	The Consumer Federation of America, an association of nonprofit consumer organizations,
0:55.4	released a report recently that found 7.4% of homeowners in the country are uninsured,
1:01.2	and it's likely to get worse.
1:03.0	That's right.
1:03.4	And for context, 7.4% of homeowners translates to millions of people being left in the wind.
	...

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