“Too many people are forced to choose”

The insurance industry already has problems with catastrophic claims for damages after increasing the extreme weather events.

Now tariffs of the Trump administration increase the costs of the insurance companies and may make insurance for homeowners even more unafforders in America.

What happens?

As Cleartechnica reported, the insurance industry predicts larger future losses and higher insurance costs.

The US government has imposed tariffs that affect building materials. These tariffs increase the costs for repairs and replacement costs, which leads to higher insurance premiums.

Insurance companies calculate higher premiums to spend more for building materials such as steel, aluminum, wood and plaster. In the meantime, the tariffs disturb the global supply chains and cause delays in the punctual report of materials.

Builders often obtain raw materials from several countries affected by the tariffs. More expensive materials can lead to higher labor costs if contractors also calculate more to cover their cost increases.

Why are tariffs and home ownership insurance important?

The insurance of a house is becoming increasingly difficult and unaffordable in the United States.

The human activity like the burning dirty fuels has led to overheating the planet. While extreme weather events occur a natural event, the climate crisis invites these events, which makes them become more dangerous and more destructive-and initiates insurance prices and insurance companies that reduce the cover in areas with high risk.

“Too many people are forced to choose between paying the same insurance, the acceptance of a lower cover insurer in order to keep bonuses manageable, or to have the insurance expired,” wrote Scott St. George in nature.

Insurance companies paid over 140 billion US dollars in natural disaster claims with losses of more than 100 billion US dollars last year, the fifth year in a row. Some insurers leave the state insurance markets entirely due to the risks and increasing costs.

At the same time, the US tariff rates have been at the highest level since the 1940s, including 25% tariffs in Canada and Mexico. Taken together, these factors create a devastating situation for homeowners who want to protect their houses and want to rebuild after hard storms.

What is done to protect endangered homeowners?

Extreme storms that result from climate shifts were largely responsible for the insurance tips of homeowners. Now there are tariffs in the mix to make the problem worse.

Surveys show that the Americans are responsible for increasing costs and the government that they have not done enough to protect them. Homeowners have the feeling of dealing with house damage caused by tornados, forest fires, hurricanes and other extreme weather.

Fortunately, there are measures that you can take as an individual to prepare your home as far as possible before storming.

Find out about critical climate protection problems, use your house and use sustainable building materials. You can also take the matter of disaster resistant living opportunities such as the Q-Cabin yourself.

These measures offer storm protection and peace of mind with increasing severity of the dangerous weather. Although the future of the insurance industry is uncertain, you can take proactive steps with your own home what you can control.

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