Articles on Property Insurance

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In fall 2024, Tampa and other Florida cities on the Gulf coast were hit by hurricanes Helene and Milton within 13 days of each other. Giorgio Viera/AFP via Getty Images

Home insurance and the unraveling of Florida communities

Florida’s current approach to insurance is forcing those who can least afford it to bear the cost of the climate crisis. But different approaches are available.
Wildfires can destroy hundreds of homes within hours. PH2(AW/SW) Michael J. Pusnik, Jr / Navy Visual News Service / AFP via Getty Images

Why insurance companies are pulling out of California and Florida, and how to fix some of the underlying problems

It’s not a question of if insurance will become unavailable or unaffordable in areas at high risk of wildfires, hurricanes and other damage – it’s a question of when. A disaster risk expert explains.
Households in rural and regional areas are more likely to be insured than those in cities, possibly because rural residents are more attuned to environmental conditions and the risks to property. Tasmania Police/AAP

Insurance is unaffordable for some, but it’s middle Australia that is underinsured

The differences between owners and the growing number of renters, and between rural and urban areas, point to explanations other than affordability for the one-in-two Australians who are underinsured.
Low-cost housing development on the city outskirts can expose owners to higher costs in the long run. Paul Miller/AAP

Affordable housing is not just about the purchase price

People are taking on larger future risks and costs just so they can buy a house. Increases in new home owners are seen as a positive development, but what if they can’t afford the ongoing costs?
Hurricane Wilma in 2005 was the last major storm to rock Florida – and its insurance market. Carlos Barria/Reuters

When catastrophe strikes, who foots the bill?

Even though Hurricane Matthew has been downgraded to category 3, it’s expected to cause substantial damage to Florida and other states in the region. The question is, who pays.

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