Weather and Insurance Premiums

weather-and-insuranceIt is impossible to turn on the news without hearing stories about “Global warming”, storms, 100 year floods and hurricanes. These stories come with frightening images of twisted metal, flooded streets and cars thrown about as if they were a child»s forgotten toys. Our hearts goes out to those who»s life’s have been literally turned up side down. We understand, that even those lucky enough not to loose love ones, still often find that a lifetime of memories treasured positions gone. We watch people wade through mud and wastewater to search for their pictures, letters, trophies and other objects that are a part of their life.

Aside from the emotional cost, there are also major financial costs. These cost are in large part paid by insurance companies. The more money insurance companies are required to pay, the more money they will need to charge. As sea levels rise, and warmer waters fuel stronger storms, insurance companies are going to not only increase cost to cover past claims, but to make sure that there are adequate funds to pay for future losses.

These storms are going to cost all of us more money.

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