California isn’t the only place where insurers are dropping homeowners

[Francis A.]

A growing number of homeowners nationwide are being dropped by insurance companies as firms and regulators struggle to deal with the unpredictable and costly risks of climate disasters.

Nonrenewal notices surged by nearly 30 percent from 2018 to 2022 to more than 620,000 a year, according to a Treasury report released Thursday that examined 246 million policies nationwide. Nonrenewal rates were nearly 80 percent higher in Zip codes that faced the highest risk from insurance perils such as strong winds and wildfires compared with the lowest risk areas.

[Cameron Moore]

If I may, a lot of the issues we are running into with insurance is that consumers no longer use insurance as a catastrophic fall back but rather, they nickel and dime on small claims that compund into larger issues. 

Another example: the average roof in DFW is replaced every 6 years and the average cost is $40k. Witht he average premiums falling between $3500-$4k. Do the math on that and we will see that the carriers are not profitable and they also arent charity. We have to find a balance!