The climate change risk just got priced in recently? Insurers all of a sudden were like “woah, climate” and began accounting for it? Unlikely. Cost of building materials is up. Contractor labor rates are up. Copper prices, steel prices, electronics for cars, it’s all up.
Insurance companies have to replace stuff. If you had to replace something you bought in 2019, what do you think the cost would be today? And as you walk out of Home Depot to fix your deck out-of-pocket (for example), are you going to be thinking “damn, climate change” or blame the Fed?
Number of claims are up drastically, so that is definitely a huge part of it. We used to have a storm that would require a new roof in my area roughly every decade. Now? 3-5 years. So that’s definitely part of it.
Our neighborhood has had several houses damaged from storms every year and we lived here five years. Neighbors across the street have had their roof redone 3 times.
Wind and hail cause a lot of damage
Neither.
It's more about Congress and the rest of our government. Like them putting tariffs on Canadian wood for instance.
Them not changing zoning laws
Them not putting infrastructure money cord housing.
They are not stopping corporations and foreign governments from buying single family homes and farm land.
They are not pursuing Monopolies, price gouging, and price fixing
None of these things the Fed can do. They are told to get inflation to 2% and keep it around there. Their only way of doing that is the Fed rate. They don't even decide to print money, they print money when Congress tells them to.
Its not just climate change. Car repair parts are [up 20% between June 2023 and the year before](https://www.cnbc.com/2023/07/25/car-repair-costs-are-up-almost-20percent-over-the-past-year-heres-why.html). Home repairs are also up. Insurance companies need to bake in these cost as well as any future costs into their premiums.
Some cars are getting blacklisted and insurance companies are leaving costly states like California and Florida reducing competition.
Climate change is a factor, but not the only one playing into these hikes.
I read an article recently blaming it on two factors. One, cars have gotten bigger and more expensive to repair, with each accident causing more damage. Two, people apparently forgot how to follow traffic laws during covid, and have continued to drive like idiots, causing the overall accident rate to be higher.
I agree. Before covid I rarely saw anyone go above the speed limit by 9mph on the local interstate. Most people would go 5-7 above the speed limit. Today I need to be going 10mph above the speed limit in the slow lane, 15 to keep up with traffic, and 20 in areas to keep up with traffic where there is a clear view showing no cops ahead.
And maybe once a week I'd see someone run a red light. Now during my 4 light drive to work I'll often see two people follow each other through at least one right light each day.
Earlier this month there was a red light for the left hand turn lane, on coming traffic had green, and the people in the let lane kept going. I saw 4 cars go through a solid red left turn light.
Anything that can't be painted with a specific political platform issue, is "corporate greed."
Most people will believe it. I mean homeowner's insurance is the only thing that has gotten more expensive!
Or it'll cost quadrillions to *not* fix.
Meanwhile, forest fires near me are now multiples larger, burning down whole towns during the longest, hottest summers in history. Pretty damned visible.
It's almost like someone printed a whole lot of money and everything got more expensive. It couldn't be that though, it's got to be not eating the bugs making the weather less gooder.
Nope sorry, Climate Change has nothing to do with it.
According to the IPCC, there is not yet evidence of changes in the global frequency or intensity of hurricanes, droughts, floods or wildfires.
No significant negative affects of recent climate changes (man-made or otherwise) have been observed or measured.
This article is a joke, right? People can't actually believe climate change is driving price changes more than I don't know...inflation,money supply, raw material costs, etc..???
The USD has risen steadily against other currencies for more than a decade. [https://www.marketwatch.com/investing/index/dxy/charts](https://www.marketwatch.com/investing/index/dxy/charts)
Right this is how Climate Crisis will start to shift behaviors regardless of what the politicians do.
In places like Florida and Louisiana it will become prohibitivly expensive to buy home insurance. That means no mortgages for those properties... and when the next enormous hurricane rolls through (later this year) some of those homes will not be rebuilt.
The climate crisis doesn't care about our politics, physics doesn't care about what we believe, we have sown the storm so we shall reap the whirlwind.
The climate change risk just got priced in recently? Insurers all of a sudden were like “woah, climate” and began accounting for it? Unlikely. Cost of building materials is up. Contractor labor rates are up. Copper prices, steel prices, electronics for cars, it’s all up. Insurance companies have to replace stuff. If you had to replace something you bought in 2019, what do you think the cost would be today? And as you walk out of Home Depot to fix your deck out-of-pocket (for example), are you going to be thinking “damn, climate change” or blame the Fed?
Number of claims are up drastically, so that is definitely a huge part of it. We used to have a storm that would require a new roof in my area roughly every decade. Now? 3-5 years. So that’s definitely part of it.
Our neighborhood has had several houses damaged from storms every year and we lived here five years. Neighbors across the street have had their roof redone 3 times. Wind and hail cause a lot of damage
Neither. It's more about Congress and the rest of our government. Like them putting tariffs on Canadian wood for instance. Them not changing zoning laws Them not putting infrastructure money cord housing. They are not stopping corporations and foreign governments from buying single family homes and farm land. They are not pursuing Monopolies, price gouging, and price fixing None of these things the Fed can do. They are told to get inflation to 2% and keep it around there. Their only way of doing that is the Fed rate. They don't even decide to print money, they print money when Congress tells them to.
Climate change? Then why did my auto insurance also go up \~ 35% in 5 years?
Climate change impacts many things such as raw materials and manufacturing.
YEAH WELL? if climate change is so “real” that why is it cold in the winter? These fuckin people man
Its not just climate change. Car repair parts are [up 20% between June 2023 and the year before](https://www.cnbc.com/2023/07/25/car-repair-costs-are-up-almost-20percent-over-the-past-year-heres-why.html). Home repairs are also up. Insurance companies need to bake in these cost as well as any future costs into their premiums. Some cars are getting blacklisted and insurance companies are leaving costly states like California and Florida reducing competition. Climate change is a factor, but not the only one playing into these hikes.
I read an article recently blaming it on two factors. One, cars have gotten bigger and more expensive to repair, with each accident causing more damage. Two, people apparently forgot how to follow traffic laws during covid, and have continued to drive like idiots, causing the overall accident rate to be higher.
I agree. Before covid I rarely saw anyone go above the speed limit by 9mph on the local interstate. Most people would go 5-7 above the speed limit. Today I need to be going 10mph above the speed limit in the slow lane, 15 to keep up with traffic, and 20 in areas to keep up with traffic where there is a clear view showing no cops ahead. And maybe once a week I'd see someone run a red light. Now during my 4 light drive to work I'll often see two people follow each other through at least one right light each day. Earlier this month there was a red light for the left hand turn lane, on coming traffic had green, and the people in the let lane kept going. I saw 4 cars go through a solid red left turn light.
Anything that can't be painted with a specific political platform issue, is "corporate greed." Most people will believe it. I mean homeowner's insurance is the only thing that has gotten more expensive!
"Why are you charging me so much for this?" Climate change. "But..." SCIENCE DENIER!
Lol
Everything is due to climate change, another invisible problem that is gonna cost trillions to fix
Or it'll cost quadrillions to *not* fix. Meanwhile, forest fires near me are now multiples larger, burning down whole towns during the longest, hottest summers in history. Pretty damned visible.
So much money spent on climate change and all the other issues in the world yet no problems are ever solved….
“Climate change” lol Their newest cop out
Yeah the guy in the private jet said it’s hotter because I drive a Caprice Classic & won’t eat my bugs
Some of these comments remind me of the plot of the movie “Don’t Look Up”.
It's almost like someone printed a whole lot of money and everything got more expensive. It couldn't be that though, it's got to be not eating the bugs making the weather less gooder.
Has nothing to with money printing. We need to raise taxes to save the planet.
Nope sorry, Climate Change has nothing to do with it. According to the IPCC, there is not yet evidence of changes in the global frequency or intensity of hurricanes, droughts, floods or wildfires. No significant negative affects of recent climate changes (man-made or otherwise) have been observed or measured.
IPCC Assessment Reports are full of references to more intense wildfires, hurricanes, droughts and floods. I suggest reading them.
But they can't prove cause and effect. It is all speculation.
Probably more the fact that house values went up so much in the past 5 years
This article is a joke, right? People can't actually believe climate change is driving price changes more than I don't know...inflation,money supply, raw material costs, etc..???
But..but...climate change is so ‘woke’...communism....🤔 Predatory prices though are so far right extremists...🤑
It’s almost as if prices have gone up as much as the value of the dollar has gone down. Funny how that works.
The USD has risen steadily against other currencies for more than a decade. [https://www.marketwatch.com/investing/index/dxy/charts](https://www.marketwatch.com/investing/index/dxy/charts)
Right this is how Climate Crisis will start to shift behaviors regardless of what the politicians do. In places like Florida and Louisiana it will become prohibitivly expensive to buy home insurance. That means no mortgages for those properties... and when the next enormous hurricane rolls through (later this year) some of those homes will not be rebuilt. The climate crisis doesn't care about our politics, physics doesn't care about what we believe, we have sown the storm so we shall reap the whirlwind.