I joined Money Rehab with Nicole Lapin to discuss the looming insurability crisis. Nicole used to think insurance was a boring subject…. until she lost her home in the Palisades fire. Today, she is teaming up with the Coalition for an Insurable Future to tell you about what you need to know about the insurance issue that could become the next great American financial crisis, and how to protect yourself.
In this episode, Nicole and I break down the numbers: homeowners insurance premiums are up 74% since 2008, 40% faster than inflation, and 95% of American homeowners are already feeling it. Then we get tactical: what “uninsurable” actually means, the coverage gaps that catch most people off guard (spoiler: flood is not in your standard homeowners policy), and the exact steps to take before a disaster strikes.
