Article by Steve Garmhausen | Barron’s
The high cost of hurricanes and wildfires has prompted major insurers in recent years to jack up premiums, raise deductibles, and in some cases pull out of states like Florida, Louisiana, and California. With property and casualty premiums skyrocketing—insuring a property near the Florida coast can easily run $100,000 a year—homeowners are looking to financial advisors for help. For this week’s Barron’s Advisor Big Q, we asked advisors in affected states what they’re telling clients who are grappling with the situation. The options—including eating the higher premiums, “hardening” properties with weather resistant materials,…
