Want to avoid high home insurance rates? Time to nix New Orleans and Tampa
According to a new survey of insurance costs by The Washington Post, New Orleans and Tampa currently have the highest rates — and they’re likely to go higher soon.
READ MORE ABOUT WEATHER-RELATED INSURANCE WOES
After the storms comes the reckoning: Home Insurance Rates Surge in Florida, Elsewhere
Unpaid Weather Insurance Claims Reach Billions Of Dollars
The areas most affected by staggering home insurance rates are New Orleans, Tampa and California northwest of San Francisco. Hurricanes are almost certainly the reason in Louisiana and Florida; wildfires are the likely cause in the Golden State.
Inland Louisiana, Miami and the Florida Panhandle are also on the list of high insurance areas. And the effects of storms are even seen areas such as New York City and Long Island; sometimes hurricanes move that far north.
Safe places
If home insurance is any guide, the most weather-safe areas are near Detroit, northern New York State, northern Maine and some pockets in Utah.
Based on the sophistication of insurance companies to peg risk, the danger areas will not only be those with expensive coverage: They will be the places that the companies abandon entirely.
