Home insurance rates in Mississippi will rise again this year as President Donald Trump’s latest tariffs on building materials push construction costs even higher, unless rate increases can be blocked at the state level, insurance commissioner Mike Chaney warned.
This maybe somewhat off the subject but from what I see the developer-builder-realtor industry provides starter homes that are cheaply built and much bigger than what people need. From the starter home American's continue to buy unnessarily big homes. Big is going to cost more to fix or replace when weather happens. This Sunday I saw many new beach front homes that are on pilings above future flood waters, and then then three stories going up. Not somewhere to be in the next hurricane. Despite other factors I believe that insuring vulnerable houses like these has, or will cause rising insurance rates for everyone in that zipcode, geographic area and ultimately the state.
It's logical to wonder how those kinds of homes, elevated so high to put them above storm surges, then built so tall, will fare during 150-200 mph winds. Also logical to wonder how overall premiums will be hiked in relevant areas.
This maybe somewhat off the subject but from what I see the developer-builder-realtor industry provides starter homes that are cheaply built and much bigger than what people need. From the starter home American's continue to buy unnessarily big homes. Big is going to cost more to fix or replace when weather happens. This Sunday I saw many new beach front homes that are on pilings above future flood waters, and then then three stories going up. Not somewhere to be in the next hurricane. Despite other factors I believe that insuring vulnerable houses like these has, or will cause rising insurance rates for everyone in that zipcode, geographic area and ultimately the state.
It's logical to wonder how those kinds of homes, elevated so high to put them above storm surges, then built so tall, will fare during 150-200 mph winds. Also logical to wonder how overall premiums will be hiked in relevant areas.