Natural Disasters Caused $56B In Property Damage In 2021

Natural Disasters Caused $56B In Property Damage In 2021

ByTMN Editor Reading Time: 2 minutes

More than 14.5 million single- and multifamily homes were impacted by natural disasters in 2021, causing an estimated $56.92 billion in property damage, according to CoreLogic’s 2021 Climate Change Catastrophe report. The report analyzed thirteen “major hazard events” of 2021– including hurricanes, tornados, wildfires, and winter storms– and 120 million residential structures in the U.S….

SitusAMC: Insurance Premium Hikes Coming As Natural Disasters Intensify

SitusAMC: Insurance Premium Hikes Coming As Natural Disasters Intensify

ByTMN Editor Reading Time: 2 minutes

Both homeowners and lenders may be underestimating the rising cost of insurance following a growing number of natural disasters, according to a SitusAMC white paper titled “Weathering the Storm: Burgeoning Insurance Costs for Real Estate.” The paper found that natural disasters have impacted residential property nationwide, not just in areas with highly publicized disasters such…

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