Homeowners in markets once thought of as safe are seeing insurance become pricier and less available. (Credit: Monkey Business/Adobe Stock)
Hurricane risk is poised to radically change coastal communities from Texas to Maine, according to a new report from Cotality.
The report found hurricane risk, higher insurance prices and, in some areas, no availability of insurance are causing many home buyers to shift away from coastal communities. Coastal homeowners are then saddled with properties that are decreasing in value and becoming harder to sell.
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Corey Dahl
Corey Dahl is assistant editor with PropertyCasualty360.com. Reach her at [email protected].
