WASHINGTON DC (KOLO) – U.S. Senator Jacky Rosen is pushing the Federal Insurance Office to address the rising cost of homeowners insurance in northern Nevada.
Rosen says that as costs associated with wildfires have increased, insurers are raising premiums or dropping coverage altogether in fire-prone areas.
“As the Senator for a wildfire-prone Western state, I am deeply concerned that my constituents, who are the most vulnerable to these types of natural disasters, are being left behind,” wrote Senator Rosen. “Without access to affordable insurance products – or insurance products altogether – the most at-risk homeowners are left with sky-high insurance premiums, insufficient coverage, or no protection at all.”
“As wildfire seasons become lengthier and more unstable, it is critical that Nevada homeowners have access to the affordable insurance coverage they need to protect their financial future and stay in their communities,” she continued. “While recent initiatives – such as FIO’s plan to collect data on climate risks more broadly– are a step in the right direction, more must be done to better understand the link between wildfires and rising insurance premiums so that policymakers, agencies, and stakeholders can take action to lower costs and increase coverage options.”
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