www.bloomberg.com
The rising frequency of natural catastrophes is straining the home insurance industry, leaving many homeowners underinsured. Insurers often cover market value or dwelling coverage limits rather than the actual, higher cost required to fully rebuild after a total loss. As construction labor and material costs surge, policies frequently fail to cover code upgrades or debris removal. Consequently, many victims of disasters face significant financial gaps, forcing them to tap into savings or downsize rather than fully recovering their previous standard of living.
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