Nebraska has experienced the second-highest increase in homeowners’ insurance rates in the United States, following a year’s worth of severe weather events that contributed to substantial storm-related damages. The analysis, cited by Rep. Mike Flood, revealed an alarming 61% rise in home insurance costs, largely due to high losses from hail, tornadoes, and other climatic challenges affecting the state. Flood intends to form a state working group this fall, bringing together stakeholders to address the escalating insurance crisis. Insurance experts indicate that prolonged weather disruptions have led many companies to raise rates dramatically or withdraw from the Nebraska market altogether.
Source and Details