Are we in a home insurance crisis?

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard talk about high insurance costs. Affordability is becoming a big problem in the United States. Insurance and property taxes have been driven up in the last few years, and according to today's article from Insurance Business Magazine, "Insurance could kill mortgages in some of the US - Powell." In the recent Fed meeting Powell commented on insurance, and how it's increased more than normal the last few years. This is largely due to regions around the gulf, California, Texas and Florida who have an increasing amount of weather events. The insurers in these regions have to share the costs amongst all of the areas they cover, but at some point they can't stay competitive, so we are seeing insurance carriers pulling out of these regions altogether. This is a considerable factor in the affordability piece of buying a home right now. Hopefully, the market finds solutions for this insurance problem soon. But, in the meantime we suggest you find a trusted insurance advisor who will take care of your clients. Listen in as we discuss this and more!See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.