Will your insurance rates go up because of the hurricanes?
The short answer is no, industry representatives say.
"Insurance rates are based on each state's claims experience," said
That's because insurance is regulated at the state level, said
"An insurer who operates in both
"The cost of insurance in
For example, wildfires in southwestern
"I'm not saying that automatically anybody is going to see rate increases in insurance because of that," he said. "But that's the type of event that generated insured losses that will be reflected in insurer rate filings over the next year or so."
Natural disasters in
"Hurricanes are covering a much larger amount of territory," Barry said. "Rarely do tornadoes generate the types of insured losses that hurricanes do."
He said there were exceptions like the tornadoes in
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