3 ms·

I've been thinking about this lately. For a couple weeks, I was worried about my health insurance for next year through my state's marketplace and I was consid

I've been thinking about this lately. For a couple weeks, I was worried about my health insurance for next year through my state's marketplace and I was considering whether it would be worth the unsubsidized price of $350-450 per month. Ultimately, I don't have enough information about my risks to feel comfortable with my analysis. While it would be mentally soothing to use the calculator, it's not really helpful. I'm also curious what's going on with insurance prices this year. The health insurance premiums this year are 33% more and just today I got my home insurance renewal asking for 25% more with the exact same coverage amounts. Did something happen to justify these increases?

relaxing 2y ago
> I got my home insurance renewal asking for 25% more with the exact same coverage amounts. Did something happen to justify these increases? Climate change.
- xboxnolifes 2y ago
  This is a nothing answer. Climate change has been happening for decades. What exactly changed this year that led to this increase.
  - relaxing 2y ago
    What happened this is year is the need to cover payouts from last year’s record losses due to wildfire, flooding and wind. https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html https://www.nytimes.com/interactive/2024/12/18/climate/insur... https://www.nytimes.com/interactive/2024/05/13/climate/insurance-homes-climate-change-weather.html https://www.nytimes.com/interactive/2024/05/13/climate/insur... https://www.nytimes.com/interactive/2024/05/13/climate/home-insurance-profit-us-states-weather.html https://www.nytimes.com/interactive/2024/05/13/climate/home-...
kqr 2y ago
General economic conditions prevents new capital from entering the market to undercut current insurers. Behind the scenes much of this tighening of available capital happened more than a year ago but it's being passed on to consumers only now. Nothing in particular has happened this year -- it was fairly ordinary in terms of catastrophies.

relaxing 2y ago

> I got my home insurance renewal asking for 25% more with the exact same coverage amounts. Did something happen to justify these increases? Climate change.

xboxnolifes 2y ago
This is a nothing answer. Climate change has been happening for decades. What exactly changed this year that led to this increase.
- relaxing 2y ago
  What happened this is year is the need to cover payouts from last year’s record losses due to wildfire, flooding and wind. https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html https://www.nytimes.com/interactive/2024/12/18/climate/insur... https://www.nytimes.com/interactive/2024/05/13/climate/insurance-homes-climate-change-weather.html https://www.nytimes.com/interactive/2024/05/13/climate/insur... https://www.nytimes.com/interactive/2024/05/13/climate/home-insurance-profit-us-states-weather.html https://www.nytimes.com/interactive/2024/05/13/climate/home-...

kqr 2y ago

General economic conditions prevents new capital from entering the market to undercut current insurers. Behind the scenes much of this tighening of available capital happened more than a year ago but it's being passed on to consumers only now. Nothing in particular has happened this year -- it was fairly ordinary in terms of catastrophies.