Colorado Faces Rising Insurance Costs Due to Weather Disasters
• Homeowners insurance rates in Colorado have increased by 65% in the last five years, making it one of the most expensive states.
• Colorado has experienced over 76 weather-related disasters since 1980, each causing over $1 billion in damages.
• A new bill proposes a half-percent fee on insurance policies to fund grants for hail-resistant roofs, aiming to generate $20 million annually.
Colorado insurance rates surge due to weather
Colorado is facing a crisis with homeowners insurance rates skyrocketing by 65% over the past five years, placing it among the top ten most expensive states. This surge is largely attributed to the increasing frequency and severity of weather events, exacerbated by climate change.
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