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What will hurricane season mean for homeowners insurance rates?

A bad season for storms could be a nightmare

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In case you haven’t seen the forecasts, the 2024 hurricane season is expected to be particularly nasty. For consumers living along the Atlantic and Gulf coasts, a string of bad storms could be costly, even if their property never receives any damage.

That’s because the insurance industry operates on a pooled risk system. Everyone in the area pays higher premiums to compensate homeowners who file claims.

The Weather Channel predicts the 2024 hurricane season will likely be...

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