A recent article at the Chicago Sun Times (CST) claims that "Climate change is fueling a surge in Illinois home insurance premiums,” via increases in severe weather. This is false. Severe weather is not getting worse in Illinois, so it cannot be the driver for insurance costs. Other factors, like increasing home values and inflation, are driving insurance rates higher.

The article is sponsored by the environment focused media group Grist, so there is already an incentive to inflate the climate angle and downplay the more important reasons why insurance costs are rising in already-expensive Illinois. Those other reasons are mentioned briefly in the post, "the value of a home, the cost of the materials needed to rebuild it, and even the credit scores of the homeowner,” all impact insurance costs, but the CST insists that really climate change is the main problem.

Posted by: Timothy Birdnow at 11:32 AM | Comments (2) | Add Comment
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