Rep. Flood: It’s Time to Address America’s Home Insurance Crisis

LINCOLN, NEBRASKA - Today, U.S. Congressman Mike Flood issued a statement on his approach to addressing the growing home insurance crisis building in Nebraska and across the nation. 

“Data shows that Nebraska has experienced an over 60 percent increase in home insurance costs year-over-year. During this timeframe, this was the second highest rate increases in the nation,” said Rep. Flood. “In the last couple of weeks, severe weather events have once again ripped through our communities, leaving damage that will only put more upward pressure on the cost of home insurance. Rising home insurance costs and escalating property taxes are delivering a one-two punch to Nebraska homeowners. We need to tackle this problem and do so quickly. This fall, I’m assembling a working group of insurance industry leaders, home builders, and other stakeholders, so that we can begin to put together solutions to address rising home insurance costs to support homeowners in Nebraska and across the country who are struggling to afford the cost of staying in their homes.”

Earlier this year, CNBC conducted an analysis of the growing home insurance crisis that can be found by clicking here.