Pockets strapped, Insurance rates up

Massive losses from nationwide disasters are prompting the industry to jack up prices and draw back from some markets. The weather change furthermore has made it more challenging for insurers to calculate their risks, causing some to require higher premiums to buffer against forthcoming losses.

Many clients are budgeting family income to afford homeowners and auto insurance or, if permitted, going without coverage. In certain locations, the best choices are bare-bones coverage or no coverage, which can make houses worth less and harder to market, and automobiles less inexpensive.

 Anita Johnson-Brown|The Los Angeles News

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