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A hazard-challenged market
The rise in weather hazards such as wildfires , hurricanes , flooding , and earthquakes is causing major disruptions to the home insurance industry . The number of US natural disasters with damages over a billion dollars has increased , from an average of 3.3 per year in the 1980s to more than 17 per year over the past decade . Most recently , 2024 ended with 27 major weather disasters on record .
Consequently , this has contributed to the average property insurance premium going up more than 30 percent since 2020 , and insurance options and costs vary widely by location . These trends are predicted to continue , causing concern for potential homebuyers who are wondering if they can afford to insure their new home . This is where embedded home insurance can be a game-changer .
A dependable home insurance solution
The embedded insurance model integrates insurance into non-insurance products or services . For example , a car dealer might connect customers with a source for obtaining car insurance when completing the purchase process . In the context of the home building industry , it means integrating home insurance into the homebuying process , making it a seamless part of the homebuying journey . It ’ s a transformative shift in how home insurance is purchased and provided .
Traditionally , securing home insurance has been a separate , often cumbersome process for homebuyers . After purchasing a new home , buyers need to independently research insurance providers , compare quotes , and finally purchase a policy . This process can be time-consuming and confusing , especially
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