START WITH ASSESSING THE RISK TO YOUR OWN PROPERTY/COMMUNITY
“There are two levels of risk. Risk today and what that analysis projects — the incremental risk in the near future,” said CoreLogic’s Tom Larsen.
“Risk varies block by block and varies whether you are on low ground, near a canal, river, or lake. Miami is at ground zero with flooding and California has increased risk from wildfires, but the risk is increasing everywhere.
In Ohio, you have
spring floods, more severe storms, more ice forming dams in rivers — that can
put many more at risk.”
Larsen noted skyrocketing insurance rates in Florida (due to storms and flooding) and in California (due to wildfires).
He said data can help property owners to perform a sound cost-benefit analysis.
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