Caitlin Constantine

speaker

175 appearances 1 recordings 1 series first heard Feb 2026 last heard 23 Feb

Caitlin Constantine’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.

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NerdWallet's Smart Money Podcast · Home Insurance Rate Increases and Psychological Traps That Are Costing You · 23 Feb 2026 podcast

So these are plans for homeowners who can't get insurance for the private market and they tend to be more expensive and they provide less coverage.

Absolutely.

Well, it's no secret that it is getting much more expensive over the past decade.

And the rising cost of insurance actually do pay a significant role in that.

So in 2016, home insurance was just like an afterthought when you were buying a house.

It was like one of the last things that you did before the house was yours.

And you could assume that the cost of your insurance premium was going to remain stable, something that you could kind of count on as a budget item.

But then, as we already discussed, a lot of people have seen their premiums go up, and in some cases, pretty dramatically.

So a lot of people are now being categorized as what's known as escrow burdened.

And this means that they pay more in property taxes and insurance than they expected when they initially bought their home.

So this recent report from risk analysis firm Catality, they found that average escrow payments are up 45% nationally over where they were five years ago.

And that's driven in large part by big increases in the Midwest and the South.

And in fact, it's actually becoming more common for people to pay more in property taxes and insurance than for the mortgage themselves.

So this not only hurts existing homeowners, especially people who are on a fixed income, but it also makes it harder for people who are trying to enter the housing market in the first place.

So it's interesting.

The industry is evolving at every level because they really recognize the enormity of the risk.

So there's more emphasis on making homes resilient to climate damage.

Some examples include impact-resistant roofing, which can really cut down on the damage caused by hail or wind.

You can build houses, roofs, and windows out of fire-resistant materials.

In areas with high risk of flooding, living spaces are being elevated to minimize the flood damage.

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