BAKERSFIELD, Calif. (KGET) — A new study shows that California’s inland counties will face significant insurance premium jumps as climate change continues to send the cost of home insurance soaring.
Although the report commissioned by the Coalition for the Insurable Future predicts that northern inland counties will see the highest premium hikes by 2035, Kern County is anticipated to see home insurance premium rates rise between 44 and 94% annually.
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That means that Kern County residents could end up paying between $796 to $1,694 more annually in their home insurance premiums in just nine years.
The Coalition’s report – which was conducted by economic and strategy consultant firm Mandala Partners – found that California’s rising insurance premiums are primarily driven by wildfire risks…