How Will Climate Change Impact Your Minneapolis Duplex?

It’s estimated Hurricane Helene’s 500 miles of destruction created $6 billion in insured losses.

The uninsured losses are far greater. After all, it’s estimated that somewhere between 5 and 15% of property owners nationwide have flood insurance.

In other words, most of the damage won’t be covered.

As climate change heightens weather volatility, how can you know whether your duplex, triplex, fourplex or single-family home is at high risk for its consequences?

Last week, First Street launched a collection of risk-assessment technology for every nearly property listed for sale on Zillow. The data includes the likelihood of a property experiencing climate-related flooding, fire, wind, air quality or heat event. It also reports its history with these kinds of events, as well as projects the estimated risk percentages 15 and 30 years in the future.

If you’re a Minneapolis or St Paul duplex investor, the good news is the tool can help you decide on the best insurance coverage.

Of course, the bad news for all of us is the more extreme weather events any of us experience, the higher the likelihood our insurance premiums will go up as well.