The US Climate Extremes Index (CEI) was 65% above average in 2023, according to the National Oceanic and Atmospheric Administration’s (NOAA) 2023 National Climate Report, while a record number of weather and climate disasters that cost at least $1 billion each occurred, totaling $92.9 billion in damages.
Yahoo Finance Senior Columnist Rick Newman joins Wealth! to break down how climate issues are affecting household budgets and how Americans may need to start taking climate conditions into consideration when fixing up and insuring their homes.
The NOAA predicts 2024 to be a record year for hurricane season and weather-related damages, reporting catastrophe losses of up to $25 billion so far this year.
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