Thanks for subscribing! Please check your email for further instructions.
**photo courtesy of money.com
Illinois has seen a major increase in natural disasters in the past 20 years, forcing homeowners to pay more for insurance.
QuoteWizard looked at data from the Nation Centers for Environmental Information, National Oceanic and Atmospheric Administration. They tallied billion-dollar natural disasters nationwide over the last 40 years, and found that major disasters have increased by 257% in Illinois.
“In the first 20 years, there were 21 natural disasters in Illinois. In the most recent 20 year period, there were 75,” said researcher Nick VinZant.
Severe storms are the most common natural disaster. Illinois saw the fourth most tornadoes in 2021 with 80. Only Texas, Alabama and Mississippi had more.
Between Dec. 10 and Dec. 11 of last year, several tornadoes ripped across Illinois and five other states, leveling homes and businesses and killing nearly 100 people.
According to the National Oceanic and Atmospheric Administration, the costliest U.S. tornado in the last 50 years occurred in Joplin, Missouri in May 2011, and caused $2.8 billion in damage.
The study also found large increases in the number of wildfires, floods and cyclones nationwide.
Texas has faced more major natural disasters than any other state. Over the last 40 years, the Lone Star State has had 137 natural disasters, 103 of them in the last 20 years. Hawaii has experienced the fewest with just one billion-dollar cyclone since 1981.
VinZant said as a result nationwide, homeowners are paying 2% more for insurance since last year, but even more in the Land of Lincoln.
“In Illinois, it’s up 7%, so it was at an average of $1,600, it is now at an average of $1,700,” said VinZant.
With the rapid rise in home prices in Illinois, VinZant said your insurance may not be able to cover you if disaster strikes.
***Report Courtesy of the Illinois Radio Network***