ARKANSAS, USA — One way to curb soaring homeowners’ insurance premiums in Arkansas could be by building homes to withstand severe weather, Arkansas Insurance Department officials told legislators last week.
States that have residential mitigation programs require insurers to give discounts on homeowners’ insurance policies to homes designed to withstand strong winds and heavy rains, Arkansas Insurance Department Compliance Director Jimmy Harris told legislators during the Arkansas Legislature’s Joint Insurance & Commerce Committee meeting last Monday.
“We can’t control the weather, supply chain issues, building costs and the labor market,” Harris said. “What we can control is resiliency, mitigation, education and the insurance policy itself.”
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