The Daily Money: The spiraling costs of homeowners insurance
Good morning! It’s Daniel de Visé with your Daily Money.
Remember April? What a wild month. Here at The Daily Money, we're grateful that May has unfolded in relative peace, at least on the financial front.
But not all is calm. In the housing market, homeowners insurance has come to embody the effects of climate change. Over the past several years, more frequent and costly severe weather events have strained insurance companies, even as skyrocketing premiums punish homeowners’ wallets.
Now, new research proves what many observers have assumed, but rarely quantified: insurance may soon become too much for homeowners to afford.
How much emergency savings is enough?
The average American family in 2025 should have at least $35,000 in emergency savings, according to a new report from Investopedia. And the figure keeps rising.
That tab represents six months of emergency expenses for the typical American household, and it totals about two-fifths of that household’s annual income. Click here to see how we arrived at the figure.
Is DEI dead yet?
With the swirl of a black Sharpie marker, President Donald Trump issued an executive order on his first day back in the White House, cracking down on what he calls “illegal and radical” diversity, equity and inclusion practices.
It was the first in a series of actions to make good on campaign promises to wipe out DEI.
And yet, observers on both sides of the political aisle acknowledge that DEI is not dead yet.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.