Insight
Insurance costs in climate-challenged areas like Florida and California have escalated dramatically in recent years, making it harder to get insured. About 1 in 4 homes currently face severe or extreme climate risk.
The Silicon Valley Innovation That Could Help Landlords Cut Soaring Insurance Costs
Summary
Digital twin technology, using AI to create 3D models of homes, is emerging as a tool to help hosts lower insurance costs in areas with high climate risks. Hosts can use these models to document improvements and potentially negotiate lower premiums. Consider using this technology as it gains prevalence.
Key takeaway