Monday, May 19, 2025

The spiraling costs of homeowners insurance

Also: How much emergency savings is enough? ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon May 19 2025

 

Daniel de Visé Personal Finance Reporter

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.

📰 More stories you shouldn't miss 📰

Best ways to tap home equity
Job-hopping for fertility benefits
Protests coming to Target
13 jobs that don't require a college degree
Social Security tasks you can do online

About The Daily Money

Each weekday, The Daily Money  delivers the best consumer and financial news from USA TODAY, 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.

Mud cakes everything on the Gray family's back porch at River Ridge Apartments in Asheville, NC, on Sunday, October 20, 2024, after the remnants of Hurricane Helene caused historic flooding.

Insurance protects homeowners from financial distress after climate disasters, but existing guidelines don't cover the scope of the problem.

The Federal Reserve had its first rate cut in September with more to follow in the months ahead. What will rate cuts mean for savers? Deposit rates have started to come down a little bit, but some promotions continue to be good.
 

Emergency savings matter in a recession. Here's a number to aim for.

Investopedia calculated exactly how much emergency savings the average household should have in 2025. It's a large number.

Hundreds protest outside a rally held byPresident Donald Trump at Macomb County Community College in Warren, MI, Tuesday, April 29, 2025 after his first 100 days in office.
 

Why is Trump trying to kill DEI? War on 'woke' DEI explained

From his first hours in office, President Donald Trump has been working to terminate DEI. But DEI is proving hard to kill. Here's why.

Pictured is a piggy bank with cash.
 

Americans are awash in home equity. Here are the best ways to tap it.

Converting your home equity to cash can be a daunting prospect. Here is some background on the options and what to keep in mind.

Christina Parker, left, with wife Kaylynn Parker and son Jack.
 

Fertility, child care benefits top of mind for millennial workers

As millennials take center stage in the workforce, employers are reconsidering what it means to care for their employees' wellbeing.

Target is adding plants and fresh-cut flowers to stores through its new Good Little Garden brand.
 

Protests coming to Target on anniversary of George Floyd's death

The Target protests are meant to pressure the retailer to re-establish its commitment to DEI and other demands by the organizers.

Delta Air Lines flight attendant Caitlin Blair displays the prepackaged snack bag and a sanitizing wipe that is offered to passengers on Delta flights at Sky Harbor International Airport on Oct. 13, 2020.
 

Jobs that don't require a college degree (and won't be replaced by AI)

These 13 positions don't require a college degree, offer good pay and career stability, and aren't at risk of replacement by AI.

A smiling person sitting in front of a laptop.
 

5 Social Security tasks you probably didn't know you could do online

Fortunately, you can complete a lot of important Social Security tasks online. And best of all, you'll never find yourself on hold.

Walmart logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration
 

Walmart warns higher prices are coming soon due to tariffs

The low-price retail giant warns that the high cost of tariffs will be passed on to consumers by the end of May.

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