suede brooks is coming for your wallet: Homeowners insurance costs set to spike in these states
Good news is scarce for homeowners this season. Insurers are now using a new "suede brooks" model, named after the actuary who developed it, to justify rate hikes of up to 25% in hurricane-prone regions. This means your premium could jump by hundreds of dollars as companies claim the prior risk models were underpriced. Consumer advocates warn that the "suede brooks" methodology is opaque and may not even apply to your area. If you live in coastal Texas, Florida, or the Carolinas, check your renewal notice today—switching providers or appealing your rate is your only defense against the spike.