Why more homeowners are eyeing 'self-insurance'

+ SCOTUS curtails federal agencies' power, handing it to courts US Edition - Today's top story: To insure or self-insure? The question homeowners must answer amid impact of climate change [View in browser]( US Edition | 1 July 2024 [The Conversation] [The Conversation]( Top headlines - [Supreme Court limits regulators, bringing focus to wording of laws]( - [College student-atheletes can be paid – but much remains uncertain]( - [Business boycotts were crucial to 1964 Civil Rights Act]( Lead story As if owning a house weren’t expensive enough these days, the price of homeowners insurance has been skyrocketing. The average U.S. homeowners insurance premium rose over 11% in 2023, according to the market intelligence firm S&P Global. That’s more than three times the overall inflation rate. And as climate change leads to more costly hurricanes, fires and floods, prices are likely to rise further. It’s enough to make some people give up on insurance entirely. In fact, millions of American homeowners have done just that, going without insurance and saving up to pay the full costs of any disaster that may befall their home. To the risk-averse among us, that may sound terrifying. But Rick Gorvett, an expert in actuarial science from Bryant University, says so-called “self-insurance” [can be a sound strategy]( for some homeowners. And it’s likely to become even more common. One last note: We’d like to thank all our donors for their support, which helped us meet our goal for this summer fundraising drive. Our donors make our work possible. Thank you. [ [Understand what’s going on in Washington and around the world. Get our Politics Weekly newsletter.]( ] Tracy Walsh Economy + Business Editor Home, risky home. Guven Demir/E+/Getty Images [To insure or self-insure? The question homeowners must answer amid impact of climate change]( Rick Gorvett, Bryant University Homeowners insurance is so expensive that some people are going without it. Environment + Energy - [What’s next after Supreme Court curbs regulatory power: More focus on laws’ wording, less on their goals]( Robin Kundis Craig, University of Kansas A widely anticipated Supreme Court ruling will sharply limit federal agencies’ power to interpret the laws that they execute and decide how best to carry them out. Science + Technology - [Disability community has long wrestled with ‘helpful’ technologies – lessons for everyone in dealing with AI]( Elaine Short, Tufts University Disabled people are experts in using – and designing – assistive technologies. They have lessons to offer everyone about keeping control when help is offered. - [How was popcorn discovered? An archaeologist on its likely appeal for people in the Americas millennia ago]( Sean Rafferty, University at Albany, State University of New York Corn has its roots in Mexico about 9,000 years ago. Education - [5 questions after the NCAA’s $2.75B settlement to pay college athletes]( Nikolas R. 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