Do people that live near nuclear power plants have higher insurance rates?



  1. 0 Votes

    I could not find a specific answer to this question, but I believe so. Insurance companies are (naturally) extremely sensitive to risk, and rates will vary by locality based on the potential hazards in that locality. For example, if you live on the coast of Florida, you’re going to pay higher homeowner’s insurance premiums than you would if you lived in Kansas (assuming that the risk of catastrophic loss from a hurricane is more likely than the risk of destruction by tornadoes!) Insurers will use almost anything as a justification to hike rates. After the recent earthquakes in Haiti and Chile, homeowners in California suddenly found their premiums raised! I did find some evidence that the location of nuclear facilities does impact insurance rates. In Delaware, for instance, where many communities are within a 50-mile radius of four nuclear power plants, insurance rates may be higher due to that reason.

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