Ultra Rich Pay $620,000 to Shield Mega Mansions From Disaster Risk
Insurance premiums are soaring as climate risk grows, pricing everyone but the wealthy out of some coastal areas.
Miami’s Star Island is one of the nation's priciest neighborhoods.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Even for Star Island, the most exclusive enclave in Miami, the bill is a shocker: $622,000.
That’s per year — for homeowners insurance.