Climate Change Threatens Homeowners Insurance Stability
Growing Crisis
Extreme weather from climate change is causing insurers to pay out more than they earn.
States like Iowa, once low-risk, are seeing insurers leave due to high payouts.
Climate Impacts
Increased frequency of severe weather events, such as hail and windstorms, is destabilizing insurance markets.
Homeowners are at risk of financial ruin without insurance.
Economic Consequences
Unstable insurance markets threaten the housing market, property values, and local tax revenues.
Millions are displaced by disasters, amplifying the need for reliable insurance.
Regional Challenges and Responses
The Midwest faces rising insurance losses from storms.
States like Colorado and California are implementing measures to make homes more resilient.
California's Wildfire Struggle
Wildfires are making it difficult for homeowners to get insurance in California.
The state is promoting fire-resistant improvements to homes to reduce risks.
Despite efforts, the insurance market remains under pressure from increasing wildfire threats.