Climate Change Makes Insurance Unaffordable or Unavailable for Many Homeowners

State Farm, the largest homeowner insurance company in California, will stop selling coverage to homeowners in the state due to rapidly growing catastrophe exposure.
Homeowners in coastal states are being squeezed from yet another direction with flood insurance rates increasing due to growing losses and risk-based pricing.
Insurance companies are raising rates, restricting coverage, or pulling out of some areas altogether due to the financial impact of climate change.
Louisiana's insurance market is in crisis, with nine insurance companies failing and the state borrowing $500 million from the bond market to pay the claims of homeowners who had been abandoned when their private insurers failed.
The National Flood Insurance Program, which offered taxpayer-backed coverage to homeowners, is facing growing losses due to more severe storms, and FEMA is setting rates equal to the actual flood risk facing homeowners.