50% of Homeowners at Risk: Insurance Companies Withdraw Coverage

As the planet warms, insurance companies are increasingly dropping coverage for homeowners in areas prone to wildfires and hurricanes. This shift could have profound economic impacts. Without insurance, obtaining a mortgage becomes impossible, severely limiting home purchases for most Americans. Communities deemed too risky for insurance face declining property values, which in turn reduces tax revenues for essential services like schools and police. This withdrawal of insurance not only destabilizes these communities but also serves as a predictor of future disruptions. The statistics show a clear trend: as climate change intensifies, the insurance landscape is changing, affecting millions of homeowners across the U.S.

Source: flowingdata.com

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