US Home Insurance Costs More Expensive in Areas of Climate Risk, Study Finds
Insurance prices have risen broadly across the United States in recent years, as the industry has grappled with rising construction costs and a rise in extreme weather events linked to rising global temperatures. Climate change is fueling more powerful and destructive storms.
Insurance Access For US Homeowners With Higher Climate Risks Declines
Homeowners in areas of the United States with the highest climate-related risks saw declining access to insurance, a Treasury Department report released Thursday said.
US home insurance costs rose more steeply in areas of climate risk, US Treasury Dept study finds
Homeowners in areas most at risk of damage from hurricanes, wildfires and other climate perils pay far more for insurance than those who live in the least exposed areas, according to a U.S. Treasury Department study released on Thursday.
Home insurance costs soaring as climate-related events surge, Treasury Department says
Climate-related natural disasters are dramatically driving up insurance costs for homeowners in the most-affected regions, according to a Treasury Department report Thursday. For consumers living in the 20% of zip codes with the highest expected annual losses,
Treasury report finds growing evidence of climate-fueled insurance challenges
The report includes ZIP-code-level information aggregated from 2018 through 2022, which covers 330 insurers and more than 246 million policies.
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