"‘Tight correlation’ between premium rises and counties deemed most at risk from climate crisis, experts say"

"Concern over the climate crisis may evaporate in the White House from January, but its financial costs are now starkly apparent to Americans in the form of soaring home insurance premiums – with those in the riskiest areas for floods, storms and wildfires suffering the steepest rises of all.

A mounting toll of severe hurricanes, floods, fires and other extreme events has caused average premiums to leap since 2020, with parts of the US most prone to disasters bearing the brunt. A climate crisis is starting to stir an insurance crisis.

Across all US counties, those in the top fifth for climate-driven disaster risk saw home premiums leap by 22% in just three years to 2023, compared to an overall average of a 13% rise in real terms, research of mortgage payment data has found. The Guardian has analyzed the study’s data to illustrate the places in the US at highest risk from disasters and insurance hikes."

Oliver Milman reports for the Guardian with graphics by Andrew Witherspoon December 5, 2024. [2]