Greener Living
US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount
Premiums kept artificially low don’t factor in rising danger from wildfires, floods and storms, making the market overdue for a correction.
Homes in Miramar, Florida.
Photographer: Joe Raedle/Getty ImagesThis article is for subscribers only.
Home insurance costs that have soared in much of the US may get even higher.
Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according to a new report from the First Street Foundation, a nonprofit that works to define and communicate risks posed by climate change.