Home Insurance Premiums Rise as Americans Flock to Weather-Worn States

As more Americans migrate to states that are prone to natural disasters, such as wildfires, hurricanes, and floods, the cost of home insurance is on the rise. According to a recent report from online insurance marketplace Zillow, home insurance premiums have increased 8% since 2015 in high-risk states like Texas, Florida, and California.

This trend is not entirely unexpected. As climate change leads to more extreme weather events, insurers are having to cover more expensive damages. In addition, the migration to risky states also means that there are more homes that need insuring, which adds to the increased premiums.

While homeowners have no choice but to pay up, insurers are finding ways to mitigate the risks. Some companies are offering discounts for homes that have been built or retrofitted with added resiliency measures such as impact-resistant windows and roofs. These measures can reduce damage during a storm, and ultimately lower insurance costs.

There’s no doubt that climate change is affecting the world in many ways, and this report serves as a reminder that our environments will continue to change. For homeowners, however, it falls on them to take the necessary steps to ensure that their homes are protected. Whether that means investing in added resiliency measures, researching insurance policies, or simply being aware of the risks, it’s essential for all homeowners to be proactive.