If you own a home in a flood-prone community or in a wildfire-prone area, you’ve probably seen your flood or home insurance rates go up in the last year, or are worried that they soon will. You may even worry you’ll be dropped entirely by your insurance provider.
If you’re a renter, you too may be feeling the pinch as rising insurance premiums are also hurting the rental market for affordable housing. Accelerating risks from climate change are colliding with shortcomings in insurance markets—such as a lack of transparent information and affordability provisions—to create a perfect storm for people and communities on the front lines of floods, droughts, and wildfires. As climate scientist Michael Mann has said, “Uninsurability is the first stage of uninhabitability.”
An insurance market in crisis
Last year, I wrote about the worsening risks of climate…
Read the full article originally published at blog.ucsusa.org.