Climate change leaves homeowners without insurance

A warming climate is driving insurers to drop homeowners, making mortgages and homeownership increasingly unattainable in high-risk areas.

Christopher Flavelle reports for The New York Times.

In short:

• Since 2018, over 1.9 million home insurance policies have been canceled due to wildfire, hurricane and other climate risks.
• Areas with higher wildfire and hurricane exposure, including parts of New Mexico, South Carolina and California, have seen nonrenewal rates spike significantly.
• Without insurance, homeowners face falling property values and fewer mortgage options, destabilizing local economies.

Key quote:

"We used to take our wildland gear home, put it into storage about September, and then bring it back to the station in February. Now it doesn’t leave the trucks."

— Milo Lambert, Silver City’s fire chief

Why this matters:

Homeowners across the country are increasingly vulnerable as insurers retreat due to escalating climate risks. This trend threatens access to mortgages, local tax revenue and community stability, potentially forcing residents to abandon homes in high-risk areas.