Home insurance prices are rising due to climate disasters and shaping commissioner elections
As climate change fuels natural disasters and skyrocketing insurance premiums, voters are paying more attention to state insurance commissioner races, a once-overlooked office that regulates these markets.
Jesse Nichols reports for Grist.
In short:
- Insurance premiums have spiked by 33% since 2020 due to increasing wildfires, storms, and climate-related risks.
- Insurance commissioners, who oversee insurance rates, are now at the center of elections, particularly in disaster-prone states like North Carolina.
- Candidates are grappling with balancing affordable insurance and addressing climate-related damages.
Key quote:
"If the voters are connecting the dots, they should understand that what they’re experiencing — in terms of increased price and lack of availability of insurance — is driven by climate change."
— Dave Jones, former California insurance commissioner
Why this matters:
Climate change is driving higher insurance premiums nationwide, particularly in vulnerable regions. As premiums become less affordable, voters will expect their elected officials to address the rising costs and climate risks affecting their communities.
