Science Friday Climate Change Is Upending The Home Insurance Market
11 snips
Jul 24, 2025 Benjamin Keys, a climate change researcher at the Wharton School, joins the discussion on how climate change is reshaping the home insurance market. He highlights the increasing difficulty homeowners face in obtaining affordable insurance as natural disasters become more frequent. The conversation delves into the rising premiums and the challenges presented in high-risk areas like Florida and Colorado. Keys emphasizes the need for data-driven decisions and community collaboration to navigate these looming threats in the housing market.
AI Snips
Chapters
Transcript
Episode notes
Idaho Couple's Insurance Struggles
- Sandy and Dave Nabifeld from rural Idaho had their home insurance dropped twice due to wildfire risk in five years.
- They managed to find another insurer but worry about future cancellations despite wildfire mitigation efforts.
High Florida Insurance Forces Moves
- An optometrist in St. Petersburg, Florida faced $15,000 insurance premiums, delaying his retirement plans.
- As premiums rise, many Floridians consider moving or find homeownership unaffordable.
Insurance Premiums Soar Nationwide
- Homeowners insurance premiums rose about 20% in real terms since early COVID times.
- Major factors include inflation, rising costs of materials, and climate-related disaster risk impacting insurer decisions.