KQED's Forum The Home Insurance Crisis: A Conversation with Florida
Apr 18, 2025
Danielle Venton, a climate change reporter for KQED News, and David Brancaccio, host of Marketplace Morning Report and a wildfire survivor, dive into the home insurance crisis plaguing California and Florida. They discuss how insurers are raising rates and denying coverage due to climate-related disasters. David shares his personal story of loss, while Danielle highlights community-driven solutions and innovative insurance strategies. The conversation reveals the urgent need for reform and resilience in the face of climate change.
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David Brancaccio's Fire Loss Story
- David Brancaccio shares how his house in Altadena was destroyed by fire just two months after purchase.
- He describes the complex insurance claim process and challenges with mortgage-held insurance payouts.
Urban Smoke Damage Challenges
- Smoke damage in urban fire areas is more toxic and intense than rural wildfires.
- Insurance often doesn't cover smoke damage, leaving homeowners vulnerable and underserved.
State Farm's Market Impact
- State Farm's financial health is critical to California's insurance stability.
- If its rate hike fails, it might leave California, risking mortgage approvals for insured homes.