The Impact of Climate Change on Insurance Costs

Insurance costs in regions susceptible to climate change, particularly Florida, have surged significantly, affecting homeowners' financial stability. The rising inflation in Florida is largely attributed to the escalating costs of housing insurance, particularly for properties near water or in flood-prone areas. For example, in North Carolina, a staggering 42% rate hike in homeowner’s insurance has been proposed following the devastating effects of Hurricane Helene, which resulted in catastrophic flooding and loss of life. This situation raises concerns about whether voters will recognize the correlation between these rising costs and climate change, especially in battleground states like North Carolina.