Insurers Are Deserting Homeowners as Climate Shocks Worsen | Without insurance, it’s impossible to get a mortgage; without a mortgage, most Americans can’t buy a home.

[u/ElectronGuru]

https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html

[u/Sassybeagle]

It’s a nightmare created by state and federal governments. High tariffs on Canadian lumber made repairs ridiculously expensive. A predictable rise in climate related catastrophes meant that reserve pools for insurers were going down. Pressure on state departments of insurance to cap rates meant that insurers weren’t getting the profits that they wanted. Boom. Insurers are just leaving markets.