California, Florida, and Louisiana are three states in particular that have seen significant insurance cost increases in their housing markets, with several insurers pulling out of those states altogether. Fast Company enlisted Jeremy Porter, head of climate implications research at First Street Foundation, a nonprofit research and technology group working to define and provide data about America's climate risk, to predict the percentage of local housing properties identified as at risk for "insurance correction." Homeowners in those locales would see their home insurance raised or not renewed due to risk from fire, wind, or flooding.
Among the 3,075 U.S. counties analyzed by First Street Foundation, 368 counties had at least 50% of local housing properties identified as at risk for "insurance correction" due to wind risk. Of those, 94 counties have 100% of their local counties at risk. Almost all of those counties are along the coastal region stretching from Massachusetts to Texas.
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