Major insurance companies are pulling out of entire states, leaving millions of homeowners scrambling for coverage — often at dramatically higher prices.
Hardest-Hit States
Florida: 7 insurers have exited since 2022. Citizens (state insurer of last resort) now covers 1.4 million policies — 2x its intended capacity. Average premium: $4,200/year (national average: $1,800).
California: State Farm and Allstate stopped writing new policies. Wildfire risk makes 1 million+ homes "uninsurable" in the private market.
Louisiana: 12 insurers have left post-Hurricane Ida. Premiums tripled in coastal parishes.
Texas: Hail damage is the primary issue. $15,000+ annual premiums in hail-prone areas.
Colorado: Wildfire and hail combining to make the Front Range increasingly uninsurable.
What Homeowners Can Do
- Harden your home: impact-resistant roof, brush clearance, storm shutters
- Increase deductible to lower premiums (but ensure you can afford it)
- Shop surplus lines carriers and state FAIR plans
- Document your home with video for claims purposes
