The homeowners insurance crisis has expanded beyond Florida and California, with major insurers announcing withdrawals from 8 additional states citing climate-related losses and unsustainable wildfire and hurricane risk.
Newly Affected States
State Farm, Allstate, and Farmers are reducing coverage in Louisiana, Texas, Colorado, Oregon, Arizona, North Carolina, South Carolina, and Georgia. Hundreds of thousands of policies will not be renewed.
Consumer Impact
Homeowners in affected areas face premium increases of 40-80% when seeking replacement coverage, with some properties becoming effectively uninsurable through private markets.
- 8 new states losing major insurers
- Climate losses driving withdrawals
- 40-80% premium increases for displaced policyholders
- State insurance pools becoming last resort
