Updated: Sep 29
Due to climate change, natural disasters are becoming a regular occurrence, resulting in rapidly increasing property insurance costs. This is making the effects of climate change transparent & tangible for property owners.
This Chart shows the number of $1 Billion+ natural disasters since 2003.
While this chart shows the increase in property insurance premiums for multifamily residences.
Rising property insurance costs are one of one of the most significant drivers of inflation, increasing 60% since 2015.
These Are the US States with The Highest ANNUAL Homeowner Insurance Premiums
The states with highest insurance premiums tend to be the states mostly prone to tornados, rather than the states with the highest home values or in coastal areas (where flood insurance is needed in addition to homeowner's insurance)
[Source: Motley Fool]
data paints a Clear (And Bleak) Picture of The Connection Between Burning Fuels, The Rise OF CO2 Levels, And Global Warming
Fortunately, the engineering marvels of today's world have produced and are producing climate technologies that will shift the world to cleaner and cheaper energy solutions.
Most notably renewable solar energy and wind energy that is more efficient than ever before, and submarine cable to connect regions and country's energy systems together in a way that was never done before.
These solutions don't require the burning of fuels and the omission of fumes into the atmosphere, providing the surest path to combat increased global temperatures, climate disasters and property insurance premiums.
[Source: IPCC Climate Change 2021]