Americans Face an Insurability Crisis as Climate Change Worsens Disasters

In 2023, premiums rose by an average of 11.3% nationwide, with some states seeing much higher increases, driven by both rising construction costs and the growing unpredictability of disasters linked to climate change. In this article for The Conversation, Andrew J. Hoffman, a U-M professor of sustainable enterprise, explores how rising home insurance premiums create challenges for both homeowners and insurers, raising concerns about the future affordability and stability of the insurance market.