Why Americans Are Suddenly Losing Their Home Insurance

Many homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk. Watch the video to learn more about why homeowners are receiving non-renewal notices and what that means for the U.S. real estate market. Chapters: 0:00 Introduction 1:47 Chapter 1: The insurance market 5:03 Chapter 2: Alternate options 9:14 Chapter 3: Pricing in climate risk Produced and Edited by: Lindsey Jacobson Additional Camera by: Juhohn Lee Animation: Jason Reginato, Andrea Schmitz Additional Footage: Getty Images, Darlene Tucker Additional Sources: State Farm, U.S. News & World Report, Insurance Information Institute, U.S. Bureau of Labor Statistics