Homeowners scramble as troubling trend drives insurance costs skyward: 'The question isn't if other communities will feel the effects — it's where'

As researchers have predicted for decades due to the planet's climbing temperature, hurricane season in the U.S. is getting worse. With the 2025 season starting, Florida is still recovering from last year's storms. The increasing damage is raising insurance rates — not just in Florida but across the East Coast, a new report from Mansion Global revealed.

What's happening?

According to predictions from the National Oceanic and Atmospheric Administration, we will likely see three to five major storms between June 1 and Nov. 30, Mansion Global reported. This above-average hurricane season is part of a pattern of five years of increasing storms, worse than any other five-year period on record, according to a report from climate data firm First Street that was cited by Mansion Global. The damages have totaled $750.9 billion.

As a result, insurance companies throughout the southeast are raising prices. Homeowners are paying more for coverage, and many are simply being priced out. Home values are also falling, according to another report from Cotality.

This isn't just affecting Florida or other zones typically in the path of hurricanes. Houston, Texas, inland Louisiana, and the Atlantic coast are all being swept up in this change. In fact, homeowners who are not traditionally required to have flood coverage are being especially hard hit.

"With hurricane risk intensifying and [insurance] coverage retreating, the question isn't if other communities will feel the effects — it's where," the report stated, according to Mansion Global.

The First Street report also noted higher foreclosure rates in the affected areas, as relayed by the outlet. 

Why are these increasing costs important?

The more housing values plummet and insurance costs rise, the harder it is for homeowners to hold on to their houses. Families are losing homes, and vulnerable people are losing their most valuable asset. The financial implications could be long-lasting for the entire region.

This problem will continue to get worse as long as we pollute the atmosphere with heat-trapping gases and the Earth's rising temperature continues to create unstable weather patterns.

What's being done about rising costs?

Tom Larsen from Cotality pointed out that homes with lower risk are easier to insure. "Safer homes have a better long-term appreciation than riskier coastal homes," he said, according to Mansion Global. "There does seem to be a heightened awareness of the effects and risk of natural catastrophes."

For homeowners looking to buy, choosing houses in less disaster-prone areas may be smart. For those who already own homes, reducing risk by taking preventative measures can help lower your insurance rates. For example, choosing tile flooring instead of carpet makes the floors less prone to damage in the event of flooding.

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