Insurance companies are starting to abandon whole counties and states where the risks of climate change induced hurricanes or forest fires pose to great a risk for them to consider providing coverage any longer. Try getting a mortgage when you can't get disaster insurance.
@NorthernInvader I just went through the battle earlier this year. They make stupid demands about the property, I look for other insurance and no one will write new policies in my area, I have to do what insurance tells me (above what I already spend all year doing). They suck.
@NotoriousEPS states/feds are going to have to get into the property insurance business otherwise whole towns/communities will be abandoned/run down/economically ruined as people are no longer able to buy homes or renew their mortgages.
@NorthernInvader I believe Colorado has it in the works already, or are getting close (maybe next year). Hopefully we never have to use it.
@NotoriousEPS They're going o have to or be prepared to have massive realty bankruptcies (houses destroyed and people walk away), economies destroyed, increase in homelessness and so much more, none of it good.