As climate change accelerates, hurricanes, wildfires and hail storms pound the U.S. with growing vigor—and the insurance market is struggling to foot the bill of the damages they leave behind for customers.
In 2023 alone, extreme weather cost the U.S. more than $92 billion. And it’s not just home insurance providers that are hiking rates.
Now, car insurance quotes are reflecting trends seen across the home insurance market as climate change becomes an increasingly prevalent — and costly — factor.
This could spell trouble for car owners, experts say. Vehicles are a key means of escape during a climate-driven disaster, but they can also fall victim to floods and fires just as homes do.
Primary and secondary perilsWhen Hurricane Helene whipped through the southern U.S. in early October, cars floated down streets like boats as flood waters submerged entire neighborhoods. Other vehicles were pulverized by felled trees or flying debris.
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