A Public Model For Home Insurance
With every extreme weather event, housing is damaged and belongings are lost. Insurance is supposed to be the safety net that helps people to recover and restart their lives. But as major disasters like hurricanes, wildfires, and hailstorms increase in frequency and severity thanks to climate change, more insurance companies are cutting back on policies, jacking up premium rates, or refusing to cover whole areas of the country. This change is leaving people who live in affected homes—including everything from single-family houses to multifamily rental buildings—facing financial hardship and even homelessness, among other ruinous consequences.