NEW POLLING: Home Insurance Costs Are Straining Household Budgets in Arizona, North Carolina, Iowa, Nebraska, and Kansas

New polling shows that three in four homeowners and renters in key states are concerned about the cost of their home insurance rising in the next three years

Washington, DC – As more frequent and costly extreme weather fuels a nationwide home insurance crisis, Climate Power and the Insurance Fairness Project released new polling on how homeowners and renters are impacted in five key states. The poll consisted of three separate surveys in Arizona; North Carolina; and Iowa, Nebraska, and Kansas. Across all three surveys, roughly three in four homeowners and renters are concerned about the cost of their home insurance rising in the next three years. Nearly one in three (30%) in North Carolina and one in four (26%) in Arizona, as well as Iowa, Kansas, and Nebraska, have had to put off a purchase or another expense because of their rising home insurance costs. 

Climate Power Senior Advisor Mia Logan issued the following statement: “While Americans are already stretched thin by rising costs on everything from groceries to gas to health care, climate change is now adding another burden: skyrocketing home insurance premiums. Families across the country are being forced to make tough financial trade-offs, and for many, the dream of owning a home is slipping further out of reach. From Arizona to North Carolina, people are feeling the squeeze and want their elected officials to step up and actually do something about it.”

“Over 75% of people surveyed support allowing states to recover money from polluters to fund community-level risk reduction. Over 60% support allowing those harmed by climate disasters to recover losses from oil, gas, and coal companies,” said TJ Helmstetter, spokesperson for the Insurance Fairness Project. “Voters want solutions that cut to the root causes of the issue and prioritize our wellbeing over excessive profiteering.”

Top findings include: 

• Majorities in all three surveys – 51% to 54% – are concerned that insurance costs will impact their ability to keep, sell, buy, or upgrade a home. In every survey, voters under 35 are far more concerned than those 65+.
• Roughly 3 of 4 homeowners and renters are concerned about the cost of their home insurance rising in the next three years.
• In North Carolina, 30% say they have had to put off a purchase or another expense because of insurance costs, with 26% saying the same in Iowa/Kansas/Nebraska and Arizona. Young adults (18-34) are among the most affected in every survey.
• 83-86% say elected officials in their state should do more to reduce rising insurance premiums – a finding that holds across party lines in every survey.

Read the full polling memo here.