A report by First Street Foundation has found that 39 million U.S. homes are at Risk of losing Insurance coverage due to climate risks. Currently, about 6.8 million properties already rely on expensive public insurance programs. However, as climate change worsens, insurance companies are pulling out of areas with a high threat of wildfires, floods, and storms, leaving homeowners to enroll in government-run insurance programs with significantly higher premiums. The report also highlights that rising insurance costs severely undermine home values, with some properties becoming effectively worthless. Moving people out of disaster-prone areas may be necessary in the future.

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