Science
Rising Home Insurance Premiums Are Eating Into Home Values in Disaster-Prone Areas
This Louisiana resident expects to pay 45 percent more for home insurance this year.
Similar increases are hitting homeowners across the state, where insurance costs have exploded over the past four years.
It’s part of a rapid shift that’s sending tremors through real estate markets across the country.
Even after she escaped rising floodwaters by wading away from her home in chest-deep water during Hurricane Rita in 2005, Sandra Rojas, now 69, stayed put. A fifth-generation resident of Lafitte, La., a small coastal community, she raised her home with stilts.
But this year, her annual home insurance premium increased to $8,312, more than doubling over the past four years.
She considered selling, but found herself in a dilemma. As insurance costs have risen, area home values have fallen, dropping by 38 percent since 2020. The roadsides around her house are dotted with for-sale signs.
“They won’t insure you,” Ms. Rojas said. “No one will buy from you. You’re kind of stuck where you are.”
New research shared with The New York Times estimates the extent to which rising home insurance premiums, driven higher by climate change, are cascading into the broader real estate market and eating into home values in the most disaster-prone areas.
The study, which analyzed tens of millions of housing payments through 2024 to understand where insurance costs have risen most, offers first-of-its-kind insight into the way rising insurance rates are affecting home values.
Since 2018, a financial shock in the home insurance market has meant that homes in the ZIP codes most exposed to hurricanes and wildfires would sell for an average of $43,900 less than they would otherwise, the research found. They include coastal towns in Louisiana and low-lying areas in Florida.
Changes in an under-the-radar part of the insurance market, known as reinsurance, have helped to drive this trend. Insurance companies purchase reinsurance to help limit their exposure when a catastrophe hits. Over the past several years, global reinsurance companies have had what the researchers call a “climate epiphany” and have roughly doubled the rates they charge home insurance providers.
Benjamin Keys at the Wharton School of the University of Pennsylvania and Philip Mulder of the University of Wisconsin-Madison, the authors of the study, which was published this week, have called these swift changes “a reinsurance shock.” For some Americans, these changes have made it unaffordable to remain in homes they have lived in for decades.
“Homeowners don’t appreciate or don’t understand that we are living in a much riskier world than we were 25 years ago,” Dr. Keys said. “And that risk? They have to pay for it.”
After analyzing 74 million home payments — which included mortgage, taxes and insurance and were made between 2014 and 2024 — the researchers found that a rapid repricing of disaster risk had been responsible for about a fifth of overall home insurance increases since 2017. Another third could be explained by rising construction costs.
The researchers estimated the effects of the reinsurance shock on home prices in the ZIP codes most vulnerable to catastrophes. They found that rising insurance premiums weighed down home values by about $20,500 in the top 25 percent of homes most exposed to catastrophic hurricanes and wildfires, and by $43,900 in the top 10 percent.
Buying a home has long been seen as a way to lock in predictable housing costs. But the fast-increasing burden of insurance is catching some homeowners by surprise.
Last year, Ms. Rojas’s brother-in-law, who lived down the road in Lafitte, decided to sell his home to escape the area’s rising premiums. It sold for $150,000, which is what it cost him to build it in 1984. He estimated he lost about $75,000 on the sale, after accounting for the cost of renovations.
In parts of the hail-prone Midwestern states, insurance now eats up more than a fifth of the average homeowner’s total housing payments, which include mortgage costs and property taxes. In Orleans Parish, La., that number is nearly 30 percent.
A hundred miles north of Lafitte, the small city of Bogalusa, La., lies further inland. Nevertheless, Cristal Holmes saw her insurance premium more than quadruple in 2022, to $500 per month, on top of her $700 monthly mortgage.
Ms. Holmes, a single mother who was working 56 hours a week at a warehouse, struggled to keep up with the higher bills. She fell behind on mortgage payments after her work hours were reduced to 35 per week. She worried she couldn’t stay in her home.
Similar stories are playing out all over town. Ms. Holmes’s real estate agent, Charlotte Johnson, said her office was getting phone calls every day from people who said they could no longer afford their rising insurance premiums. For many, dropping insurance is not an option, because banks refuse to offer or maintain mortgages for people without coverage.
That means owners are being forced to choose between accepting home insurance policies they can’t afford or risking foreclosure.
Buyers face their own obstacles. High insurance prices and interest rates are making it harder than ever for first-time buyers to purchase homes, said Nancy Galofaro-Cruse, a senior loan officer with CMG Home Loans who works with many of Ms. Johnson’s clients. She estimated that more than a third of would-be buyers in the area backed out of the market this year after insurance and interest rates pushed their total monthly housing costs out of reach.
It’s not just the hurricane-prone coasts that have been affected by the reinsurance shock. In Colorado, where wildfires and hail pose the biggest threats to homes, the average homeowner’s premium has more than doubled in the last decade and median premiums have increased 74 percent since 2020.
Steve Hakes, an insurance broker with Rocky Mountain Insurance Center in Lafayette, Colo., has seen clients consider homes in wildfire-prone areas, only to back out when they can’t find affordable insurance. High prices and limited availability have pushed him to advise buyers to look for insurance early in the homebuying process.
And in California, 13 percent of real estate agents surveyed by an industry trade association said they’d had deals fall through in 2024 after buyers couldn’t find affordable insurance coverage.
Colorado regulators are aware of the threats these dynamics pose to the real estate market and are exploring a wide range of fixes, said Michael Conway, the Colorado insurance commissioner.
“We don’t want a situation where the insurance market is effectively decimating the real estate market,” he said.
As insurance becomes more expensive, home values will need to adjust for potential buyers to afford their monthly costs, industry analysts say. And if home values fall, lower property tax revenue could mean less money for local governments to pay for essential services or affect the ability of those governments to borrow money.
Clarence Guidry reached a breaking point this year when he got a quote to insure his home in Lafitte, La. He’d pay a $20,000 annual premium but if a hurricane struck, he’d be on the hook for the first $50,000 in damage before the insurance company would pay out.
His lender wouldn’t let Mr. Guidry, who goes by Rosco, keep his mortgage without home insurance. But keeping his home insured against damage from hurricanes would mean stomaching monthly payments that are at least 40 percent higher than the rest of his monthly mortgage and property taxes combined.
Over the last decade, as the number of wildfires and storms has mounted, losses have exceeded the revenue insurance companies receive from home insurance policies across the United States. In Louisiana, 12 companies, including Mr. Guidry’s insurer, became insolvent after a wave of hurricanes between 2021 and 2023. (Most private insurers do not cover flood damage, which is handled separately under a federal program.)
Insurance companies’ own costs have climbed in recent years for a variety of reasons, including higher construction costs, higher interest rates and President Trump’s tariff policies.
But the changes in the insurance market have begun to put a higher price on risk. Reinsurers have been driving these effects, Dr. Mulder said.
“These reinsurers are looking at a lot of the same data as insurers, but at a much bigger scale and with more sophistication,” he said.
Politicians, homeowners, economists, state insurance commissioners and real estate agents have long worried that insurance costs will rise so much that they will begin to pull down home values.
According to the study by Dr. Keys and Dr. Mulder, which was published as a working paper in the National Bureau of Economic Research, this is already happening in some areas.
Jesse Keenan, an associate professor of sustainable real estate and urban planning at Tulane University, said the direct evidence of this phenomenon remained limited and there were factors beyond insurance that affected local home prices.
But there are increasingly troubling signs in some markets, he said.
“The New Orleans housing market is exhibiting signs of failure that are imposing stress on the financial system around it,” he said.
Overall, U.S. home prices have risen about 55 percent since 2018, but New Orleans prices have increased by only 14 percent, less than the rate of inflation over the same time period.
Even in states where heavy regulations have kept costs down, there are signs that home insurers will continue to raise premiums to align more closely with disaster risk. New rules in California allow insurance companies to pass rising reinsurance costs on to consumers. One consumer advocacy group, citing the effects of similar changes in other states, has estimated this provision could raise net premiums significantly for homeowners.
Back in Lafitte, Mr. Guidry was running the numbers for his own budget. Against the advice of his financial adviser, he took money out of his retirement account to pay off his home loan. The plan now is to self-insure for wind and hail damage. That means he and his wife will have to pay out of pocket to repair their home if another severe storm hits.
In forgoing coverage, the Guidrys join some 13 percent of U.S. homeowners who are uninsured, according to Census Bureau data. Insurers continue to drop people in many areas.
“Now, we’ve got to take the gamble,” Mr. Guidry said.
Methodology
Benjamin Keys and Philip Mulder calculated annual homeowners’ insurance costs by separating mortgage and tax payments from loan-level escrow data obtained from CoreLogic, a property and risk analytics firm. Households whose payments were captured by CoreLogic were not necessarily present in all years of data from 2014 to 2024.
The home insurance share of total home payments are based on mean values. Total home payments include insurance, property tax and mortgage principal and interest costs. Escrow payments typically do not include utilities, homeowners’ association fees.
Science
New report on L.A. post-fire beach contamination finds something unexpected: good news
Researchers investigating the long-term effects of the 2025 firestorms on L.A.’s beaches have found that rarest of things: good news.
In the year following the Palisades and Eaton fires, levels of harmful metals like lead in coastal sand and seawater have remained far below California’s limits for safe drinking water and the U.S. Environmental Protection Agency’s safety thresholds for aquatic life.
“We’re not seeing any evidence for harm in the ecosystem or harm for human health,” said Noelle Held, a University of Southern California marine biogeochemist and principal investigator for the CLEAN Waters project, which is measuring post-fire water quality.
The Palisades and Eaton fires burned more than 40,000 acres and destroyed at least 12,000 buildings, blanketing the ocean in ash for up to 100 miles offshore. Heavy rains a few weeks later washed the charred remnants of plastics, batteries, cars, chemicals and other potentially toxic material into the sea and up onto beaches via the region’s massive network of storm drains and concrete-lined rivers.
Initial testing by the nonprofit environmental group Heal the Bay in the weeks after the fires documented a spike in lead, mercury and other heavy metals in coastal waters. Concentrations of beryllium, copper, chromium, nickel and lead in particular were significantly above established safety thresholds for marine life, prompting fears for the long-term health of fish, marine mammals and the marine food chain.
For their most recent study, Held’s team analyzed seawater samples collected along multiple locations on five different dates between Feb. 10 and Oct. 17 in 2025, along with sand collected in August.
Seawater lead concentrations were highest in the month after the fire and in October, when the season’s first major rain had just washed months’ worth of urban pollution into the ocean.
Even at their peak, lead levels barely surpassed 1 microgram per liter — well below the U.S. Environmental Protection Agency’s aquatic life safety threshold of 8.1 micrograms per liter.
While levels of iron, manganese and cobalt were higher in sampling locations near the Palisades burn scar than they were in other areas, even there they remain well below concentrations that could pose harm to human or marine life.
For beach sand collected in August, lead levels never topped 14 parts per million at any location, significantly below both the current California residential soil standard of 80 parts per million and the stricter 55 parts per million standard proposed by environmental health researchers.
“This isn’t something we would flag if we were testing your soil in your yard,” Held said.
The recent findings are consistent with water quality tests the State Water Resources Control Board conducted earlier in 2025. A board spokesperson said those found both higher relative concentrations of metals closest to the burn scars and no overall evidence that post-fire pollution poses an ongoing threat to human health.
Yet the need for continued testing remains. Officials struggled to answer questions about post-fire beach safety in part because of a lack of historical data on pollution levels, a pitfall researchers would like to forestall before another disaster arrives.
Future rainstorms could also continue to wash metals into Will Rogers Beach and the Rustic Creek outfall, both of which are near the Palisades burn scar, CLEAN Waters warned.
“Post-fire impacts can change over time, depending on rainfalls, runoffs and sediment movements,” said Eugenia Ermacora, manager of the nonprofit Surfrider Foundation’s L.A. chapter, which has partnered with Held’s team to collect samples. “It’s not just about the fires, but it’s about urbanization and how much our city needs to continue the work of doing testing in the water.”
Science
Freaked out by the news? Tips for staying calm from ex-refugees, hostages and ‘uncertainty experts’
War in Iran. Sleeper cells. Soaring gas prices. A new virus. ICE arrests. The acceleration of AI. And a rogue food delivery robot. Is your heart racing yet?
Amid one of the highest-stakes, most chaotic news cycles in recent memory, it’s hard to keep calm while scrolling through the day’s doom-saturated headlines.
Fear not. A team of British scientists, two authors and a group of thought leaders once deemed societal outcasts are here to help. Sam Conniff and Katherine Templar-Lewis’ new book, “The Uncertainty Toolkit: Worry Less and Do More by Learning to Cope With the Unknown,” presents evidence-based strategies to help you not only tolerate uncertainty, but thrive in the face of it.
Conniff, a self-described author and “social entrepreneur,” and Templar-Lewis, a neuroscientist, partnered with the University College London’s Centre for the Study of Decision-Making Uncertainty as well as real world “uncertainty experts” — former prisoners, drug addicts, hostages, refugees and others — to execute the most extensive study to date on “Uncertainty Tolerance,” which published in 2022. Their web project, “Uncertainty Experts,” is an interactive “self development experience” that includes workshops and an online Netflix-produced documentary, through which viewers can test their own uncertainty tolerance.
Their “Uncertainty Toolkit” book, out April 7, addresses the three emotional states that uncertainty puts us in — Fear, Fog and Stasis — while blending personal stories from the subjects they interviewed with the latest science on uncertainty, interactive exercises and guided reflections.
“The Uncertainty Toolkit” aims to help you keep calm amid chaos.
(Bluebird / Pan Macmillan)
“We are scientifically in the most uncertain times,” Templar-Lewis says. “There’s something called the World Uncertainty Index, which charts uncertainty [globally]. And it’s spiking. People say life has always been uncertain, and of course it has; but because of the way we’re connected and on digital platforms and our lives are so busy, we’re interacting with more and more moments of uncertainty than ever before.”
We asked the authors to relay three strategies for staying calm in challenging times, as told to them by their uncertainty experts.
This interview has been edited for length and clarity.
Advice from an ex-addict: Be grateful: Morgan Godvin is an ex-addict and human rights activist from Oregon who served four years of a five-year sentence in a federal prison, Conniff says.
“She developed a practice of ‘Radical Gratitude.’ Even in a world that feels so overwhelming, we can all find an object from which to derive a sense of gratitude,” he says. “As an emotion, gratitude provides a counterweight to anxiety that is almost as powerful as breath work or any of the other [anti-anxiety] well-known interventions.”
In prison, Godvin — who suffers from anxiety — created a daily practice to help her cope. “She began being grateful for the blankets, the only thing she had — and they were threadbare blankets,” Conniff says. “And by digging deep and really emphasizing the warm sensation we know of as gratitude, it became a biological hack. When the body starts to feel grateful, the hormones the body releases brings it back into what’s known as homeostasis or a sense of equilibrium; it activates the parasympathetic nervous system. It’s a very humbling and very healthy practice when the world’s just too much.”
Advice from a survivor of suicidal depression: Lean into the unknown. Vivienne Ming is a leading neuroscientist based in the Bay Area who faced a web of personal challenges in her early 20s. Ming, who was assigned male at birth, dropped out of the Massachusetts Institute of Technology, became homeless and was “living out of their car with a gun on their dashboard,” Conniff says. “They faced homelessness and near suicidal depression before finding a path that took them through gender transition to a place of real identity, marriage, family and success as a scientist.”
How? They developed and cultivated an awareness of “negativity bias,” Conniff says. “We all have a predetermined negativity bias. And in times of uncertainty, that negativity bias goes off the charts and we start to limit ourselves and shut ourselves down. By understanding this, we begin to be able to make a choice: Am I shutting myself down to the opportunities of life? Am I not getting back to people? Am I not taking the chances that are presented to me?”
What’s more, uncertainty, Dr. Ming pointed out, is actually good for you. It unlocks parts of your brain.
“Uncertainty drives neuroplasticity, our ability to learn,” Conniff says. “So [it’s about] resisting negativity bias — that this is all dangerous and difficult and we’re told not to trust each other — and instead, Dr. Ming’s response is to lean into the unknown. She says ‘the best way forward is to all walk slowly into the deep end of our own lives.’”
Advice from an ex-refugee: Reflect on your gut. Rez Gardi grew up in a refugee camp in Pakistan, before her family relocated to New Zealand. She’s now a lawyer and human rights activist working in Iraq.
“Rez correctly identified the scientific explanation for what we all call ‘gut instinct,’” Conniff says. “It’s known as ‘embodied cognition.’ The idea is that we have two brains — the gut instinct is an incredibly complex system of data points and it literally is in our gut and it’s connected to our brains via the vagus nerve. What it does is it brings your intuition in line with your intellect.”
So how to tap into it? “Rez talked about reflecting on her gut instinct,” Conniff says. “So when you have a feeling that you are right or wrong, go back to that feeling: What color was it? What shape was it? Where was it in your body? What temperature was it? Rez honed her gut instinct to become incredibly accurate: Should she trust this person? Was she safe? And that gut instinct became a highly tuned instrument. When we are trying to solve problems, when we are trying to communicate, these signals are as accurate as the best of our cognitive problem-solving abilities.”
Conniff and Templar-Lewis spoke to nearly 40 uncertainty experts in all. And with all of them, Conniff adds, “they kind of learned these techniques themselves, but the scientific evidence really backs it up.”
Science
How a Melting Glacier in Antarctica Could Affect Tens of Millions Around the Globe
Scientists spent the first weeks of the year on an expedition to Antarctica to study Thwaites Glacier, which is melting at an alarming rate. If it breaks apart entirely, it could push up global sea levels by two feet over the course of several decades, affecting tens of millions worldwide, according to a New York Times analysis.
The maps below show some of the coastal cities at risk and populated, low-lying areas that could be threatened if the glacier were to collapse today.
1.7 million
These are just the minimum effects that Thwaites’s disintegration would be likely to have on the world’s coastlines. As the glacier breaks apart, global warming will raise sea levels even higher by melting the ice from Greenland and causing oceans to expand in volume. And Thwaites acts as a plug, holding back many of the Antarctic glaciers on land around it. If it collapses, they could break apart and spill into the sea as well.
“Eventually it would take out all of the West Antarctic,” said Richard Alley, a professor of geosciences at Penn State.
Seaside cities all over the world are at risk, but the threat is especially acute in Asia, and includes some of the world’s fastest-growing urban areas, as the map below shows:
The costs of guarding against higher storm surges and more frequent flooding would be huge. One proposal from the U.S. Army Corps of Engineers to protect parts of New York City would cost more than $52 billion, a price tag that would be out of reach for much of the world.
“We’ll defend the highest-value places that are defensible, but there will be other places that we don’t,” said Benjamin Strauss, Chief Scientist at Climate Central, a nonprofit science organization that produced the elevation models used in this article.
In city after city, the Times’s analysis found that heavily populated areas tend to be near the coasts, as opposed to higher, safer areas.
Shanghai, one of the major cities under threat, already has more than 600,000 residents living below sea level. If average sea levels rose two feet, an additional 4.7 million people would be affected.
Shanghai’s population at each elevation
Like many of the most vulnerable places, Shanghai is situated on a soft, marshy delta, a landscape naturally prone to sinking, although humans often speed up the process by building structures and draining the groundwater below. The city has also been adding and reinforcing seawalls, and replacing concrete with wetland parks to absorb stormwater.
For places like Shanghai, the cost of defending the city is relatively modest compared with its value, said Jochen Hinkel, director of the Global Climate Forum, an international research organization based in Germany. “There’s so much capital concentrated on a small piece of land,” he said.
But not all places have the resources to protect themselves. Dhaka, the capital of Bangladesh, is expected to swell to over 50 million people by 2050, and will rely extensively on borrowed money to prepare for the worst.
Dhaka’s population at each elevation
Bangladesh, a low-lying delta nation, is experiencing more volatile monsoons and stronger cyclones as the planet warms. Villages have already been erased as the tides rise and rivers in the region change shape. Saltwater tides have ruined farmland, driving rural residents to the already-crowded capital.
The limits to adaptation
In the United States, a two-foot increase in sea levels wouldn’t affect as many people as in parts of Asia, but the price of adaptation would be astronomical. And even in the wealthiest country in the world, flood defenses aren’t bulletproof.
When the network of pumps and levees failed during Hurricane Katrina in 2005, the catastrophe killed 1,400 people and displaced more than a million. Recovery in New Orleans has cost about $140 billion. Dozens of smaller communities along the Gulf Coast may not be so lucky.
120,000 people within 2 feet of high tide
Areas protected
by levees
125,000
Coastal cities elsewhere are bracing for higher sea levels. It would cost $13.6 billion to shield part of the San Francisco waterfront. Farther inland in California, it would take $2 billion to improve protections in Stockton. Across the country, a giant barrier at New York City’s harbor could cost $119 billion.
Yet people and buildings continue to accumulate in harm’s way. Miami’s population and real estate values have exploded in recent years, despite the fact that the city is notoriously difficult to protect.
Clearer answers about if, and when, Thwaites could collapse may make all the difference in how well coastal areas are able to adapt. “The value of the information is grotesquely higher than what we’ve invested in it,” Dr. Alley said.
Under President Trump, the United States has abandoned research that could better forecast the effects of Antarctica’s melting ice. It has also promoted the use and burning of fossil fuels, adding to the greenhouse gas emissions that are dangerously heating the planet. That could speed up the glacier’s collapse.
The fallout from decisions made today may not be felt immediately, Dr. Strauss said, but “this is what we’re signing up the future for.”
Methodology
The Times’s analysis includes cities with 300,000 residents or more and within 100 miles of the coast.
It used elevation data from Climate Central’s CoastalDEM 3.0 to calculate the average high tides at each location. This model reflects local water levels more accurately than global averages. It used data from the European Commission’s Global Human Settlement Layer (GHS-UCDB) for city boundaries and Worldpop’s 2026 data for population estimates.
The sea level rise scenarios in this article focus only on the effects from Antarctica. The continent is expected to lose its gravitational pull on ocean water as it loses ice. As that happens, parts of the Northern Hemisphere, including the United States and much of Asia, will experience higher-than-average effects in sea level rise than places closer to Antarctica.
The maps and total population numbers are adjusted to reflect this dynamic, using data from Jerry Mitrovica, professor of geophysics at Harvard. They do not account for similar dynamics from Greenland’s ice loss, or for any other influences that may cause an uneven distribution of sea level rise.
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