Oct 10, 2023 - News
Mapped: Des Moines' insurance rate risks
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Just over 5% of properties in the metro could face higher insurance premiums or policy non-renewals due to flooding risks, per estimates from climate data nonprofit First Street Foundation.
State of play: Insurers are changing how they factor climate and extreme weather risks, while some are suspending coverage altogether in places like Florida.
The big picture: Nearly 24 million U.S. properties may face higher premiums because of the risk of potential wind damage — and about 12 million and 4.4 million due to flooding and wildfire risks, respectively, Axios' Brianna Crane and Kavya Beheraj report.
Zoom in: Just over 7% of Iowa's properties are at risk for insurance hikes.
- That's far lower than other states like Florida or Louisiana, where the risks will affect a projected 88% or more of properties.