Climate disasters could drive insurance hikes in San Antonio
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Texans could see their home insurance rates increase — or lose coverage entirely — as natural disasters intensify.
Why it matters: Rates could start to become unaffordable as climate change fuels an increase in destructive storms.
- And if insurers decide to pull back altogether, states will need to step in to take on the risk — which can cost individuals more and offer less coverage.
Zoom in: In the San Antonio-New Braunfels area, nearly 88% of properties are at risk of insurance rate hikes or non-renewal due to wildfire, wind or flooding — with 86.6% specifically at risk from wind, according to First Street Foundation.
Threat level: Bexar County has a "relatively high" risk index — which FEMA uses to measure a county's risk of natural disasters, scoring it based on exposure, vulnerability and ability to recover.
- With a score of 98.3 it ranks in the top 2% of U.S. counties and top 4% in Texas for disaster risk.
- Tornados, hail, river flooding, lightning and heat waves are the highest hazard types.
Zoom out: The U.S. saw 28 weather and climate disasters costing at least $1 billion in 2023 — the highest on record. Damages totaled $93 billion.
- 2024 disaster data is not yet out, though it's expected to follow the trend.
What to watch: Insurers are changing how they factor climate and extreme weather risks into the premiums they charge for coverage, while some are suspending coverage, Axios' Brianna Crane reports.
- That's pushing many homeowners to opt for public "insurer of last resort" plans — but often at higher rates.

