When disasters strike, premiums spike.
Housing Insurance in Crisis
- Between 2023 and 2025 State Farm alone received approval for cumulative rate increases totaling 45%, raising average annual premiums by $841.
- More than 1 in 5 California homeowners are uninsured because of canceled policies and/or unaffordable premiums.
- FAIR Plan enrollment is skyrocketing—growing 500% from 2018 to 2025.
- 92% of Californians across party lines think it’s important to reduce home insurance costs and make sure home insurance policies are available. While costs keep climbing, our elected leaders are siding with Big Oil.
Big Oil Knew The Dangers And Chose to Put us at Risk
- Big Oil’s greed has exposed our homes, jobs, and lives to more frequent and destructive wildfires, extreme heat, drought, and floods caused by climate change.
- Documents uncovered in Fall 2024 reveal California’s biggest oil companies learned the climate risks of burning fossil fuels in 1954.
- 66% of voters believe the billion-dollar corporations responsible for the climate crisis should offset climate-driven increases in home insurance costs.
- Hot, dry, and windy conditions that fueled the Los Angeles fires were made 35% more likely due to human-made warming.
- A CalTech study commissioned by Western States Petroleum Association WSPA), then called the Western Oil and Gas Association, concluded: “The possible consequences of a changing concentration of CO2 in the atmosphere with reference to climate may ultimately prove of considerable significance to civilization.”
- WSPA pioneered climate denial to bury the truth with lies and protect trillions of dollars in profits at our expense.
Climate Disasters are Fueling the Affordability Crisis
- President Trump has cut federal disaster response, politicized aid money, and left California hanging with a $34 billion request for disaster aid.
- The loss or unaffordability of coverage makes it harder for buyers and owners to secure and maintain mortgages, which in turn:
- Depresses property values
- Heightens the risk of defaults and foreclosures
- Slows the rate of new development, further exacerbating the state’s critical housing shortage
- 13% of California real estate agents report that they had deals fall through in 2024 after buyers couldn’t secure affordable home insurance policies.
- Landlords are paying more to insure their buildings, and passing those costs on to renters through higher rents–contributing to housing instability, displacement, and eviction.