Climate change is not a distant threat, but a present danger that is already wreaking havoc on our lives and homes. From devastating floods to scorching heat waves to raging wildfires, homeowners need to prepare for the consequences of our warming planet. Preparing for these challenges requires investments at both the household and government levels.
Homeowners can also protect themselves by securing insurance against natural disasters. Homebuyers and homeowners should anticipate that the cost of insurance will increase as disasters become more common. Wildfire risk in California and flood and storm risk in Florida has already caused. As this trend continues, some homes will see skyrocketing insurance costs, and some homes will become outright uninsurable.
In addition to rising insurance costs, homeowners should prepare for changes in their utility bills. In places with high drought risk, water bills will rise. In places with high heat risk, homeowners may need to spend more on electricity to power their air conditioning. Homeowners association fees may also increase as the cost of maintaining and protecting common areas rises.Individual actions can only go so far in mitigating the risks of climate change.
analyze climate resiliency and provide detailed projections about the preparedness of communities for disasters like floods, fires and heat waves.