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Opinion – An ‘Obamacare’ for homeowners insurance could protect against climate change
In the wake of the devastation caused by Hurricanes Milton and Helene, it has become painfully clear that the financial security of millions of Americans is under threat, not just from extreme weather, but from the crumbling homeowners insurance system.
These storms are the latest in a series of climate-driven disasters that have stretched insurance markets to the breaking point. As wildfires sweep through the West, hurricanes batter the Gulf and floods inundate inland areas, homeowners insurance markets are facing unprecedented disruption — and it’s only getting worse.
None of these are due to anthropogenic climate change. Weather happens, things change over time
This isn’t a crisis that will fix itself. If the U.S. doesn’t take bold steps to overhaul homeowners insurance markets, we risk a catastrophic fallout — one that could crash real estate markets, destabilize local economies and derail efforts to build resilience to climate change.
What’s happening in homeowners insurance markets today echoes the dysfunction we saw in health insurance markets before the passage of the Affordable Care Act, commonly known as Obamacare. Before Obamacare, millions of Americans faced rising costs, coverage denials for preexisting conditions and confusing, inadequate health plans. The law tackled these issues head-on with a cooperative federalism approach, leveraging both state and federal expertise to create affordable, accessible health coverage.
What could possibly go wrong with the federal government essentially taking over the home insurance market
Obamacare is everything they said it was not: higher premium cost, less coverage, higher out-of-pocket cost. https://t.co/cd8cBg9jqB pic.twitter.com/KJtMxKF02t
— VIOLET (@zappviolet) December 15, 2024
Of course, just like with Obamacare, the idea IS to put the government in charge.
Read: Who’s Up For An “Obamacare” For Homeowners Insurance Due To Global Boiling? »


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