Eight States Where Home Insurance Costs Could Surge With Super El Niño
Summary
A strong El Niño weather pattern could cause more flooding, heavy rain, and storms in parts of the U.S. This may lead to higher home insurance costs, especially in states prone to flood damage, since insurance companies expect more claims and risks.Key Facts
- El Niño happens when warm Pacific Ocean water changes global weather patterns.
- A "super" El Niño can cause more extreme weather like flooding and storms in the U.S.
- Home insurance rates have been rising due to more frequent and costly disasters.
- Flood damage is usually not covered by standard home insurance and requires separate flood insurance.
- Flood insurance is offered mainly through a federal program (NFIP) and private insurers.
- Average flood insurance costs about $1,100 per year but vary widely by risk area.
- States most likely affected by flooding and higher insurance costs include California, Arizona, New Mexico, Texas, Louisiana, Mississippi, Alabama, and Florida.
- Flood risk in the Southwest is higher in summer due to hurricanes; in the Southeast, it’s higher in late fall and winter during El Niño.
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