More than half of Americans invest in protecting their homes from natural disasters

Natural hazards, such as flooding, hurricanes, and wildfires, are becoming more common and severe due to the effects of climate change. In 2021, the United States went through 20 weather and climate disasters, each of them totaled $1 billion in damages. There is just one other year that saw more disasters than 2021 – it is 2020. 

The recent survey from Redfin found that 58 percent of American homeowners have invested money in protecting their homes from climate risks. One-third of survey participants admitted that they spent $5,000 or more to make their homes more resilient to extreme heat and cold, flooding, and hurricanes. 

“Americans are shelling out cash to fortify their homes against natural disasters as they increasingly move to at-risk areas despite intensifying climate change,” Daryl Fairweather, Redfin chief economist, said in the press release. 

Florida often appears on the list of US states most affected by climate change. Recently, this state was hit by Hurricane Ian, one of the deadliest hurricanes in US history. It is no surprise that Florida has the highest share of homeowners, who are spending money on protecting their houses from damages caused by climate change. More than 70 percent of Americans who own a home in this state invest their earnings in climate resilience. 

“Many of the newer homes are still standing after Hurricane Ian, but even those have damage after getting inundated with nine feet or more of water. But a lot of the old houses are gone,” said Isabel Arias-Squires, a Redfin real estate agent. 

American homeowners are more likely to insure their homes against flooding. More than one-third (36 percent) of respondents told Redfin that they have an insurance policy covering flooding. Next on that list are tornadoes, hurricanes, wildfires, and earthquakes. 

Resources:

“2021 U.S. billion-dollar weather and climate disasters in historical context,” by Adam B. Smith (Beyond the Data, 2022)

“Redfin Reports 58% of Homeowners Have Spent Money to Protect Their Homes From Climate Threats: Survey,” (Redfin, 2022) 

“Most climate-resistant states in America, ranked,” written by AJ Dellinger, edited by Michele Petry (Bankrate, 2022)