Recent data reveals the increasing number of Americans without homeowners insurance

Hurricane Francine left thousands of homeowners in Louisiana’s Terrebonne Parish without power, with many lacking homeowners insurance. Nationwide, 13.4% of homeowners are uninsured, with the highest rates in the South. Under-insurance rates are also higher in majority-minority counties, with 22% of Native American and Native Alaskan homeowners and 14% of Black homeowners lacking insurance. The Census Bureau data from 2023 shows that 20.8% of homeowners without mortgages and 8.5% of mortgage-holders lack meaningful homeowners insurance. The rising costs of homeowners insurance, driven by more catastrophic events and a move to high-risk locations, are making it harder for homeowners to afford coverage. Without insurance, recovering from natural disasters like hurricanes and wildfires can be nearly impossible. Lack of insurance can also impact the local economy, as insurance claim payments often support local businesses. Unequal recoveries from disasters can deepen existing divides and intensify the housing cost crisis, as spared homes become more valuable. Overall, the lack of homeowners insurance can have far-reaching consequences for both individuals and communities, highlighting the need for affordable and comprehensive coverage to protect against the financial impacts of natural disasters.

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