News Summary
A roundtable in Raleigh, North Carolina, focused on the growing impact of climate change on property insurance costs. Hosted by U.S. Senator Sheldon Whitehouse, participants discussed rising premiums and cancellations, emphasizing the need for cooperative policy solutions to mitigate these changes affecting homeowners and communities. The event highlighted alarming statistics, such as North Carolina ranking third in the U.S. for cancellations. Experts warned of a significant decline in housing values due to climate risks, calling for urgent reforms in insurance policies and enhanced resilience efforts.
Raleigh, North Carolina — U.S. Senators and Local Leaders Discuss Climate Change and Its Impact on Insurance Costs
On October 14, 2025, Raleigh hosted a significant roundtable focused on the increasing effects of climate change and how these changes are impacting property insurance costs across North Carolina. The event, held at the Walnut Creek Wetlands Center, gathered policymakers, community members, environmental advocates, and insurance experts to discuss urgent environmental challenges and their economic consequences.
Key Participants and Background
The roundtable was led by U.S. Senator Sheldon Whitehouse, a Democrat from Rhode Island, who is serving his fourth term in the Senate and has been the ranking member of the Committee on Environment and Public Works since January 2025. Senator Whitehouse highlighted similarities in environmental issues facing Rhode Island and North Carolina, including increased rainfall, rising sea levels, coastal storms, and erosion. He emphasized the need for federal and state cooperation to address these problems effectively.
Joining the senator was U.S. Representative Deborah Ross, representing North Carolina’s 2nd congressional district, along with members of the North Carolina League of Conservation Voters and Partners for Environmental Justice. The event also included local experts, community leaders, and residents who shared personal experiences and concerns regarding environmental and economic impacts from climate-related events.
Rising Insurance Costs and Climate Risks
The discussion centered heavily on the rising costs of property insurance, which are increasingly driven by climate change. Experts at the roundtable explained that insurers now view many properties as too risky, leading to higher premiums and insurance cancellations in high-risk areas.
A poll referenced during the event indicated that 92% of Texas voters are worried about the rising costs of home insurance due to severe weather. While Texas was specifically noted, the trend reflects nationwide concerns regarding insurance affordability and availability amid worsening climate conditions.
In North Carolina, more than one in ten homeowners in some coastal counties lost their insurance coverage in 2023. The North Carolina League of Conservation Voters noted that the state now ranks third in the U.S. for property insurance cancellations, a record driven by increasingly frequent and severe storms. The rising risks are leading insurers to withdraw from some markets or significantly raise rates, impacting homeowners financially.
Impact on Families and Communities
Community members shared stories of losing homes and businesses due to flooding and storms, emphasizing the real-life toll of climate change. Concerns about the diminishing resources available for disaster preparedness and response were also raised, including potential cuts to critical agencies such as the National Weather Service, FEMA, and the National Flood Insurance Program.
Whitehouse criticized the current structure of the National Flood Insurance Program, advocating for reforms such as improved mapping and assistance options for risk assessment and relocation efforts. These changes are viewed as essential to better protect residents from the mounting impacts of climate change.
Economic and Housing Market Trends
Experts warned that climate change is reshaping the housing market in North Carolina. Predictions suggest that over two-thirds of counties could see declines in home values over the next few decades due to increased flood risks and insurability issues. A nationwide estimate projects nearly $1.5 trillion in property value losses by 2055, driven primarily by rising insurance costs and climate risks.
The North Carolina Rate Bureau has requested a 42.2% average increase in homeowners’ insurance rates statewide. Some areas could face proposed rate hikes of up to 100%, which could significantly affect affordability. Insurers are increasingly pulling out of high-risk regions or raising premiums sharply to account for escalating climate dangers.
Mitigation Efforts and Policy Responses
To combat these challenges, programs exist to help homeowners fund upgrades, such as fortified roofs, which can lessen damage from storms. Insurance Commissioner Mike Causey has called for increased investment in resilience initiatives and stronger building regulations to help communities adapt to changing environmental conditions.
Additionally, federal funding cuts have impacted storm prediction capabilities, raising safety concerns. Experts stress that these issues highlight the importance of better data and risk assessment tools to enable homeowners to make informed real estate decisions. Some real estate platforms are now listing flood and wildfire risks alongside property listings to improve transparency for buyers.
Nationwide Outlook
The ongoing insurance crisis affects homeowners across the United States, with increased premiums and reduced options making property ownership more difficult in high-risk areas. Though specific impacts vary by location, climate change broadly influences the entire housing market and insurance landscape.
Overall, the roundtable underscored the urgent need for comprehensive policy responses, including restructuring federal flood insurance programs, strengthening resilience efforts, and enhancing climate risk data access for homeowners nationwide.
Frequently Asked Questions
- Where did the roundtable take place? The roundtable took place in Raleigh, North Carolina, at the Walnut Creek Wetlands Center.
- What are the main issues discussed? Climate change impacts—including increased rainfall, sea level rise, coastal storms, erosion—and rising insurance costs affecting families and communities.
- What is happening with property insurance in North Carolina? North Carolina now has the third-highest rate of property insurance cancellations in the U.S., with more than one in ten homeowners losing coverage in some coastal counties in 2023.
- How are insurance costs changing? The North Carolina Rate Bureau has requested a 42.2% average rate increase statewide, with some areas facing proposed increases up to 100%.
- What are the potential economic impacts? Experts project nearly $1.5 trillion in property value loss nationwide by 2055 due to climate-related risks and rising insurance costs.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- NC Newsline: U.S. Sen. Whitehouse Links Rising Insurance Costs to Climate Change
- WRAL: North Carolina Climate Risk Study on Home Values and Insurance
- News Observer: Climate Change and Its Impact on Real Estate
- Business Insider: Climate Change and Rising Homeowners Insurance Costs
- Wikipedia: Climate Change
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
