New National Poll Shows 78% of Voters Are Concerned With Stability of Insurance Market
FOR IMMEDIATE RELEASE
March 25, 2025
Contact: contact@insurancefairnessproject.com
New National Poll Shows 78% of Voters Are Concerned About Rising Home Insurance Prices
Voters place most blame on insurers themselves – and say government is doing too little to protect Americans from rising insurance costs
Today, the newly launched Insurance Fairness Project, in partnership with Data for Progress, released a poll on how Americans perceive the national home insurance crisis. The poll examined voter concerns about rising premium costs; insurers leaving state markets; and more frequent extreme weather disasters, including hurricanes, storms, wildfires, and floods.
The results underscore how Americans are aware of how the home insurance crisis impacts them personally and their desire to see more action taken by lawmakers and regulators to rein in insurance companies. The poll was conducted March 7-8 and surveyed 1,203 U.S. likely voters, representing one of the first measurements of national public opinion about the insurance crisis since the California wildfires in January.
Some top results from the poll:
78% of voters are at least somewhat concerned about rising property insurance prices, with 40% saying they are “very concerned”;
74% say that a breakdown in the property insurance market would affect them personally;
66% are concerned about increasing extreme weather events;
74% have either been personally impacted by extreme weather or know someone else who has;
85% say insurance executives are at least somewhat responsible for rate hikes;
57% of voters disagree that rising insurance costs should be passed to customers;
A majority of voters think the federal government and state governments are doing too little to protect consumers and hold insurance companies accountable.
61% say the federal government is doing too little
52% say their state government is doing too little
Read the polling memo from Data for Progress here.
See toplines and crosstabs here.
More images available here.
The data reflects a stark reality facing the United States. A billion-dollar weather disaster hits every twelve days in the US; forty years ago, it was every 2-3 months. As insurers raise rates and pull out of markets, insurance premiums are becoming unaffordable or impossible to obtain in communities facing wildfires, hail, hurricanes, and other disasters. Between 2023 and 2024, Americans saw premiums rise 23% on average, adding more financial pressure for people struggling with the cost of living. Meanwhile, insurers resist paying what’s owed to policyholders and engage in deceptive, bad-faith practices that hurt consumers.
Given the intricate connections between the housing system and the broader economy, climate change and the insurance crisis are snowballing into systemic risk at or beyond the scale of the 2008 financial meltdown. Damage and destruction due to climate change could erase $1.47 trillion in net property value over the next 30 years. Federal Reserve Chair Jerome Powell warned earlier this year that within 10-15 years, there will be entire regions where Americans can’t secure a mortgage, echoing expert alarm about the safety and soundness of the US financial system threatened by the national insurance crisis.
“A growing insurance crisis is being felt all over the country. This poll shows that it’s truly a kitchen table issue that cuts across states, regions, and political divides,” said Jordan Haedtler, policy advisor to the Insurance Fairness Project. “Without comprehensive solutions, everyday Americans—homeowners, renters, disaster survivors, and small businesses—will keep paying the price for decades of inaction to properly manage climate risk. Housing and insurance are major inflation drivers, and policymakers of all parties— including state legislators and insurance regulators— should be alert to the need to address rising insurance costs.”
“Rising home insurance costs are just one example of how climate change is having a direct impact on voters’ lives and pocketbooks,” said Danielle Deiseroth, executive director of Data for Progress. “Our polling makes clear that insurance companies are receiving the blame for high insurance costs, and voters don’t believe institutions are doing enough to hold these companies accountable. As extreme disaster events become more common, there is a clear demand for companies — not policyholders — to shoulder the cost.”
“We work with disaster survivors across the country and the number one complaint we hear is insurance,” said Sierra Kos, co-founder and executive director of Extreme Weather Survivors. “The rising rates, the reduced coverage, the companies that pull out of entire regions without warning, and the realization that the coverage you’ve been paying for isn’t there for you when you need it most. People we’ve worked with have been brought to tears talking about insurance.”
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The Insurance Fairness Project is an information hub dedicated to offering insights into the home insurance crisis, exploring its drivers and highlighting solutions alongside issue experts and community advocates.
