The Hidden Costs of Moving Away from Climate-Risk Areas

Ever thought about ditching your flood-prone hometown for somewhere safer? Join the club. Millions of Americans are having that same conversation as climate disasters keep getting worse.

Research shows over 55 million Americans will pack up and relocate by 2055 to escape climate threats. That's roughly 5.2 million people moving this year alone. Sounds like a smart plan until folks discover the hidden costs that nobody talks about.

Insurance Gets Complicated Fast

Homeowners fleeing risky areas often find their insurance policies become useless in new locations. Trading flood zones for wildfire country? That's swapping one set of risks for another, each needing different coverage.

Insurance companies are getting picky about coverage areas, and premiums are climbing everywhere. Some people end up paying more for insurance in their "safer" spot than they ever did in the risky place. Companies now factor climate risk into credit scores too, meaning certain locations could mess with mortgage rates.