Their renter’s insurance didn’t cover natural disasters — only flooding from building malfunctions, such as burst pipes — and the FEMA flood relief they received came to just $250.

In Hawaii, where insured property losses exceed $3 billion dollars, homeowners face rising insurance premiums as a result of climate disasters. Californians are familiar with this pain: State Farm and Allstate have already stopped offering homeowner policies in the state due to a combination of government-imposed rate caps, expensive reinsurance,... See more