Let’s get to the bottom of home insurance rate hikes!

Demand data that will hold insurance industry accountable

 

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Home insurance rates are skyrocketing with no end in sight, while federal officials sit on critical information that could help us develop solutions that protect consumers. Climate-driven extreme weather events, inflation, and material costs are all part of what’s driving rates higher, but a missing piece is what the insurance industry is doing to keep costs in check.

Help us pressure the Federal Insurance Office to release ZIP Code-level data on property insurance from the over 330 insurers representing the majority of the U.S. homeowners and renters. We need to shine a light on what insurance companies are doing, and get to the bottom of the home insurance crisis.

PETITION TO THE FEDERAL INSURANCE OFFICE

We urge you to immediately make data on insurance premiums and claims publicly available, and to publish an initial analysis of data on property insurance. Consumers are facing historically high costs to insure their homes, and many are losing access to home insurance altogether. In particular, low-income communities and communities of color face disproportionate exposure to climate-driven wildfires and flooding, and are particularly at risk from insurance hikes and cancellations. 

In order to address this challenge, the public needs access to the agreed-upon ZIP Code-level data and analysis on property insurance from the over 330 insurers representing the majority of the U.S. homeowners insurance market. Please immediately release this information so that consumers have a better understanding of the factors driving the increase in home insurance rates.