Moving to a climate smart company will keep your premium dollars from making the climate crisis worse – and you could save significant money. Often local and regional insurance costs less because they don’t have huge advertising budgets.
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Dear Green American,
During this past week, the United States saw FOUR once-in-1000-year floods.
In Central Texas, heavy rain from the remnants of Tropical Storm Barry caused catastrophic flash floods that have killed at least 120 people, including 27 girls at a summer camp.
In North Carolina, Tropical Storm Chantal poured 12 inches of rain in just one day, ravaging homes and businesses in Chapel Hill.
In New Mexico, flash floods killed at least three people in the mountain village of Ruidoso.
In Chicago, 5 inches of rain in 90 minutes flooded swaths of the west side near Garfield Park.
The climate crisis is here, with all its devastating, deadly, and expensive results.
In the aftermath of these storms, tens of thousands of people will be filing claims with their home, renters, and auto insurance companies.
TAKE THE PLEDGE: SWITCH TO CLIMATE SMART INSURANCE ([link removed])
But with the climate crisis comes an insurance crisis. The nation’s largest insurance companies have increasingly refused to renew policies in climate vulnerable areas and raised rates for everyone else.
Nonrenewal rates reached as high as 21% in 2022, according to Mapping the Home Insurance Crisis ([link removed]).
Premiums have risen 24% over the past three years, according to Consumer Federation of America ([link removed]).
State Farm got a rate increase of 17% in California in May, according to Center for Climate Integrity ([link removed]). Meanwhile, they still have not paid many claims to Eaton Fire Survivors ([link removed]).
Incredibly, even as the nation’s largest insurance companies drop policy holders, raise rates, and dodge paying claims, they are investing billions of dollars ([link removed]) in the very fossil fuels at the root of the climate crisis.
TAKE THE PLEDGE: SWITCH TO CLIMATE SMART INSURANCE ([link removed])
State Farm has over $20 billion invested in fossil fuel companies, according to Investing in Climate Chaos ([link removed]). USAA, AIG, Nationwide, Allstate, Travelers, Liberty Mutual, and The Hartford all have billions in fossil fuels. By far the largest investor is Berkshire Hathaway, parent of Geico and General insurance, with over $95 billion in fossil fuels.
These companies may be household names, but you don’t have to do business with them.
Across the country, local and regional insurance companies have been serving their communities for decades while investing little to nothing in fossil fuels.
Find better insurance in Green America’s Climate Smart Insurance Directory ([link removed]).
If you are with a property insurance company that invests in fossil fuels, take the pledge today to move your home, renters, and auto insurance to a climate smart company instead.
Moving to a climate smart company will keep your premium dollars from making the climate crisis worse – and you could save significant money. Often local and regional insurance costs less because they don’t have huge advertising budgets.
Don’t delay. Take the pledge today.
TAKE THE PLEDGE ([link removed])
..................
Cathy Cowan Becker
Responsible Finance Campaign Director
Green America
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