The exact effects of climate change haven’t been determined yet, but we know that some areas will be affected far more than others.

ValuePenguin conducted a study on the parts of the US where homeowners are more at risk from climate change. Projected rising sea levels and current weather events are already leading to higher insurance rates for many homeowners. The ultimate finding was that rising sea levels, warmer temperatures, and heat waves will have serious implications for homeowners. Homeowners are already facing the brunt of increasingly frequent and intense natural disasters such as hurricanes and wildfires.

The future holds much more dire news for homeowners, especially in coastal areas. Some states are at far greater risk than others for the effects of climate change. The study, using data from the Union of Concerned Scientists, found that the states of Louisiana, New Jersey, and Delaware hold the biggest risks for homeowners. Louisiana has 26,336 homes which are at risk, constituting 1.3% of all housing units in the state. The main financial effect that you can expect to see is increased insurance rates. Insurance companies will certainly face higher losses in the case of a natural disaster, and they are equally certain to pass this cost down to the consumer. The 2018 wildfires in California cost the state’s economy about $13 billion, and an insured loss of $11 billion. It’s no surprise that 2018 also saw wildfire insurance premiums in California rise 6.9%.