Many Americans think they’re insulated from climate change. Their finances indicate otherwise

4 comments

1. Many Americans think they’re insulated from the effects of global warming. But climate change is [already having](https://www.cnbc.com/2023/11/27/why-climate-change-may-cost-you-big-bucks-and-what-to-do-about-it.html) negative and broad impacts on household finances, according to experts.

   Just to give a few examples: Insurers are [raising premiums](https://www.cnbc.com/2024/07/02/florida-california-insurance-crisis-spreading-your-state-next.html) for homeowners in many states across the country, pointing to mounting losses from natural disasters as a factor. Extreme weather and flooding [raise prices](https://www.cnbc.com/2024/06/18/disease-drought-and-fruit-switching-orange-juice-industry-in-crisis.html) for everyone at the grocery store. Wildfire smoke and heat waves like the one currently [blanketing large swaths ](https://www.nbcnews.com/news/weather/heat-related-deaths-continue-rise-record-breaking-hot-weather-persists-rcna161307)of the U.S. lower job earnings [for many workers](https://www.cnbc.com/2023/07/05/as-planet-heats-calls-to-protect-workers-grow-louder.html).

   That’s not to mention the perhaps more obvious costs like [rebuilding or relocating](https://www.cnbc.com/2024/04/26/miami-is-ground-zero-for-climate-risk-people-move-there-build-there-anyway.html) after a hurricane, flood or wildfire — disasters that are growing in frequency and intensity.

   An American born in 2024 [can expect to pay](https://www.cnbc.com/2024/04/26/climate-change-may-cost-americans-born-in-2024-nearly-500000-in-lifetime.html) about $500,000 during their lifetime as a result of climate change’s financial impacts, according to a recent study by ICF, a consulting firm.

   Read more: [https://www.cnbc.com/2024/07/16/how-climate-change-may-impact-americans-wallets.html](https://www.cnbc.com/2024/07/16/how-climate-change-may-impact-americans-wallets.html)

2. We are all on this planet, so we all feel the effects of climate change. Yes, some will feel severe effects sooner than others, but we will all feel the effects and they are getting worse every year.

3. They’re out of their mind. One day they’re going to stress their power grid during a heat wave and there will be a mass death.

4. When the insurance companies are withdrawing from your area, you can bet your life that climate disasters are coming to your area.