December 17, 2025
Mr. Whitehouse (for himself, Mr. Merkley, Mr. Schatz, Mr. Markey, Mr. Van Hollen, Ms. Duckworth, Ms. Smith, Mr. Padilla, Mr. Welch, and Ms. Blunt Rochester) submitted the following resolution; which was referred to the Committee on Banking, Housing, and Urban Affairs
Recognizing the strong link between climate change and skyrocketing insurance premiums.
Whereas, at the time of the introduction of this resolution, insured losses from natural disasters in the United States exceed $100,000,000,000 annually, up from $8,400,000,000 in 2000, an increase of 1000 percent;
Whereas, from 2013 to 2022, insurance costs more than doubled, and by 2022, these costs accounted for more than 20 percent of mortgage payments;
Whereas insurance premiums have increased 40 percent faster than inflation;
Whereas premiums are projected to increase another 8 percent in 2025, reaching a national average of more than $3,500 annually;
Whereas annual premiums in 2024 averaged more than $14,000 in Florida, almost $11,000 in Louisiana, almost $8,000 in Oklahoma, $6,000 in Texas and Colorado, and around $5,000 in Alabama, Mississippi, and Nebraska; and
Whereas most lenders will not approve a mortgage unless the borrower also purchases insurance: Now, therefore, be it
That the Senate recognizes that climate change and the increased risk in frequency and intensity of natural disasters are driving up insurance costs for home owners in the United States, and that a failure to address climate change will make housing even more unaffordable.