Sponsors (11)
The resolution highlights soaring disaster-insurance costs and systemic risks—information that could prompt targeted policy relief and borrower protections—but it also underscores that rising premiums are already making homeownership unaffordable for many, especially in high-risk states, risking market disruption and greater fiscal exposure.
Homeowners and borrowers are made more aware that rising disaster losses and insurance premiums are threatening housing affordability, increasing pressure for policy responses to curb costs.
Homeowners in very high-premium states and state governments are identified (e.g., Florida averages >$14,000), creating data that could spur targeted federal or state relief for areas with extreme insurance burdens.
Borrowers and financial institutions gain documented evidence that most lenders require insurance, clarifying a systemic risk to mortgage approval and strengthening the case for borrower protections or underwriting reforms.
Homeowners nationwide face higher housing costs because insurance premiums now consume a larger share of mortgage payments (often >20%), worsening overall housing affordability.
Prospective buyers in high-risk states (e.g., Florida, Louisiana, Oklahoma) may be effectively priced out of homeownership because annual premiums reach several thousand dollars, concentrating affordability loss geographically.
Rising premiums could drive mortgage defaults or cause lenders to reduce lending in affected areas if insurance requirements remain, harming local housing markets and community stability.
Based on analysis of 2 sections of legislative text.
Records findings that insured disaster losses and homeowner insurance premiums have risen sharply and are increasing borrowing costs and mortgage payment shares.
Official title: Recognizing the strong link between climate change and skyrocketing insurance premiums.
Introduced December 17, 2025 by Sheldon Whitehouse · Last progress December 17, 2025
Declares and records findings that insured losses from natural disasters and homeowner insurance premiums in the U.S. have grown sharply in recent decades, driving much higher costs for homeowners and increasing the share of mortgage payments devoted to insurance. It highlights state-level average premium spikes (with particularly high averages in Florida, Louisiana, Oklahoma, Texas, Colorado, Alabama, Mississippi, and Nebraska) and notes that most lenders require borrowers to maintain insurance to obtain a mortgage. The measure does not create new programs or change law; it formally draws attention to rising insured losses and insurance costs as a national concern and provides context for policymakers and the public about the financial burden on homeowners and borrowers.