But the risk of hurricanes in Florida is intensifying since the climate change caused by humans heats the atmosphere and raises the surface temperatures of the sea in the Gulf of Mexico. The hottest conditions are catching moisture and feeding the intensification of hurricanes, creating more humid and powerful hurricanes that leave Florida more and more vulnerable to the damage of the storms. During Hurricane Helene, the humidity trapped in the heating atmosphere increased extreme rain by 10%, which raised rain totals up to 26.95 inches in parts of Florida.
Jeremy Porter, an expert in climatic risks of the First Street Foundation, says that the increase in insurance costs indicates the deep impacts of climate change in western Florida, since communities such as Fort Myers Beach deal with recurrent damage and expensive recovery.
“In recent decades, we have not updated with climate risk and we quantify it properly in our risk modeling. Now, we are playing and is increasing insurance rates very quickly, and people feel that in the budgets of their homes,” Porter said.
With few home insurance options, more and more Floridanos have begun to buy Citizens insurance Insurance Property Corp., Florida’s non -profit insurer, and Porter says that this rapid movement has also increased insurance costs.
By 2055, Porter says that housing insurance premiums could increase by 213% in the metropolitan area of Tampa due to the risk of hurricanes. Climate risks are also interrupting insurance markets in other parts of the country. In Sacramento, California, residents can face an increase of 137% due to the increase in the danger of forest fires, for example.
Porter said that the decrease in housing prices in Florida could also affect rates and housing insurance availability. When the values of the properties fall into places that are Vulnerable to hurricanes or other extreme climate, insurers can interpret that decrease as a sign of physical risk warning or growing market, which leads to greater scrutiny during subscription and possible peaks on premiums.
According to Zillow’s data, the values of the homes in Fort Myers Beach have dropped around $ 200,000 of their prices prior to IE, and about 86% of sales during the last year arrived under a list price, a general signal that sellers are having difficulty downloading their properties.
At its peak before Hurricane Ian, the average value of the house on the island of Sanibel, a popular place in Lee County for vacationers on the beach, was almost $ 1.3 million. Today, that value is $ 868,000, with 93% of all houses sold under the list price, according to Zillow.
Joanne Klempner, who has lived part -time at Fort Myers Beach since 2016, says that selling her home is not a financially viable option after spending so much on reconstruction after Hurricán Ian. With few more options than staying in Fort Myers Beach, Klempner said he is concerned how climate change will affect the future of his community.
“At this point, we are in the long term because we have to be. I think that if people want to continue investing in Fort Myers Beach it is the most important question,” Klempner said. “When you have no hurricane for 30 years, the risk seems to live in paradise. When you have three bad hurricanes within 18 months, it becomes questionable.”
Jacki Liszak, president and CEO of the Fort Myers Beach Chamber of Commerce, says that Fort Myers Beach is still a great place to live and visit, and that the community is investing in resistant architecture and building houses well above the flood line.
“The houses must be built strong and highly built,” said Liszak. “I think that will help greatly. People were already beginning to come, and I think they will continue to arrive. People love this lifestyle. It is a beautiful part of the world.”
