Nearly half of Californians concerned about climate driving up property insurance

Almost half of Californians are very concerned that home insurance will become more expensive due to risks from climate change.

A majority of the state's likely voters say they would vote yes on a $10 billion bond measure to pay for flood protection and climate resiliency projects. Nearly two in three Californians say they are not currently prepared for a disaster. These are among the key findings from a statewide survey released today by the Public Policy Institute of California.

Forty-seven percent of Californians (and 54% of likely voters) are very concerned that home insurance will become more expensive due to climate-change risks; another 34 percent of Californians (and 32% of likely voters) are somewhat concerned. A majority of homeowners (56%) say they are very concerned about higher home insurance costs due to climate-change risks, while fewer than four in ten renters (37%) say they are very concerned. Across regions, more than four in ten residents are very concerned about climate-related increases in home insurance costs (51% Inland Empire, 49% Los Angeles, 45% Orange/San Diego, 44% Central Valley, 44% San Francisco Bay Area).

"Forty-seven percent of Californians say they are very concerned that home insurance will become more expensive due to climate-change risks," said Mark Baldassare, PPIC Statewide Survey director and Miller Chair in Public Policy. "Fifty-six percent of homeowners and 37 percent of renters hold this view."

The new PPIC Statewide Survey also finds:

* About six in ten likely voters favor the state environment bond. California's November ballot includes a $10 billion bond measure (Proposition 4) to support a range of climate resiliency projects. (Note: The title and label for Prop 4 were not yet available when the survey was conducted). A majority of likely voters (59%) say they would vote yes on a $10 billion bond to support flood protection and climate resiliency projects; 40 percent would vote no, and 2 percent don't know. Views vary across party lines, with Democrats (78%) far more likely than independents (55%) and Republicans (25%) to say they would vote yes.

"Majorities of likely voters across the state's major regions say they would vote yes on a $10 billion state bond to pay for flood protection and climate resiliency projects," Baldassare said.

* Nearly two in three Californians are not currently prepared for a disaster. Asked about their readiness for a disaster, 65 percent of Californians say they are not currently prepared. This includes 20 percent who do not intend to get prepared in the next year, 22 percent who intend to start preparing in the next year, and 23 percent who intend to get prepared in the next six months.

About one in four Californians (24%) have considered moving to a different home to avoid impacts of global warming such as sea-level rise, flooding, heat waves, or wildfires. This includes 17 percent of those who own their homes and 31 percent of those who rent. The share saying they have considered moving to avoid the impacts of global warming varies across regions (28% Central Valley, 25% Los Angeles, 23% Inland Empire, 23% San Francisco Bay Area, 16% Orange/San Diego).

"Sixty-five percent of Californians say they have not prepared for disasters," Baldassare said. "And 24 percent have considered moving to a different home to avoid the impacts of global warming."

* Climate change, forest fires and wildfires, and water supply are the top environmental issues for Californians. Asked what they think is the most important environmental issue facing California today, 17 percent of California adults (and 19% of likely voters) say climate change, global warming, or greenhouse gases. Fifteen percent of Californians (and 15% of likely voters) say the loss of forests, forest fires, or wildfires, while 14 percent (and 17% of likely voters) say water supply, drought, or reservoirs.

"Californians name climate change and global warming, forest fires and wildfires, and water supply and drought as the most important environmental issues facing the state today," Baldassare said.

* Two in three favor the state-mandated shift to electricity from renewable sources by 2045, though less than half are willing to pay more. Current California law requires all the state's electricity to come from renewable sources by 2045. Two-thirds of Californians (66%) and likely voters (67%) favor this policy, though support varies widely across party lines (85% Democrats, 59% independents, 33% Republicans). There is also notable variation across regions in support of this shift (72% Los Angeles, 71% San Francisco Bay Area, 66% Orange/San Diego, 63% Inland Empire, 53% Central Valley).

Asked if they would be willing to pay more for electricity generated by renewable sources, less than half of adults (44%) and likely voters (45%) say they would. Across regions, residents of the San Francisco Bay Area (54%) are the most likely to say that they would be willing to pay more (47% Los Angeles, 46% Orange/San Diego, 36% Central Valley, 34% Inland Empire).

"Sixty-six percent favor the state law requiring that all electricity come from renewable energy by 2045, while 44 percent are willing to pay more for electricity from renewable sources," Baldassare said.

More than eight in ten adults (81%) and likely voters (85%) favor expanding the rules and boundaries of national marine sanctuaries and California Marine Protected Areas off the California coast. This includes overwhelming majorities in the state's inland (75%) and coastal (84%) areas. Seventy-eight percent of adults (and 81% of likely voters) favor allowing wind power and wave energy projects off the California coast, including overwhelming majorities in the state's inland (75%) and coastal (79%) areas.

Two-thirds of adults (67%) and likely voters (68%) oppose allowing more oil drilling off the California coast. This includes a solid majority of Californians in inland (61%) and coastal (70%) areas.

"Overwhelming majorities favor the expansion of marine protected areas and allowing wind power and wave energy projects, while 67 percent are opposed to more oil drilling off the California coast," Baldassare said.

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About the Survey

The Californians and the Environment survey is supported with funding from the Arjay R. and Frances F. Miller Foundation, the David and Lucile Packard Foundation, and the Windy Hill Fund.

The findings are based on responses from 1,648 California adult residents. The sampling error is +-3.2 percent at the 95 percent confidence level for the total unweighted sample and +-3.7 percent for the 1,261 likely voters. Interviewing took place from June 24-July 2, 2024. For more information, please see the methodology section in the full survey report.

Mark Baldassare is statewide survey director at PPIC, where he holds the Arjay and Frances Fearing Miller Chair in Public Policy. He is founder of the PPIC Statewide Survey, which he has directed since 1998.

The Public Policy Institute of California is dedicated to informing and improving public policy in California through independent, objective, nonpartisan research. We are a public charity. We do not take or support positions on any ballot measure or on any local, state, or federal legislation, nor do we endorse, support, or oppose any political parties or candidates for public office. Research publications reflect the views of the authors and do not necessarily reflect the views of our funders or of the staff, officers, advisory councils, or board of directors of the Public Policy Institute of California.

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REPORT: https://www.ppic.org/?show-pdf=true&docraptor=true&url=https%3A%2F%2Fwww.ppic.org%2Fpublication%2Fppic-statewide-survey-californians-and-the-environment-july-2024%2F

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Original text here: https://www.ppic.org/press-release/nearly-half-of-californians-are-very-concerned-about-higher-home-insurance-costs-due-to-climate-related-risks/