[Intro]
We regret to inform you
Your policy has been cancelled
(And, there’s nothing you can do)
[Verse 1]
The extreme
Is getting so mean
It’s time to move
(Nothing more to prove)
[Bridge]
We regret to inform you
Your policy has been cancelled
(And, there’s nothing you can do)
[Chorus[
Da! (California)
It’s time to run
Da! (Florida)
Your time is done
[Verse 2]
The extreme scene
Past time to wean
It’s time to runaway
(Past time today)
[Bridge]
We regret to inform you
Your policy has been cancelled
(And, there’s nothing you can do)
[Chorus[
Da! (California)
It’s time to run
Da! (Florida)
Your time is done
[Bridge]
We regret to inform you
Your policy has been cancelled
(And, there’s nothing you can do)
[Chorus[
Da! (California)
It’s time to run
Da! (Florida)
Your time is done
[Outro]
Cancelled
(Damage: substantial)
A SCIENCE NOTE
The impact of climate change on insurance rates and coverage illustrates the growing and unsustainable costs of climate-related disasters. In high-vulnerability areas like coastal properties and states such as Florida, Louisiana, Mississippi, Georgia, Oklahoma, Texas, Arizona, Arkansas, Alabama, New Mexico, Nevada, Colorado, California, and Washington, the convergence of rising insurance premiums, frequent natural disasters, and declining property values creates a compounding crisis. For example, in Florida, Louisiana, and California, taxpayers already subsidize homeowner insurance premiums due to the inability of private insurers to bear the mounting risks alone. In Florida, the state-owned insurer, Citizens Property Insurance Corporation, has become the largest insurer, a testament to the scale of market withdrawal by private companies.
- The Insurance Crisis the FAIR Plan a System Under Strain: California’s insurance industry is facing a growing crisis, rendering it unsustainable and putting the state’s real estate market at significant risk of collapse.
- Climate Change’s Impact on Florida Insurance: For those holding property in Florida, it may indeed be a case of “better late than never” to consider selling or relocating. As climate risks continue to escalate, so too will the financial and personal costs of remaining in high-risk areas.