In the recent presidential debate, Vice President Kamala Harris drew attention to a pressing issue plaguing homeowners across the country - the loss of insurance coverage due to climate change. Harris emphasized that inaction on global warming has led to soaring insurance costs and, in some cases, complete denial of coverage as extreme weather events such as storms and wildfires become increasingly severe.

Highlighting the harsh reality of climate change, Harris stated, "You ask anyone who lives in a state that has experienced these extreme weather occurrences who now is either being denied home insurance or it's being jacked up; you ask anybody who has been the victim of what that means in terms of losing their home, having nowhere to go."

The Harris campaign has shown a clear focus on this issue. Prior to the debate, Harris' running mate, Minnesota Gov. Tim Walz, visited Nevada near the Davis Fire, where he discussed rising insurance costs with first responders. Adam Mayberry, a spokesperson for Truckee Meadows Fire and Rescue, acknowledged the increasing concern, stating, "We're seeing a lot of our residents losing their fire insurance and/or premiums are going up, you know, 1,000%, so [Walz] was very cognizant of that issue."

The impact of this insurance crisis has been particularly concentrated in states like California and Colorado, which face the constant threat of devastating wildfires, as well as coastal states such as Louisiana and Florida, where the monetary damage caused by storms reaches billions of dollars.

According to a recent report by the Federal Reserve, lower- and moderate-income homeowners in the central part of the country are being forced to purchase insurance with reduced coverage as premiums continue to rise. Additionally, some low-income households in areas covering parts of Texas, Louisiana, and New Mexico are even opting to drop insurance altogether.

This reduction in home insurance options comes at a time when the majority of American families have minimal savings, leaving them unable to secure loans for repairing or rebuilding damaged homes. Consequently, the consequences of being unable to obtain adequate home insurance coverage can be profound.

In addition to the threats posed by climate change, insurance markets are also experiencing pressure due to the increasing cost of natural disasters. Rising numbers of individuals are choosing to move to coastal regions vulnerable to hurricanes and rural, forested areas prone to wildfires. As a result, the destruction of homes has become more expensive to rebuild due to inflationary factors.

During the debate, Harris was also questioned about her stance on fracking, the controversial oil and gas drilling technique. While she had previously supported a fracking ban during her presidential run in 2019, she has since changed her position. Harris clarified, "I will not ban fracking," noting the need for diverse energy sources to reduce dependence on foreign oil.

Interestingly, despite the Biden-Harris administration's focus on mitigating climate change, the United States has seen a record level of oil production and exportation. Pennsylvania, the location of the debate and a crucial battleground state, is a significant producer of natural gas. However, the state also boasts a thriving clean energy industry, which serves as a prominent source of employment.

Former President Trump, on the other hand, did not provide any specific plans during the debate to address global warming. Throughout his time in office, Trump consistently questioned the scientific consensus linking rising temperatures to the burning of fossil fuels. The Trump campaign emphasized his intention to boost fossil fuel production during a potential second term.

As the insurance crisis for homeowners intensifies due to climate change, it becomes increasingly apparent that immediate action is required to tackle this urgent issue. The consequences of inadequate and unaffordable coverage serve as a stark reminder of the far-reaching impacts of global warming on everyday Americans.