Houston is one of the cheaper major metro real estate markets in the country. But homeownership there comes with expensive baggage, like high winds, flooding and power outages.

“We’re never going to get to affordability if we don’t get insurers back into California. And the way we do that is by bringing down the risk,” said Ricardo Lara, the California Insurance Commissioner.

The fires in Los Angeles “could make this the costliest insured loss due to wildfires in history globally,” said Karen Collins with the American Property Casualty Insurance Association.

After years of rising premiums, policyholders may see some relief.

Experts warn rising insurance costs could depress property values in risky areas.

More severe weather events means higher rates and more Texans forced into state insurance plans.

As private insurance companies retreat in states hit by climate-fueled disasters, safety net insurance plans are left to fill the gap.

Climate risk and inflation are making insurance harder to find and mortgages harder to afford.

With the risk of wildfire rising, it’s become harder for some homeowners to find coverage.

Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.