Hurricane Francine reminded us how prone our state is to severe weather from hurricanes and tornadoes. Not that we needed a reminder.

Tornado activity in Mississippi nearly doubled over the past six years as did estimated damages compared to the prior 6-year period. The number increased from 59 to 106 and estimated damages increased from $292.6 million to $464.9 million, according to the National Oceanic and Atmospheric Administration (2024 data through May 31).

Also increasing dramatically were insurance premiums for coverage of wind damage.

“Because of hurricane and wind threats, Mississippi is among the top ten most expensive states for homeowners’ insurance with an average premium greater than $1,500 per year,” said Mississippi Insurance Commissioner Mike Chaney.

“The largest increases are occurring above the lower six counties,” Chaney told the Magnolia Tribune. “That area includes the areas north of Hattiesburg and across central Mississippi through Jackson and up to Madison over to Meridian, among other areas.”

An analysis by the New York Times explains: “In 2023, insurers lost money on homeowners coverage in 18 states (Mississippi was one of those states). That’s up from 12 states five years ago and eight states in 2013. The result is that insurance companies are raising premiums by as much as 50% or more, cutting back on coverage or leaving entire states altogether.”

This issue came to my attention last month when our condominium association in Jackson received notice its insurance carrier was canceling wind and hail coverage. The Mississippi Insurance Department informed me that a number of Mississippi carriers are pulling out of the wind coverage market, especially for residential properties. As Commissioner Chaney indicated above, this area has been designated a high risk zone.

Finding even high cost coverage has become a problem, so insurance brokers are having to look outside the standard market for coverage. And when they can find it, the coverage usually comes with high deductibles.

Compounding the problem has been growing reluctance among reinsurance companies: “As disasters worsen, reinsurers have become more reluctant to underwrite insurance in parts of the United States,” reported the Times.“’It’s becoming an untenable situation,’” said Sridhar Manyem, senior director of industry research at AM Best, a company that rates the financial strength of insurers.”

This year Commissioner Chaney was able to get the legislature to provide limited funding for wind and hurricane mitigation which can notably reduce premiums. Homeowners in the state’s bottom six counties can apply for grants up to $10,000 to fortify their homes.

With insurers now designating other zones as high risk, a broader program should be considered.

Crawford is a syndicated columnist from Jackson.