Shouldering the Burden: The Unequal Impact of Extreme Weather on Women

“It’s burned into my brain, I’ll never forget it,” says Lynn Boudreaux. “The storm hit around midnight, and it was loud. The wind was rattling the windows, it was just so loud. Then it sounded like there was a train nearby. Later, we found out that a little tornado touched down and tore off the second story of the house behind us.”

The day before Hurricane Katrina hit New Orleans, Lynn was a 22-year-old single mom evacuating east to Tallahassee with her 4-year-old son. Then she was suddenly faced with a terrifying decision. Her parents changed their minds and would not be leaving with her. They would ride out the hurricane at home, like they always did.

“I couldn’t leave them,” says Boudreaux. “I turned the car around and we headed back home to wait it out.”

Extreme weather events impact everyone, but not in equal ways. Bankrate’s Extreme Weather Survey found that only 52 percent of female homeowners say they are financially prepared for the costs associated with extreme weather events, compared to 67 percent of male homeowners. In fact, in almost every metric of our survey, men indicated higher levels of financial preparedness than women.

Why? The answer, in part, may lie in the situation Boudreaux and countless other women find themselves in every day. Women disproportionately bear more caregiving responsibilities than men, and this applies to children and caring for older parents. As a result, economic disadvantages from the gender pay gap, like the “motherhood penalty,” can reduce their earning potential and ability to build a sufficient emergency savings account. Balancing limited finances and shouldering the bulk of caregiving duties, women often face heightened risk and vulnerability compared to men when evacuating to safety.

The gender pay gap leaves women financially vulnerable to extreme weather

Physically and financially protecting your home from extreme weather damage can take up a significant portion of your income, and the gender pay gap puts women at a disadvantage. According to 2023 Census Bureau data, women with full-time employment earn 83 cents for every dollar men earn. “Pay gaps are even wider for women of color,” says Alex Gailey, Bankrate’s principal data reporter, “with Black women earning 67 cents on the dollar and Hispanic women earning 58 cents on the dollar. This is despite the advances women have made in higher education and the college-educated workforce over the last few decades.”

Nearly 1 in 3 female homeowners say they are unprepared for the potential costs associated with extreme weather events in their area. The costs associated with owning a home extend well beyond mortgage payments. The national average cost of home insurance is $2,242 per year as of March 2025, but depending on where you live, you may also need to pay for a separate wind, wildfire or flood insurance policy. Then, there are the costs for completing home updates to help mitigate damage from extreme weather, evacuation expenses, supplies for sheltering in place and funds for repairs if damage occurs.

These costs add up fast for everyone, but men may experience less financial strain on average. Our Extreme Weather Survey showed that 21 percent of male homeowners would describe their level of financial preparedness regarding the potential costs associated with extreme weather events in their area as “very prepared”, compared to 14 percent of female homeowners. More men (45 percent) also described themselves as “somewhat prepared” than women (38 percent).

Even with a policy in place, there are expenses that insurance doesn’t cover. Homeowners need funds to pay for insurance deductibles, which can cost thousands of dollars. Some services, such as water and mold remediation, need to be completed immediately to prevent further damage. Carriers usually refund the costs of these services to homeowners, but a deposit or even payment in full may be required for the work to start. These types of situations are exactly what an emergency savings account is for.

“With less money coming in on average, women are at higher risk of not having a well-stocked emergency fund — at least three to six months’ worth of expenses,” says Gailey. “Our research at Bankrate found that 34 percent of men have more emergency savings than a year ago, while only a quarter of women reported the same.”

Financial security may equal physical safety for women during disasters

The World Bank and the Global Facility for Disaster Reduction and Recovery (GRDRR) published the Gender Dimensions of Disaster Risk and Resilience study to understand the gender dynamics during and after various disasters. Research shows that in the Global South, more women tend to die in natural disasters than men. However, in Global North countries, like the U.S., women have a higher risk of mortality due to “gender gaps in access to information on disaster preparedness, access to public shelters and limits to mobility,” creating a disadvantage.

The World Bank study also found that social and cultural norms may also limit women’s ability to earn income after a disaster. Women usually handle the bulk of increased domestic burdens caused by disasters and miss out on economic opportunities. A U.S.-based study discovered that traditional gender roles “resurface” after disasters. Women are relegated to more isolating duties, such as childcare and domestic tasks, and excluded from decision-making on finances and recovery efforts in favor of male input.

One seemingly universal outcome of natural disasters is the increase in sexual assault and domestic violence against women. According to the National Sexual Violence Resource Center (NSVRC), overcrowding, stress and depleted resources are some of the key factors behind the rise of sexual violence during disasters. “I’ve never been to an emergency shelter before,” says Boudreaux. “And after the reports of how bad it was during Katrina, I don’t know if I ever would.” 

This highlights the need for women to have access to emergency savings to evacuate to a safe location. Bankrate’s Emergency Savings Report found that 22 percent of U.S. women don’t have any emergency savings, compared to 16 percent of U.S. men. Residents in high-risk areas may need to evacuate a few times a year. While most evacuations last only a few days, FEMA states that families with small children should plan to be away from home for 10 days.

It was frightening, you could hear gunshots and helicopters everywhere. The police weren’t able to get anywhere, there was no emergency response available…I think if you have a decent enough savings account so you can get out of town for a little while, it’s only your stuff that will get damaged, not your person.

— Lynn Boudreaux
mother and Louisiana resident

Nearly 1 in 10 female homeowners are uninsured

One surprising find from our study is the different responses between male and female homeowners regarding policy knowledge and coverage. Nearly twice as many women (17 percent) than men (9 percent) said they don’t know what their homeowners insurance deductible is. And 9 percent of female homeowners said they do not have homeowners insurance, compared to 5 percent of men.

The ability to pay your homeowners insurance deductible is crucial after an extreme weather event, especially if your home has suffered significant damage. When a homeowner doesn’t have enough funds to cover the deductible, this can cause a delay in repairs since that balance is owed to the contractor.

Lynn Boudreaux’s home after Hurricane Katrina, 2005.

The difference between male and female homeowners who say they cannot pay their deductible without going into debt is negligible, 14 percent and 15 percent, respectively. However, while most female homeowners (58 percent) said they would be able to pay their home insurance deductible without going into debt, this comes at a lower rate compared to male homeowners (72 percent).

Regionality impacts income levels and home insurance affordability

Breaking down our survey data by region highlights how high-risk locations and limited income compound the financial challenges caused by extreme weather events. This is especially relevant for female homeowners in the South.

Seventeen states and Washington D.C. make up the southern region of the U.S. according to the U.S. Census. Of the 10 states with the most significant gender pay gap between men and women, Louisiana, Mississippi and Oklahoma — each a Southern state —  make the list, with Louisiana securing the top spot. In addition, all three states rank high for extreme weather risk and have some of the most expensive homeowners insurance rates in the country because of these risks.

For a more complete understanding of the pay disparity between men and women, we can look at states’ median annual income. Among the 10 most expensive states for home insurance, five of them also rank among the worst in terms of median income for women: Oklahoma, Louisiana, Kentucky, Mississippi and Arkansas — re-emphasizing the financial burden felt in the South.

Southern states, especially around coastal areas, are more prone to extreme weather disasters from severe storms, flooding and tornadoes. The disadvantage created by the income imbalance between men and women is more consequential when factoring the additional costs many southern homeowners are required to spend on flood and wind coverage.

Males and female homeowners take similar approaches to preventative measures

With extreme weather becoming more frequent and intense, some carriers are limiting or eliminating some types of extreme weather damage coverage from insurance policies. Making efforts to mitigate extreme weather damage and understanding the intricacies of homeowners insurance can help homeowners protect their biggest investment during times of uncertainty.

Our study asked which if any of the following have been done in the past five years as a precaution to protect homeowners’ property against damage from extreme weather events. Male and female homeowners responded similarly to having reviewed their home and or auto policies to ensure proper coverage, at 39 and 40 percent, respectively. Worth noting, though, is that more male homeowners said they invested in weather-proofing strategies than women — 10 percent compared to 7 percent.

According to Boudreaux, she has made several changes to minimize the impact a hurricane could have on her life and financial situation in the 20 years since Hurricane Katrina. “We moved more inland, we have a well, generators; our home will be fine.” Boudreaux also says that while she didn’t have renters insurance to cover her belongings and two months of displacement when she lived in her apartment, she knows every detail of her current homeowners insurance policy.

Bottom line

Money can’t buy happiness, but it can buy security and safety. Women in the U.S. have made great strides to narrow the gender pay gap, but with extreme weather becoming more common, women and caregivers should pay extra attention to their insurance coverage and prioritize creating an emergency savings account. Homeowners insurance can do more than replace or repair your dwelling. If your home is uninhabitable after a covered disaster, additional living expense coverage can reimburse your living expenses, making it more feasible for you to choose a safe location. Emergency savings can help you secure last-minute shelter supplies or help you get out of danger when sheltering in place isn’t the best option. Ultimately, financial preparedness and home insurance can give you and those you care for a chance to find safer solutions when extreme weather inevitably occurs.

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Methodology

Extreme Weather Survey

Bankrate commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,374 U.S. adults, of whom 1,293 are homeowners. Fieldwork was undertaken between July 29–31, 2024. The survey was carried out online and meets rigorous quality standards. It employed a non-probability-based sample using both quotas upfront during collection and then a weighting scheme on the back end designed and proven to provide nationally representative results.

Gender Pay Gap Study

To determine which racial and ethnic groups have the widest gender pay gaps, Bankrate aggregated and analyzed data from the U.S. Census Bureau’s Current Population Survey Annual Social and Economic (ASEC) supplement. Women’s earnings as a percentage of White, non-Hispanic men’s between 1988 and 2023 are based on the median annual earnings of full-time, year-round workers aged 15 and up. To calculate gender pay gaps in states, industries and jobs, Bankrate aggregated and analyzed data from the U.S. Census Bureau’s American Community Survey (ACS) for 2023 showing median annual earnings of full-time, year-round workers aged 16 and up. All data included in this study is adjusted for inflation.