In a changing climate, insurance is presented as a means of addressing growing risk and uncertainty and as at risk of collapse if rising uncertainty leads to an uninsurable future. For some, particularly in the Global North, the threat of climate change is already reflected in the cost and availability of insurance. For others, threats to insurability remain distant or appear of little relevance, especially for those dependent on other modes of assurance. In this chapter, I focus predominantly on home insurance to consider a multitude of changes taking place in insurance and for insurers. To foreground the diverse, fluid, and contested social qualities of insurance, I begin by addressing the question, ‘what is insurance?’ Then, in interrogating changing patterns in insurance affordability and availability, I draw attention to assumptions about the universal value of insurance, concluding that a focus on affordability and availability alone does not address the structural inequalities and inequities of insurance. Overall, I provide an analysis of the simultaneous contraction and expansion of insurance as some lose the ability to insure and insurers expand into new markets, experiment with new products and technologies, and generally maintain profitability and continue to grow.