Despite what the world’s least-interesting talking gecko would have you believe, no one likes handing over payments for car insurance. But there’s one thing everyone likes even less: suddenly paying for expensive repairs not covered by your insurance.

Similarly, opponents of action on climate change like to complain about the costs of eliminating fossil fuel emissions. Typically, this implies that the alternative—ignoring climate change—is free. It is not.

A new study by Jeremy Martinich and Allison Crimmins of the US Environmental Protection Agency provides the most detailed estimate yet of the economic costs of climate change in the United States. They found that taking action to reduce emissions could save us at least $200 billion per year by the end of the century.