Home Insurance Premiums Soar Nationwide: Some States Witness Staggering 60% Hike!

Sharing is Caring!

In recent years, homeowners across the United States have been hit with a significant increase in home insurance premiums. The average rise across the country is around 23% since 2023. The average premium in February 2024 is about $141 a month for a home with $250,000 worth of dwelling insurance.

However, some states have seen much higher increases. For example, Louisiana, Nebraska, and Colorado experienced increases of 63%, 61%, and 49% respectively. The rise in premiums is attributed to several factors. An increase in the number and severity of natural disasters, higher construction costs, and more people moving to regions affected by these natural disasters have all contributed to the surge.

See also  Egypt, South Africa, Nigeria, Cameroon, Senegal, Algeria, and Saudi Arabia have begun withdrawing their gold reserves from the United States.

While some states have seen increases within the 30-60% range, this is not the case nationwide. The range of increase in home insurance premiums nationwide can be quite broad, from a few percentage points to over 60% in some cases. It’s important to check with local insurance providers for the most accurate information in your area.

Source:

See also  Credit Card Delinquencies Hit 2012 Levels Despite Low Unemployment

www.cnbc.com/select/homeowners-insurance-skyrocketing-how-to-lower-premium/

Views: 1,099

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.