2023 US home insurance rates projected to reach record high of $2,522, increasing 6%.

Home insurance rates in the US are projected to hit a record high in 2023, with the average premium increasing by 6% to reach $2,522 due to intensifying natural disasters, rising reinsurance costs, and higher fees for home repair. This follows a 20% increase in the past two years, making housing costs more unpredictable for many Americans. States hit by severe weather, such as Louisiana, face even steeper increases, with a predicted 23% rate surge.

April 01, 2024
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