Today's Video Headlines: 09/17/24
Here’s How Much Home Insurance Rates Have Risen in Every StateRising home insurance prices are affecting homeowners across the country, but some states are feeling the pain more than others.
Nationally, the average cost of home insurance for a policy with a $300,000 coverage limit is about $2,300 per year, according to . Rates have been rising nationwide, which experts say is due to inflation in the cost of building materials and an uptick in weather and climate-related disasters. “Still-high home prices and elevated mortgage rates mean financing a home purchase is still out of reach for many would-be buyers,” says . “High insurance premiums only add to this cost, forcing buyers in these markets to either stay on the sidelines or settle for a lower-priced home.”In Florida, 20% of homeowners are paying at least $4,000 per year for home insurance, the highest share of any state.
Homeowners Insurance Interest Rates Surveys
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