Map Shows Where Average Home Insurance Costs More Than $5,000 A Year
Summary
Homeowners in Florida pay the highest average home insurance rates in the U.S., reaching $8,471 per year. Several other states, including Nebraska, Colorado, Oklahoma, Kansas, and Louisiana, also have average premiums over $5,000, driven by factors like frequent natural disasters and rising rebuilding costs.Key Facts
- Florida’s average annual home insurance premium is $8,471, much higher than the national average of $2,872.
- Nebraska has the second highest average premium at $5,513, a 21.1% increase from last year.
- Colorado ($5,511), Oklahoma ($5,378), Kansas ($5,289), and Louisiana ($5,185) also have average premiums above $5,000.
- Massachusetts saw the largest premium increase nationwide (42.9%) but still has below-average rates at $2,112.
- Rising home insurance costs are linked to more frequent and severe weather events like hurricanes, floods, and wildfires.
- Inflation increases rebuilding costs, which insurers factor into their premiums.
- States with older housing or more exposure to natural disasters tend to have higher premiums.
- Some states with expensive premiums saw smaller yearly increases (Florida 6.8%) compared to others with double-digit jumps.
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