Why U.S. Home Insurance Costs Are Surging
Summary
U.S. home insurance premiums rose 8.2% from 2024 to 2025, compared with a 2.1% median increase across 27 OECD countries. Rising rebuilding costs and weather-related losses are among the factors linked to higher premiums; a separate study found that premiums for a typical U.S. homeowner rose 24% in three years.Key Facts
- The United States had the fourth-largest home insurance premium increase among the 27 countries studied.
- Premiums rose in 22 of the 27 countries between 2024 and 2025.
- Turkey had the largest increase at 13.7%, followed by France at 12.6% and Norway at 11.7%.
- Home insurance prices fell in Denmark, Estonia, Germany, Italy and the United Kingdom.
- Canadian premiums increased by 0.2%, described as essentially flat.
- A NerdWallet study found that premiums for the typical U.S. homeowner rose 24% in three years.
- U.S. construction costs rose more than 40% between 2019 and 2024, according to Carolyn Kousky.
- The country comparisons measure nominal price changes, not inflation-adjusted costs or the share of household income spent on insurance.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
