Rising home insurance premiums are significantly affecting homeowners, with Florida facing the highest burden — 20% of homeowners pay over $4,000 annually for insurance.
The average home insurance policy with a $300,000 coverage limit costs about $2,300 nationally, but rates have been influenced by inflation and increasing climate disasters.
States like Louisiana, Texas, and Colorado also report significant percentages of homeowners paying over $4,000 in annual premiums, while overall rates continue to rise across the nation.
Insurers are responding to claims exceeding premium income by raising prices and tightening coverage, particularly in areas vulnerable to severe weather and wildfires.
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