Home insurance premiums set to rise again as extreme weather drives costs up [Los Angeles Times (CA)]
MUENCHENER RE GP UNSP/ADR (MURGY)
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Source: Los Angeles Times
The average annual premium is projected to increase 4% to about $3,057 this year, after jumping 12% in 2025, according to Insurify, an online insurance comparison site. The expected gain follows several years of steep growth in rates. Since 2021, premiums have climbed 46%, roughly three times as much as inflation, Insurify said. The forecasts are in line with other recent estimates. A report released Tuesday by Lending Tree, an online mortgage comparison site, found home insurance price increases were outpacing both inflation and income growth. In a separate analysis last year, the Consumer Federation of America said premiums rose in 95% of ZIP codes between 2021 and 2024. Over that period, the cost of coverage for a typical homeowner increased by $648 on average. There is a growing body of research connecting extreme weather, exacerbated by climate change, to insurance price increases. A U.S. Treasury Department analysis of more that 243 million home policies, released in Januar
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