Among the locations in the study, 26 states saw an average increase of more than 20%, Policygenius reported. Credit: Vittaya_25/Adobe Stock
The average cost of home insurance increased 21% from May 2022 to May 2023, according to an analysis from Policygenius, which found that 94% of homeowners saw rate increases at renewal.
The review which included 17,401 active policies quoted for renewal from 44 states and Washington, D.C. Among the locations in the study, 26 states saw an average increase of more than 20%. In comparison, no state saw an average premium increase above 19% from May 2021 to May 2022, according to Policygenius.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
