Around 10% of U.S. homeowners said they are uncertain how much their insurance premiums increased during 2023, according to a survey by Valuepenguin.com. Credit: sommart/Adobe Stock
During 2023, 72% of home insurance policyholders saw premiums grow, according to a ValuePenguin.com survey, which also found that 34% of Americans are finding it more difficult to afford coverage.
Among homeowners surveyed, 34% said they had an increase of 5%-9.9%, while nearly one-quarter saw a 10%-29.99% increase in their home insurance costs. ValuePenguin reported that 3% of homeowners had premium increases of 30% or more. An additional 10% reported being uncertain of how much their premiums rose.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
