Home Insurance Rates Surge 38% Nationwide Since 2019 — Arizona, Nebraska, Illinois See Biggest Increases

Benzinga06-06

Rising home prices, inflation and the high cost of building materials contribute to skyrocketing insurance rates, with Americans paying 38% more to protect their homes than in 2019. Arizona saw the ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHome Insurance Rates Surge 38% Nationwide Since 2019 — Arizona, Nebraska, Illinois See Biggest Increases\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-06 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/home-insurance-rates-surge-38-140016074.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rising home prices, inflation and the high cost of building materials contribute to skyrocketing insurance rates, with Americans paying 38% more to protect their homes than in 2019.\nArizona saw the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/home-insurance-rates-surge-38-140016074.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HBCP","symbol_name":"Home合众银行","start_time":0,"source_url":"https://finance.yahoo.com/news/home-insurance-rates-surge-38-140016074.html","article_id":"2441743914","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2441743914","pubTimestamp":1717682416,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Rising home prices, inflation and the high cost of building materials contribute to skyrocketing insurance rates, with Americans paying 38% more to protect their homes than in 2019.Arizona saw the biggest increase, with rates jumping 62%, according to a recent LendingTree's State of Home Insurance in 2024 report. Nebraska followed Arizona, which saw 59.9% higher insurance rates, and Illinois, with costs rising 56.9%.The average cost of home insurance in the U.S. is $2,478 per year, but it's more than double that in Oklahoma, where the average price is $5,478 and Nebraska at $5,363.A new fund backed by Jeff Bezos offers a 7-9% target yield with monthly dividends. Here’s how you can invest today.In addition to increased home prices and building materials, climate contributes to the rate spike as insurers increase their premiums to combat rising claims. Wind and hail account for more than 40% of homeowners insurance claims, followed by 24.1% for fire and lighting claims and 23% for damage","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"HBCP":"Home合众银行","TREE":"LendingTree"},"translate_title":"自2019年以来，全国房屋保险费率飙升38%——亚利桑那州、内布拉斯加州和伊利诺伊州涨幅最大","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HBCP":1,"TREE":0.9},"content_text":"Rising home prices, inflation and the high cost of building materials contribute to skyrocketing insurance rates, with Americans paying 38% more to protect their homes than in 2019.\nArizona saw the biggest increase, with rates jumping 62%, according to a recent LendingTree's State of Home Insurance in 2024 report. Nebraska followed Arizona, which saw 59.9% higher insurance rates, and Illinois, with costs rising 56.9%.\nThe average cost of home insurance in the U.S. is $2,478 per year, but it's more than double that in Oklahoma, where the average price is $5,478 and Nebraska at $5,363.\nDon't Miss:\n\nA new fund backed by Jeff Bezos offers a 7-9% target yield with monthly dividends. Here’s how you can invest today.\nWarren Buffett once said, \"If you don't find a way to make money while you sleep, you will work until you die.\" These high-yield real estate notes that pay 7.5% – 9% make earning passive income easier than ever.\n\nThe lowest average annual insurance costs are in Hawaii, at $549; New Hampshire, at $1,096; and California, at $1,121. These states have low insurance rates because of low approved rate changes this year. The rate was 4.2% in Hawaii, compared to 5.5% in New Hampshire and 8.8% in California.\nIn addition to increased home prices and building materials, climate contributes to the rate spike as insurers increase their premiums to combat rising claims. Wind and hail account for more than 40% of homeowners insurance claims, followed by 24.1% for fire and lighting claims and 23% for damage and freezing.\nFire and lighting had the largest average claim amount at $83,519. Liability claims came in second with an average loss of $25,323.\nTrending: Are you rich? Here’s what Americans think you need to be considered wealthy. \n\"Insurance companies have to repair more homes, and it's more expensive to rebuild each one than it might have been just five years ago,\" Lending Tree home insurance expert and licensed insurance agent Rob Bhatt said. \"When their costs of paying claims go up, they turn around and raise our rates. This is affecting prices for just about everyone, including people who haven't been directly impacted by a natural disaster, or at least not yet.\"\n10 States With Biggest Increases In Home Insurance Rates, 2019-2024\n\n\n\nRank\nState\nCumulative increase, 2019-24\n\n\n1\nArizona\n62.1%\n\n\n2\nNebraska\n59.9%\n\n\n3\nIllinois\n56.9%\n\n\n4\nUtah\n54.6%\n\n\n5\nTexas\n54.5%\n\n\n6\nColorado\n50.7%\n\n\n7\nSouth Dakota\n49.7%\n\n\n8\nCalifornia\n49.4%\n\n\n9\nMinnesota\n45.2%\n\n\n10\nMontana\n44.3%\n\n\n\nSource: LendingTree analysis of RateWatch from S&P Global data\nSo far this year, home insurance rates have increased 5.8% across the U.S., with Nebraska (13.3%), Illinois (12%) and Montana (11.6%) seeing the biggest jumps from January through March.\n Keep Reading:\n\nElon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible.\nCommercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. This platform allows individuals to invest in commercial real estate with as little as $5,000. \n\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article Home Insurance Rates Surge 38% Nationwide Since 2019 — Arizona, Nebraska, Illinois See Biggest Increases originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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