Pew survey: 71% of homeowners report rising insurance costs, with 42% seeing significant increases
By
Greg Iacurci
If you only eat one bagel today, this is the bagel.
Summary
A Pew Research Center survey found that 71% of homeowners report their insurance costs have increased in recent years, with 42% saying costs have gone up "a lot." Between 2021 and 2024, average annual premiums jumped by $648 (24%) to $3,303. The rising costs are attributed to a combination of inflation, climate change-related natural disasters, and other economic factors, with broad implications for consumers and the housing market.
Key quotes
· 3 pulledAbout 71% of homeowners said the cost of their homeowners insurance has increased over the past few years, with 42% saying costs have gone up 'a lot,' according to a new survey by the Pew Research Center.
Insurance premiums jumped by $648, or 24%, to $3,303 per year between 2021 and 2024, on average, according to a report published last year by the Consumer...
Inflation, climate change and other factors have combined to push up premiums for homeowners insurance — with broad implications for consumers and the economy.
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