A survey finds 47% of insured homeowners would have difficulty affording their mortgage if insurance premiums rise next year, with new buyers paying an average $2,887 for coverage.
Seventy-four percent of new homeowners say insurance premiums significantly affect their housing budgets, prompting increased use of comparison tools and direct carrier research to find savings.
Rising insurance costs are driven by economic pressures, higher labor and material costs, and severe weather risks, leading more first-time buyers to consider supplemental coverage for disasters like floods and earthquakes.
As 'home hardening' becomes crucial, who pays for these expensive upgrades: homeowners, insurers, or government?
How can homebuyers accurately price climate risk when buying a home they plan to own for 30 years?
With insurers retreating from high-risk states, is private home insurance becoming a luxury good?
Are comparison websites enough, or does the market need a new model for insuring the most at-risk homes?
With Florida premiums nearing $10,000, will a generation be priced out of homeownership in entire states?
Beyond insurance, should cities restrict building in areas now prone to climate-driven disasters?