hundred dollar bills on fire
Why Is Home Insurance So Expensive?

Homeowners continue to see home insurance take a larger bite out of their paycheck. The main driver of higher costs isn't coming from the insurance companies making a profit, but rather the rising frequency of $1B+ events hitting the US.

yearly frequency of $1b+ natural disasters in US
Source: NOAA Billion Dollar Events

The rising frequency of natural disasters affects every homeowner differently. If you live near the coast or a potential wildfire location, you could see your rates more than double as carriers run out of risk capacity to insure homes with specific risk exposures.

Largest 10 Recent Natural Disasters - 2016-2020

Year Event Damage Area
2019 Missouri River Flooding $10.9B Midwest
2018 Western Wildfires $24.7B California
2018 Hurricane Michael $25.5B Florida
2018 Hurricane Florence $24.5B Carolinas
2017 Western Wildfires $18.9B California
2017 Hurricane Maria $94.5B Puerto Rico
2017 Hurricane Irma $52.5B Florida
2017 Hurricane Harvey $131.3B Texas
2016 Hurricane Matthew $10.9B N. Carolina
2016 Flooding $10.9B


10 natural disasters caused $400B in damages in the last 4 years.

oh my god omg GIF

Now you know why home insurance is getting more expensive. All the more reason to make sure you are getting the discounts you deserve on your home insurance policy.

At your service,
Young Alfred