Extreme weather is driving sky-high home insurance prices in some especially storm-prone parts of the country, a new analysis finds.
Why it matters: Climate change is supercharging extreme weather events like hurricanes, increasing the odds of losses and claims and driving up insurance premiums.
Driving the news: The national average for annual home insurance premiums is up 9% since 2023, per a new Bankrate breakdown, hitting $2,470 as of July. • That's based on quotes for married male-female homeowners with an eight-year-old $300,000 home, a clean claim history, and good credit.
Zoom in: Nebraska ($6,425), Louisiana ($6,274) and Florida ($5,735) are just some of the states with shockingly higher-than-average premiums, Bankrate found. • All three are vulnerable to extreme weather, i