Homeowners Insurance Rates Rising

Homeowners Insurance Rates Rising

Homeowners insurance rates are on the rise this year, largely driven by losses from significant catastrophes in the U.S. over the past few years, independent insurance agents and an industry expert say.

Pricing is expected to climb 4.5% to 5% on average nationwide, but vary by location, says Robert Hartwig, president of the Insurance Information Institute. Hard-hit areas should expect greater increases, and those that have seen less damage will likely see smaller ones.

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