Homeowner’s insurance rates are rising across the United States, with the national average reaching approximately $3,000 per year, according to a report by the online insurance platform The Zebra.
In California, however, the average cost of homeowner’s insurance ranges between $1,300 and $1,800 annually, which is below the national average. This discrepancy may be influenced by extremely high rates in other parts of the country.
“Extreme weather is largely to blame for the surging homeowner rates that we’re seeing across the country,” said KTLA’s David Lazarus during Wednesday’s Consumer Confidential segment.
The report highlights that extreme weather conditions, such as droughts and increased fire risks, are contributing to the rising insurance costs. In California, these conditions have led some insurers to reduce or eliminate coverage, pushing more homeowners towards the costly FAIR Plan, which is intended as insurance of last resort.
The Midwest has some of the highest homeowner’s insurance rates in the country. In Nebraska, rates can reach as high as $8,000 per year, followed by $7,500 in Oklahoma and $5,300 in Kansas. While the exact reasons for these high rates are not detailed, tornadoes could be a contributing factor, Lazarus said.
Artificial intelligence tools were used to reformat from a broadcast script into a news article for our website. This report was edited and fact-checked by KTLA staff before being published.
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