These States Have the Highest Home and Car Insurance Rates in America
Published on December 8, 2023
The most recent report from the Bureau of Labor Statistics (BLS) showed an inflation rate of 3.2 percent, but the costs of homeowners insurance and car insurance are rising at an even greater rate. A November analysis by Policy Genius showed that homeowners insurance premiums rose an average of 21 percent based on data of policy renewals from May 2022 to May 2023, and a report from the BLS shows that the cost of car insurance was 19.2 percent higher in October than it was 12 months previously. Which states have the highest premiums for insurance, and why? According to Bankrate, the average annual cost of homeowners insurance in 2023 for coverage on a $250,000 dwelling was $1,429....