CNBC is reporting that while homeowner’s insurance premiums vary widely from state to state, they are all going up. They say that according to experts, increasingly severe storms and other disasters, combined with rising housing costs, are pushing rates higher. In fact, California’s recent wildfires could cause insurance premiums to go up by 21% across the state.
“An event like that in California just has a really significant impact on how much we project premiums to go up,” said Chase Gardner, data insights manager at Insurify. He added that when insurance companies “are paying out more than they’re bringing in premiums, the more that goes up, the more they need to raise prices.”
Click on the maps below to make them interactive.
Click here to read the full story at CNBC.com.
