Homeowners had to shell out more money for it Mortgage paymentsand routine maintenance f heating costs This year as inflation has accelerated High interest rates Strained monthly budgets. An even bigger bill to add to that list: home insurance.
Home insurance premium rates increased 9.3% from January 1, 2021 through November 25 on average nationwide, according to data from S&P Global Market Intelligence. The Insurance Information Institute, an industry trade group, also known as Triple-I, said premiums are likely to rise further in 2023.
