The inhabitants of the United States are increasingly concerned about the high inflation in food, vehicles and health, and that is that even home insurance is suffering a high increase in costs.
Consumer’s price index
The Consumer Price Index indicates that inflation in the United States has risen 8.3% in the last year. However, there are services where this percentage is minimal.
Insuring your home cost a hefty 12.1% more than last year, according to a Policygenius review. All of “where you live, things can be even worse: Homeowners in three states have seen their premiums rise at more than double the rate of inflation,” explains cnbc.com.
Even the cost of construction materials increased significantly in relation to last year.
Policygenius studies an increase of 12.1% more in the last year
Pat Howard, managing editor and licensed property and casualty insurance expert at Policygenius, explains: “Not only are premiums getting more expensive, but with replacement costs rising as a result, you could end up with insufficient insurance.
States in the US that increased home insurance
Policygenius published the 10 US states where home insurance increased the most year over year.
Arkansas: 18,5 %
Washington: 18,1 %
Colorado: 17,5 %
Texas: 16,0 %
Oregon: 15,4%
Arizona: 14,8 %
Utah: 14,1 %
Minnesota: 13,9 %
North Carolina: 13,7 %
Illinois: 13,6 %
As explained by cnbc.com, Arkansas’s increase “is equivalent to a $228 increase in the average annual premium from 2021, bringing the average annual cost of a policy to $1,235.”
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