Services
Insurance
Loans
Repairs
Advice
About

Are home insurance rates going up?

I’m astonished when I think about how much more expensive my home insurance premium is now. I have good credit. I’ve never needed to make a claim before. Is this only happening to me, or are home insurance rates just going up?

avatar
Melanie Mergen · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Seeing an increased price on anything you need is never a great feeling. While many factors could increase your
home insurance
costs, it’s true that generally speaking, home insurance premiums are on the rise.
Over the last decade, premiums have risen considerably. The average cost of homeowners insurance premiums rose from $880 to $1,249** between 2009 and 2018. That’s an increase of about 42%.
The last few years haven’t diverted from this trend. In addition to the ongoing COVID-19 pandemic’s devastating effects on public health, it’s also resulted in supply chain shortages and steep inflation. As a result, insurance premiums in some states rose an average of 20 to 30 percent in 2021.
That same article goes on to explain one aspect of why that is. If something happens to your home, you need to be able to rebuild it, and to rebuild now amid widespread shortages of labor and materials (which are now more expensive) will inevitably cost more. This increased cost to rebuild your home in a worst-case scenario, in turn, affects the price of home insurance premiums.
Hopefully, in time, inflation rates will cool off, and our home insurance premiums will, too. Until they do, you can make sure you’re getting the best price for the right policy with the
Jerry
app. It only takes about a minute to answer a few questions, and then you can compare multiple quotes from top insurance companies. Jerry’s friendly, experienced agents are also here to answer any questions you have that may come up along the way.
View full answer 
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings