InsureWatch

National Trends

How the US home insurance crisis has evolved from 2018 to 2022, based on Treasury FIO and federal data.

2022 Avg Premium

$2,026

+21.5% since 2018

2022 Nonrenewal Rate

N/A

Up from 1.11%

2022 Storm Damage

$3.6B

Uninsured Rate

8.5%

8.5% of homeowners

Average Annual Premium

$2,026
$1,667$1,757$1,847$1,936$2,02620182019202020212022202320242025

Nonrenewal Rate (%)

1.2%
0.9%1.0%1.1%1.2%1.2%20182019202020212022

Annual Storm Damage ($B)

$4B
$3B$4B$5B$6B$6B20182019202020212022202320242025

Uninsured Homeowner Rate (%)

8.5%
5.2%6.0%6.8%7.7%8.5%20182019202020212022202320242025

30-Year Mortgage Rate (%)

6.1%
3.0%3.9%4.9%5.8%6.8%201820192020202120222023202420252026

Median Home Price ($K)

$411K
$321K$350K$379K$408K$437K20182019202020212022202320242025

Key Takeaways

Premiums are rising steadily. Based on FIO data, the national average premium per policy grew from $$1,667 in 2018 to $$2,026 in 2022 — a 21.5% increase. In high-risk states like Florida and Louisiana, average premiums are 2-3x the national figure.

Nonrenewals are a leading indicator. The national nonrenewal rate was 1.2% in 2022. In coastal ZIP codes, rates can exceed 40% — meaning nearly half of homeowners are told their insurer won't continue coverage.

Storm losses are climbing. NOAA recorded over $37 billion in storm-related property damage from 2018-2025. Climate change is driving both the frequency and intensity of catastrophic weather events, with 2023 and 2024 among the most active years.

The uninsured gap is growing. An estimated 7.4% of homeowners carry no insurance — up from 5.2% in 2018. This represents over 6 million households exposed to total loss from a single disaster.

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