U.S. Homeowners Insurance Rates Rose 40.4% in Six Years, Report Shows

U.S. homeowners insurance rates rose 40.4 percent over the past six years, with the biggest increases hitting in the last two years, a new report shows.

LendingTree’s 2025 State of Home Insurance Report shows rates from 2019 through 2021 remained stable, with increases of 2.0 percent in 2019, 2.1 percent in 2020 and 3.0 percent in 2021. Then rates started rising in 2022 with increases of 5.4 percent, 11.0 percent in 2023 and 11.4 percent in 2024.

The average annual cost of home insurance across the U.S. is now $2,801. The most expensive states for homeowners insurance are Oklahoma ($6,133), Nebraska ($5,912) and Kansas ($5,412), according to the report.

Hawaii has the lowest average rate at $632, followed by California ($1,260) and Vermont ($1,339), the report shows.

The states with the largest rate increases between 2019 and 2024 were: Colorado (76.6 percent), Nebraska (72.3 percent) and Utah (70.6 percent).

Colorado’s increase was partly due to an uptick in billion-dollar natural disaster events. There were 24 between 2019 and 2024. Nebraska experienced 25 natural catastrophes, and Utah has seen growing losses from disasters in wildfire-prone areas, the report shows.

Other key findings in the report:

Montana and Nebraska saw the largest jumps in home insurance rates in 2024, both at 22.1 percent. Minnesota and Washington each saw an increase of 19.5 percent.
The smallest rate increases in 2024 included Florida (1.7 percent), Texas (3.4 percent) and New York (3.8 percent).
States with the smallest cumulative increases from 2019 to 2024 were Vermont (12.2 percent), Alaska (12.9 percent) and Maine (17.9 percent).

LendingTree’s analysis is based on home insurance data from Quadrant Information Services, sourced from insurer filings, and RateWatch from S&P Global. The analysis used standard coverage amounts and deductibles unless otherwise noted.

The following coverages and deductibles used included: