---
title: Why Are Home Insurance Premiums on the Rise?
---

# Why Are Home Insurance Premiums on the Rise?

* * *

## Why Are Home Insurance Premiums on the Rise?

- Posted on Tuesday, June 19, 2018

As we see home insurance premiums on the rise, several trends are driving up prices, including:

- Big storms - There were sixteen storms and climate disasters in 2017 that exceeded $1 billion in damage.
- Material and labor costs - Just in the last year, lumber costs alone have increased by 17%
- Costs of a claim - The average cost of a homeowners claim now exceeds $11,000 and is up over 30% since 2011.

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