Top 10 States Where Home Insurance Costs Soar: The Results May Surprise You
This quick post is to let you know about a great couple of articles from Forbes regarding the politics and particulars surrounding the costs of home insurance in the top 10 most disaster-prone states in the U.S.
The biggest surprise for me here is that, due to government subsidies, it appears that some coastal properties in Florida are less expensive to insure than inland properties. Does anyone out there know if this is true?
In reading these articles, I also was interested to learn that, in states with lots of coastal area such as Maryland, thoughts about global warming play a role in bottom-line property insurance costs.
Are there any irregularities in your markets that have surprised you when it comes to insurance? If so, let us know about it.
Here is Forbes’ list of top 10 states for high home insurance prices along with their average annual insurance premiums:
- Texas: $1,372,
- Louisiana: $1,144,
- Oklahoma: $1,030,
- District of Columbia: $963,
- Mississippi: $939,
- Florida: $929,
- California: $895,
- Rhode Island: $849,
- Alabama: $847, and
- Kansas: $836.
Tags: disaster prone states, florida home insurance costs, Forbes, home insurance, maryland home insurance