How home insurance prices rose
The US average homeowners premium year by year from 2013 to 2023, what changed after 2020, and what the figures published since say about 2024 and 2025.
3 minutes of reading | Statutes and tables to be re-checked by 2026-11-15
The national average HO-3 homeowners premium rose from $1,096 in 2013 to $1,737 in 2023, an increase of 58% over ten years. Most of that came at the end: the last three years added more than the seven years before them.
The yearly series
| Year | Average premium | Change on the year | Change since 2013 |
|---|---|---|---|
| 2013 | $1,096 | – | – |
| 2014 | $1,132 | +3.3% | +3.3% |
| 2015 | $1,173 | +3.6% | +7.0% |
| 2016 | $1,192 | +1.6% | +8.8% |
| 2017 | $1,211 | +1.6% | +10.5% |
| 2018 | $1,249 | +3.1% | +14.0% |
| 2019 | $1,272 | +1.8% | +16.1% |
| 2020 | $1,311 | +3.1% | +19.6% |
| 2021 | $1,411 | +7.6% | +28.7% |
| 2022 | $1,569 | +11.2% | +43.2% |
| 2023 | $1,737 | +10.7% | +58.5% |
Sources: 2013 to 2022, NAIC homeowners report data as tabulated by the Insurance Information Institute, HO-3 owner-occupied policies, read October 30, 2026; the NAIC's own release for 2022 put the HO-3 rise at 11.26% (NAIC, May 21, 2025). 2023: the NAIC Homeowners Report, July 2026, Table 4, countrywide HO-3 average, read November 1, 2026.
Three phases
2013 to 2020: steady. Increases of 1.6% to 3.6% a year, roughly in line with general inflation. Seven years added $215.
2021: the turn. Lumber and labor prices jumped, so the cost of rebuilding a house rose faster than insurers' replacement cost models had assumed. Insurers raised dwelling limits at renewal, and premiums followed: +$100 in one year.
2022 and 2023: the steepest years in the series. +$158, then +$168. Catastrophe losses, higher reinsurance prices and continued building cost inflation all pushed in the same direction, most of all in Florida and the Gulf states.
What the newer data say
The NAIC hasn't published averages for 2024 or 2025 yet; its report with 2023 data came out in July 2026. For the years since, two public sources describe the direction:
- The Insurance Information Institute reported that homeowners premiums written by insurers grew 11.8% in 2025, a little slower than in 2024, and that structural replacement costs rose nearly 30% over five years (Triple-I press release, December 17, 2025).
- The Insurance Research Council estimated that the average household spent 2.09% of its income on home insurance in 2022, against 1.19% in 2001, and projected 2.4% for 2024 (Triple-I and IRC, June 2025).
Premiums written include more homes and higher coverage limits as well as price, so they overstate the rise per house. That's why the estimator's default step from 2023 to late 2026 is +25%, less than almost three years of the headline growth would give, and why you can change it.
Worked example: one house over ten years
A house insured for the national average in 2013 and keeping pace with it would have cost:
- $1,096 in 2013
- $1,311 in 2020, $215 more
- $1,569 in 2022, $258 more in two years
- $1,737 in 2023, $168 more in one year
- about $2,170 today if the estimator's +25% holds
Over the same stretch, the premium as a share of income rose because premiums outran wages after 2020, which the IRC figures above capture.
Inflation versus premiums
Not every dollar of increase is a higher price for the same cover. When building costs rise, a house needs a higher dwelling limit to be rebuilt, and the premium on that higher limit rises in proportion. If your insurer increased Coverage A at renewal, compare the rate per $1,000 of coverage, not only the bill: premium ÷ (Coverage A ÷ 1,000). A premium that went from $1,800 on $300,000 to $2,000 on $340,000 looks like an 11% rise, but the rate fell from $6.00 to $5.88 per $1,000: the extra $200 bought 13% more cover.
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