A recent analysis of homeowners insurance rates indicates that several states in the Midwest experienced the most significant increases in premiums over the past year, with American Family Insurance leading a list of ten insurers ranked by average rate changes.
This analysis, released by S&P Global Market Intelligence this week, is based on homeowners rate filings that were approved up until December 27, 2024, thus not encompassing the entirety of the previous year.
S&P GMI reports that the weighted national average effective rate increase for homeowners insurance was 10.4% last year, as of late December. In comparison, the figure for 2023 was 12.7%, resulting in a cumulative two-year average increase of approximately 24 percent.
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