It cost the homeowners more money mortgage paymentsroutine maintenance and heating cost This year as inflation accelerated and rising interest rates Stressful monthly budget. Another big bill to add to that list: home insurance.
Home insurance premium rates rose an average of 9.3% nationwide from January 1, 2021, to November 25, according to S&P Global Market Intelligence data. The Insurance Information Institute, also known as Triple-Eye, an industry trade group, said premiums are likely to increase further in 2023.