#homeowners-insurance

#homeowners-insurance

Idaho homeowners enjoy some of the lowest insurance premiums in the nation, even as premiums rise across many other states. While climate risks are pushing prices higher in places like Florida, Texas, and California, new data from the U.S. Census Bureau and the Realtor.com® 2025 Climate Risk Report show that Idaho households remain relatively insulated from the steepest increases. Idaho's Insurance Costs Stay Affordable

Arizona homeowners continue to see relatively affordable homeowners insurance compared with much of the country. While premiums have climbed in high-risk coastal states, data from the U.S. Census Bureau and the Realtor.com® 2025 Climate Risk Report show that Arizona remains on the lower end of the spectrum.

The average American emergency savings is only $500, significantly below the recommended three to six months of living expenses, leaving many ill-equipped for home repairs or emergencies. Homeowners in high climate-risk areas face challenges with insurance, as premiums soar in disaster-prone regions, leading to some homeowners considering going without insurance due to high costs. With over $12.7 trillion worth of U.S. real estate facing severe climate risk, insurers are either increasing rates or withdrawing from high-risk areas, leaving homeowners with limited coverage options.

The California State Automobile Association, an insurance group affiliated with AAA, has officially filed for a homeowners' insurance rate increase. "It's pretty insane to me that, you know, when it comes to their turn to pay out, they're not doing it as they should be," CSAA Insurance customer Jesse Kramasz said. Kramasz has had an open claim with CSAA since 2020. MORE: State Farm requests another rate hike, 1 week after CA approved the last one "The day after Christmas, actually," she said. "So, we noticed a leak under our sink, which turned into this big old thing, and we just had problem after problem and delays from the insurance company and just haven't been able to get our claim settled."

In addition to consumers, housing industry players are also feeling the strain caused by rising premiums. Affordability is already a challenge for homeowners and insurance is just another catalyst making it more difficult for a lot of consumers to continue making their payments, Toby Wells, the president of Cornerstone Servicing, said. He adds that this, in turn, drives up costs for servicers as they need to provide these consumers with loss mitigation efforts.

When selling a house, your homeowners insurance policy should remain in place until the buyer officially owns your home. Keeping the necessary coverage ensures the property stays protected.

Buying any house is costly, but the cost to buy, rehab and flip a house can be costlier. By definition, house flipping is the practice of buying property as a real estate investment with the intention of holding it for a short period of time, then reselling it for a profit.