Why Insurance Premiums Are Rising for Homeowners

"Risk comes from not knowing what you're doing." — Warren Buffett

Homeowner’s Insurance Premiums are Increasing

By Brad Beckett on July 15, 2025

CNBC is reporting that while homeowner’s insurance premiums vary widely from state to state, they are all going up.  They say that according to experts, increasingly severe storms and other disasters, combined with rising housing costs, are pushing rates higher.  In fact, California’s recent wildfires could cause insurance premiums to go up by 21% across the state.

“An event like that in California just has a really significant impact on how much we project premiums to go up,” said Chase Gardner, data insights manager at Insurify. He added that when insurance companies “are paying out more than they’re bringing in premiums, the more that goes up, the more they need to raise prices.”