Average cost of homeowner's insurance nearing $3,000 per year

Homeowner's insurance rates are rising across the United States, with the national average reaching approximately $3,000 per year, according to a report by the online insurance platform The Zebra.

In California, however, the average cost of homeowner's insurance ranges between $1,300 and $1,800 annually, which is below the national average. This discrepancy may be influenced by extremely high rates in other parts of the country.

"Extreme weather is largely to blame for the surging homeowner rates that we're seeing across the country," said KTLA's David Lazarus during Wednesday's Consumer Confidential segment.

The report highlights that extreme weather conditions, such as droughts and increased fire risks, are contributing to the rising insurance costs. In California, these conditions ha