Insuring a home is more expensive than ever. Some studies, like one from ICE Mortgage Technology , found that over the last five years home insurance rates have gone up by 70%.
Just this year alone, nearly half of the homeowners in the country have had their home insurance rates go up, according to J.D. Power. In a press release it wrote, that’s “the highest rate of insurer-initiated rate raises in more than a decade.”
This increase is felt by the majority of Americans, too.
A recent poll conducted by Yale and George Mason universities found that 82% of respondents recognized an increase in their home insurance costs. Some 66% said that their costs have gone up “a lot.”
The purpose of the Yale/George Mason poll, titled " Climate Change in the American Mind ," was not to ascertain