ATLANTA — A recent study by LendingTree on the state of home insurance affordability in the U.S. showed that everyone is feeling the crunch as rates spike.
In Georgia, homeowners saw their insurance premiums jump almost 12%.
Since 2019, LendingTree said the state’s seen a 35.8% increase in prices. Nationally, rates were up an average of 40.4%.
“Rising home insurance costs are squeezing homeowners’ budgets,” LendingTree’s Rob Bhatt said. “For new buyers, it means borrowing less and struggling to afford a home. For current homeowners, higher premiums leave less money for essentials. It’s a financial strain many simply can’t ignore.”
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
TRENDING STORIES:
- Potential federal ban on Delta 8, THC products gets mixed reaction
- Ossoff presses Secretary Collins on filling vacancies at the Atlanta VA during budget hearing
- STORY 3
That means, on average, Georgians are paying $2,870 or so each year to protect their homes and everything inside.
Nearly 13% of homes in Georgia are not insured, LendingTree said.
“Home insurance companies had significant expenses in 2023,” Bhatt said. “In seven states, they paid out more in claims than they earned in premiums. Like companies in other industries, they need to earn more than they spend to remain solvent. Unfortunately, they often have to raise their rates to accomplish this goal.”
[SIGN UP: WSB-TV Daily Headlines Newsletter]
©2025 Cox Media Group
