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Published: Apr 10, 2023 5 min read
Collage of a house splitted up and getting bigger
Eddie Lee / Money; Getty Images

Average premiums for homeowners insurance are slated for yet another big increase in 2023, according to a new report.

Nationwide, the average cost of homeowners insurance is projected to jump 9%, or by about $150, according to a recent report by online marketplace Insurify.

Homeowners in some states will see premiums soar much higher than that. In Florida, the most expensive state for home insurance, owners can expect to pay an average of nearly $8,000 for premiums in 2023 — a whopping 66% increase over last year.

Inflation is partially to blame for across-the-board price hikes, experts say, but climate change and rampant fraud are also behind major premium increases in certain areas, sending the cost of home insurance in several states far above the national average.