Chart of the Day: Higher Homeowner Insurance
Contents
Today’s two charts illustrate that Florida continues to struggle with increasingly more expensive homeowners' insurance. 
The article the two charts come from make the case that there are four main reasons:
The article the two charts come from make the case that there are four main reasons:
- Building costs to are increasing faster than inflation
- Houses are getting bigger
- Increased litigation
- More people are moving to higher risk areas, such as along the coast
As with most situations, the solution to high prices is higher prices. These increased costs are likely to attract more insurance companies to the higher cost markets, ultimately increasing competition and reducing excess costs.
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