America’s Home Insurance Rates Skyrocket–Almost 35 Percent Struggling to Afford Premiums This Year

This aerial picture shows homes near Castle Harbor Marina in Stevensville, Maryland, on March 4, 2024. Jim Watson/AFP

A new survey by LendingTree LLC indicates that more than 34 percent of Americans are now struggling to keep up with their home insurance premiums, and 26 percent fear that their homes may become uninsurable in the future.

LendingTree, a comparison website for insurance, mortgages, home equity loans, and more, surveyed more than 2,000 U.S. consumers aged 18 to 78. Almost 20 percent of that group already received nonrenewable notices from their insurance companies. As a result, 8 percent opted to go without insurance this year.