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Home Insurance Now Costs More than Property Taxes in a Majority of US Counties/Parishes
Posted on 10/21/26 at 9:09 am
Posted on 10/21/26 at 9:09 am
quote:
Home insurance rates have risen so dramatically over the last decade that the average premium now exceeds the average property-tax bill in two-thirds of counties, according to an analysis published Monday by Bloomberg Intelligence.
quote:
Homeowner policies, averaged at the county level, have gone up by an inflation-adjusted 45% in a decade. But some states are seeing much higher jumps — such as Nebraska, with a rise of 79%.
The analysts also estimated the portion of auto premiums related to extreme weather. When that is added to home insurance premiums, the combination is now more expensive than property taxes in 75% of the nation’s counties.
quote:
A property-tax revolt has been brewing around the country. But homeowners are paying a county-level average of 14% more for insurance than for property tax — 30% when auto insurance is factored in, writes Andrew John Stevenson of Bloomberg Intelligence. The frequency of hail damage is leading to higher auto insurance in the Great Plains and Upper Midwest.
I read this on Bloomberg but most of you are poor and dumb so you don’t have a subscription so it’ll be behind a paywall so you get the LA Times
LINK
Posted on 10/21/26 at 9:21 am to Mingo Was His NameO
Paid home insurance for close to 20 years and never made a claim. Haven’t paid a dime to those assholes in 7 years. Cut the cord!
More of a reason to pay cash. Know a couple people in Texas where their yearly property taxes, insurance, HOA, etc is more than their yearly mortgage.
More of a reason to pay cash. Know a couple people in Texas where their yearly property taxes, insurance, HOA, etc is more than their yearly mortgage.
This post was edited on 10/21/26 at 9:23 am
Posted on 10/21/26 at 9:22 am to Mingo Was His NameO
I don’t completely understand this market. Demand is way down but prices are still through the roof. Houses are sitting for years. No one wants to let go of their 3% mortgage. Why haven’t prices fallen? I get why insurance is up. Cost of rebuilding or fixing a home skyrocketed too. If the prices ever come down and rates come back to 5%, doubt the insurance will come back though.
Posted on 10/21/26 at 9:25 am to Mingo Was His NameO
I assume this has likely always been true for most people in LA
Posted on 10/21/26 at 9:25 am to Mingo Was His NameO
Even with my house paid off, my monthly house payment (if paying INS and Taxes monthly) is $561
This is ridiculous
This is ridiculous
Posted on 10/21/26 at 9:26 am to Mingo Was His NameO
If these kids would just stop going to Starbucks every morning, maybe they could afford a house
Posted on 10/21/26 at 9:30 am to Mingo Was His NameO
Impossible. I’ve been bombarded by boomers that Millennials, Gen Z, and Gen Alpha are just lazy and have the wrong priorities to be able to afford homes. Houses aren’t more expensive, we just have more expensive taste.
Posted on 10/21/26 at 9:30 am to BabyTac
quote:
Paid home insurance for close to 20 years and never made a claim. Haven’t paid a dime to those assholes in 7 years. Cut the cord!
This may be your best one yet
Posted on 10/21/26 at 9:31 am to Salmon
quote:
I assume this has likely always been true for most people in LA
anyone south of I-10 sure... but prior the 5 back to back Hurricanes in 2021 you could get a HO3 policy on a near half million dollar house in the BR are for around 1500 annually
Posted on 10/21/26 at 9:32 am to ell_13
quote:
Demand is way down but prices are still through the roof.
Basic law of supply and demand. Demand is low, but so is supply. Nobody wants to sell their current home and end up with a new mortgage rate 3x higher than their current one.
2008-09 housing prices crashed because their was a massive number of foreclosures. So you had a big increase on the supply side with the banks trying to sell off the homes they foreclosed on. I don't think we see any big correction on home prices unless we have another big foreclosure crisis that increases the supply of properties on the market.
Posted on 10/21/26 at 9:32 am to Mingo Was His NameO
Not me
Posted on 10/21/26 at 9:33 am to Oilfieldbiology
quote:Both can be true. The amount of consumption (purchases) taking place today compared to even the 90s is off the charts. The things expected in a “basic” house are unreal.
Houses aren’t more expensive, we just have more expensive taste.
Posted on 10/21/26 at 9:33 am to ell_13
through the roof. Houses
—ISWYDT
—ISWYDT
Posted on 10/21/26 at 9:34 am to Tiger Prawn
I feel like the supply is there. There are a ton of homes for sale around me compared to just a few years ago. New builds just sitting with no one to look at them. The large homes definitely aren’t moving.
Posted on 10/21/26 at 9:37 am to Mingo Was His NameO
my homeowners insurance premium has always been higher than my tax bill, since 1990
Posted on 10/21/26 at 9:38 am to ell_13
I think this year my taxes and insurance are about equal. my taxes went up $200. hopefully insurance stayed the same.
Posted on 10/21/26 at 9:38 am to Mingo Was His NameO
The Texas Insurance Commission is a joke.
It ripe with payoffs and cronyism. Every year they say they are fighting for homeowners, but they always allow the insurance companies to take huge rate increases and they allow those bloodsuckers to deny claims and pull out of markets in the middle of the night.
It ripe with payoffs and cronyism. Every year they say they are fighting for homeowners, but they always allow the insurance companies to take huge rate increases and they allow those bloodsuckers to deny claims and pull out of markets in the middle of the night.
Posted on 10/21/26 at 9:41 am to Mingo Was His NameO
Checking in. My home insurance has risen by almost 1k in two years.
It now is more than my property taxes, and I pay city and county taxes.
It now is more than my property taxes, and I pay city and county taxes.
Posted on 10/21/26 at 9:48 am to Crawdaddy
Still paying on my (low interest) mortgage but my insurance and taxes have gone up and are SIGNIFICANTLY higher than principal and interest now.
Posted on 10/21/26 at 10:45 am to Mingo Was His NameO
quote:
the portion of auto premiums related to extreme weather.
I finished that sentence and was certain the author was going to go on a “Climate Change!!!!” rant. Somehow they restrained themselves.
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