Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums.
Within the last five years, homeowners’ insurance premiums have spiked by 34% nationwide, with 61% of homeowners reporting higher rates in the previous 12 months and over one in 10 saying their premium has doubled or more than doubled, according to Claimgu