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Home Insurance Costs Surge, Strain Homeownership
Finance
— Sep 9, 2026
Global home insurance costs are rising driven by extreme weather, high construction costs, and evolving risk, as Canada reports a $439 million insured-loss event with a coverage gap for sewer backups, Australia sees premiums up about 51% over five years, and U.S. mortgage holders face a near-80% rise in insurance costs since 2020 while switching carriers can yield savings. Disparities persist in the U.S. and nationally, with Hispanic and Black homeowners paying substantially more for identical policies due to redlining legacies and related factors, highlighting ongoing inequities in home insurance affordability and access amid climate-driven risk.
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