Voters worry about home insurance cost
Three quarters of Midwestern homeowners are concerned about rising home insurance premiums and 86% of homeowners surveyed in a poll released Thursday by
The poll surveyed
Average home insurance premiums rose 28% in
More than half, 51%, of those surveyed said they worried insurance costs would impact their abilities to keep, sell or make upgrades to their homes. Respondents to the poll, which was conducted by SurveyUSA, said inflation and insurance companies were the top drivers of the rising cost, but severe weather patterns across the Midwest have also contributed to the mounting cost of home insurance premiums.
Twenty-nine percent of those surveyed across the three states have been personally impacted by severe weather in the past three years and 74% are concerned that damaging severe weather events will become more frequent in their states over the next five years.
The poll also surveyed homeowners in
The poll showed broad support among the Midwestern respondents for several policy recommendations. More than 80% agreed insurers should "clearly disclose" the main factors determining a homeowner's eligibility and premium costs, 79% favored a requirement that insurance companies work with state and local officials to reduce disaster risks and 77% said they should provide funding to help homeowners make their homes more resistant to disasters.
The surveyed homeowners — 81% — also agreed that states should be allowed to recover money from polluting companies and use the funds to support infrastructure upgrades and disaster response in communities. More than 60% of respondents favored policies that would allow those impacted by climate disasters to recover losses from polluters like oil, gas and coal companies.
Thirty-four percent of respondents said insurance companies should bear the greatest responsibility for rising insurance costs caused by extreme weather events. Just over 10% said policyholders should carry the greatest responsibility.


Healthcare system needs a public option
Inflation Sinks Deeper
Advisor News
- Retaining clients by giving them a memorable experience
- Addressing the longevity paradox
- Employers shift focus from retirement access to financial outcomes
- Helping widowed clients navigate their new financial reality
- Navigating client communication in a digital age
More Advisor NewsAnnuity News
- Farm Bureau P&C insurers post first underwriting gain since 2021
- Legacy Marketing, Malibu Life launch two fixed indexed annuities
- Changing client priorities are reshaping annuity conversations
- Solen Software acquires annuity software provider Cooperative Technologies
- MassMutual Expands Lending Options With New Secured Credit Line
More Annuity NewsHealth/Employee Benefits News
- Researchers at University of South Florida Release New Data on Managed Care (Graduate medical education funding and hospital quality: A longitudinal analysis of 881 teaching hospitals): Managed Care
- Researchers at Oregon Health & Science University (OHSU) Release New Data on Managed Care (Postpartum contraceptive use among Medicaid beneficiaries following Idaho’s abortion ban): Managed Care
- State of health care, part 3
- MOAA's TRICARE Guide: Transitioning Into Military Retirement
- High health costs squeeze workers, even if you have good insurance through a job
More Health/Employee Benefits NewsLife Insurance News