Newswires

A new bill in the New York Legislature aims to stop insurance companies from making money on fossil fuels. "The bill is among the first in the United States to address the predatory behavior of property insurers that are citing climate-driven disasters as a reason for raising homeowners' premiums while simultaneously fueling the climate crisis by financing…

Party lines seemed to divide lawmakers at a June U.S. Senate Budget Committee meeting on "how climate is already challenging insurance markets." Democrats argued climate change is the driving force behind increasing premiums, while Republicans pointed to inflation, rising interest rates, and high government spending. Disaster-prone areas, like coastal…

Drivers in Florida and New York will see double that increase, at 10%, Insurify projects. Florida and New York are also among the top 10 states with the most expensive auto insurance costs. Full-coverage rates in Maryland, the most expensive state for car insurance, increased by 53% in 2024, pushing the state's average annual premium to $4,060.

Over the past decade, home prices have nearly doubled, according to the Case-Shiller U.S. National Home Price Index. Nearly 75% of people who bought real estate in 2020 and 2021 have regrets about their purchases, with 30% saying they spent too much money, the 2022 American Home Buyer Survey by Anytime Estimate reveals. Insurify's data science team analyzed the…

In the past year, Americans have faced a 3.7% jump in food costs, a 7.4% increase in rent, and a 7.2% spike in the price of personal care products, according to the U.S. Consumer Price Index issued by the Bureau of Labor Statistics. The cost of car ownership is up 9% in 2023, driven by rising insurance rates, high vehicle transaction prices, and maintenance and repair…

Using data from the National Association of Insurance Commissioners, Insurify examined the car insurance providers with the highest market share per state and found that five auto insurers have the largest market share in at least one U.S. state. State Farm holds the title in more states than any of its competitors— 29 to be exact. "People are getting into more car…

The U.S. could see five to eight hurricane impacts, three to five of those major, according to the forecasting service WeatherBELL Analytics. Louisiana, the second-most expensive state, has an average annual rate of $6,354, according to Insurify data. Louisiana, South Carolina, and Maine can expect double-digit insurance rate hikes.

State Farm insures roughly one in five California homes, and its recent rate hike proposal has the potential to shift the entire home insurance market in the Golden State. The state's largest home insurer— covering roughly 1.2 million California homes— is seeking to raise home insurance policies by 30% in the Golden State. State Farm officials say the increase…

The cost of car insurance fell in 2025, but the average full-coverage premium is still up 42% in the past four years. As the cost of living rises, many Americans are taking steps to cut back on expenses. Today, the typical U.S. driver pays $2,144 for full-coverage car insurance per year, making it one of Americans' largest baseline expenses.

Thefts of the auto part, which converts exhaust into less harmful gasses, are down nearly 37% in the first half of 2023, according to new data released by State Farm, the largest U.S. car insurer by market share. Claims peaked in 2022, when State Farm received 45,000 catalytic converter theft claims. Thieves can net anywhere from $25 to $300 for a standard catalytic…

The National Flood Insurance Program paid out $913 million to U.S. homeowners last year, and $629 million of that went to residents in Florida. Florida homeowners face highest home insurance costs in the U.S.. Florida has the most expensive home insurance rates in the U.S., and those premiums don't include the added cost of flood insurance.

Renters in California may see their rents spike as landlords transfer rising insurance costs onto their tenants. Renters make up 44% of California's population, according to U.S. Census Bureau data. About a third of California renters spend more than half their income on rent, according to the Public Policy Institute of California.

This is contributing to rising vet care costs, which are up 7% year over year, according to the U.S. Bureau of Labor Statistics. But for breeds at high risk for health problems, the premiums can exceed $1,400 annually. This is 264% higher than the national average premium of $700 per year.Pet insurance premiums exceed $1,400 for breeds that are more likely to…

California's auto insurance costs have climbed steadily over the past few years and could increase even more in 2025, when the state's higher liability insurance requirements begin. Previously, California was among the five states with the lowest requirements. The need to keep pace with higher vehicle repair and medical costs likely prompted California…

That's the message from the Michigan Department of Insurance and Financial Services to insurers statewide. "When we see a failure to abide by the Insurance Code, we refer those cases for investigation and possible enforcement action," Laura Hall, director of the Office of Communications at the Michigan Department of Insurance and Financial Services, told…

Recoop Insurance offers a unique disaster insurance product in 47 states to homeowners and renters living in state-declared or federally declared disaster areas. Consumers can choose coverage plans ranging from $5,000 to $25,000. Sola covers up to $15,000 for any out-of-pocket costs and pays claims within days, using National Weather Service data to…

The U.S. war with Iran has added a new layer of uncertainty to the global economy. But disruptions from the conflict in Iran aren't likely to raise insurers' costs by that magnitude. If Americans drive 10% fewer miles in 2026, the average annual car insurance premium could fall to $2,209 by year's end.

Auto insurance is one of the most common types of insurance in the U.S. Nearly all states require drivers to have liability car insurance covering a minimum amount of property damage and bodily injuries resulting from accidents. Depending on the severity of the offense, penalties can include fines up to $1,500, driver's license suspension, vehicle…

Extreme weather, amplified by climate change, has raised insurer risks and insurance rates for U.S. homeowners, especially in the last decade. Florida, for example, sustained a staggering $237 billion in disaster damage from 2020 through 2024— increasing non-renewal rates and stoking the state's insurance crisis. California has its own insurance crisis…