2024 Data Review

Executive Summary

Homeowners insurance has been getting a lot of recent attention. At Eventual, we build products that protect real estate owners from rising insurance premiums. Along the way, we've become insurance data experts. Here's a simple, data-driven summary of what's actually going on, based on real renewals from tens of millions of Americans.

The data we use in this report are more recent and detailed than any other homeowners insurance publication to date. As a result, our findings are highly specific and avoid reliance on any outside anecdotes.

We've learned that insurance affordability is a permanent concern while uninsurability is primarily driven by regulatory dynamics. Inflation was responsible for 72% of premium growth from 2016-2023. This reversed in 2024, when insurance rates outpaced construction cost.

Primary Statistics

• US homeowners insurance premiums grew 12% annually for the last three years.
• 3% of US homeowners couldn’t get standard insurance last year. Outlook improved as states deregulated pricing.
• Insurers kept non-renewals consistent at 1% for the last 6 years.
• Damage from major natural catastrophes grew 10% annually for the last 20 years.
• Hurricanes consistently caused more insurable damage than all other perils combined.
• Inflation was mostly to blame for rising premiums over the last decade, but rate played a larger role last year.
• The cost to rebuild a home grew much faster than the consumer price index over the last decade.

The full report is available via the download button below.