Homeowners insurance doesn’t move the same way everywhere. A rate change that shows up nationally is really a blend of several very different regional trends, and understanding those differences can help explain what’s behind your own renewal, whatever direction it’s heading.
1. One National Number, Four Regional Stories
The National Association of Insurance Commissioners (NAIC) Center for Insurance Policy and Research recently published its first nationwide analysis of homeowners insurance data, drawing on seven years of state-reported figures from 2018 through 2024. The findings show average premiums rising across every region of the country, but not by the same amount. Between 2018 and 2024, inflation-adjusted average premiums increased by approximately 18% in the Northeast, 25% in the Midwest, 27% in the Southeast, and more than 43% in the West. A single national average blends these very different regional trends together, which is worth keeping in mind any time you see a headline about where rates are heading.
2. What Shapes a Region’s Rates
According to the report, local factors such as weather risk, rebuilding costs, claims patterns, and how many insurance companies are actively writing policies all affect what homeowners experience in their area. That’s why the same national headline can mean very different things depending on where you live.
3. Why Having Options Matters
Premiums are only part of the picture. The same report found that company-initiated non-renewal rates, meaning policies an insurance company chose not to renew, rose between 96% and 216% depending on region from 2018 to 2024. The report found that insurance companies are still active in the market, with more than 700 companies writing homeowners coverage in 2024. But it also found signs of stress: in every region, more than half of the insurance companies that have sold policies there since 2018 are now writing fewer of them. That’s why it helps to have an agent who works with many insurance companies. If one insurance company steps back, you may have other options.
4. Putting the National Number in Context
None of this means your own policy will necessarily follow the national trend, up or down. It means your region’s conditions are a more useful reference point than the national average alone.
Westwood works with more than 60 insurance companies nationwide, so your coverage can be shaped around what’s actually happening in your region rather than a single national figure.
Since regional conditions drive the rate, not a national average, a licensed Westwood agent who knows your region is the most useful resource for understanding your own coverage.
If it’s been a while since your policy was reviewed, or your renewal looked different than expected this year, talk to a Westwood agent about your coverage or contact us to get started.
Please note: This article is for general informational and educational purposes only. It does not represent any specific insurance policy and does not modify any provisions, limitations, or exclusions of any current policy.
