Stingy

No matter where you live, you’re probably paying more for insurance. Homeowners premiums are averaging $1,700 this year, up 10% since 2022 and 36% since 2018, according to the Insurance Information Institute, a trade group.

Coverage is also getting stingier as insurers tighten terms. Some insurers are placing limits on the age of a home’s roof and are increasing dwelling coverage limits, referring to the maximum amount an insurer will pay to rebuild a home, says Mark Friedlander, director of corporate communications at the institute.
–Barron’s