One of the biggest concerns facing every American is the rise of insurance costs and premiums. Whether it’s auto, home, or health insurance, costs only seem to be going in one direction and these numbers are good for the insurance company and bad for everyone else. 

The most concerning of all these increases is home insurance, which is undoubtedly the biggest concern to homeowners now facing soaring costs. These increases are only likely to impact the bottom line, especially for retirees and anyone else on a fixed income. 

10. Thibodaux, Louisiana

Between natural disasters and reinsurance costs, which directly leads to increased claims, Thibodaux, Louisiana is one of a few cities in the state feeling the pinch with homeowners insurance. With an average cost of $8,603, the average increase in the state is 24%, with another 23% expected in 2025. 

Severe Weather Risks

Multiple hurricanes have hit Louisiana hard over the past few years, and severe weather risks are significantly impacting the cost of homeowners insurance. It’s believed that as many as a quarter of all insurers in the state are increasing their rates. On top of everything else, car insurance in Ocean Springs has risen to an average of $1,290 per year, well above the state average of $827. 

9. Ocean Springs, Mississippi

Ocean Springs, Mississippi, is feeling hard hit with a state average for homeowners insurance almost 49% higher than the national average. Located on the state’s coast near the Gulf, there is every expectation that costs are surging due to storm concerns. The city’s average price of $9,355 receives a “Relatively” high rating from FEMA regarding a risk warning. 

Surging Costs

When it comes to surging costs in the area, the state of Mississippi is seeing costs increase anywhere between 15 and 70% year-over-year, which is incredible. According to local Real Estate broker Tanya Swoope, this directly leads to tough financial decisions for residents. 

8. New Orleans, Louisiana

At $10,687, New Orleans, Louisiana residents are facing some of the state’s highest surges in homeowners insurance. Unsurprisingly, natural disasters are believed to be the biggest culprit behind this rising cost. There is also a concern that flooding is still a possibility in the event of a major hurricane. 

Car Insurance Pain

Unfortunately, car insurance in New Orleans isn’t going any better than homeowners insurance. Costs in the city have risen as much as 36% year-over-year, and the average price is now $328 per month. This makes New Orleans the most expensive city in the state for car insurance. 

7. Kenner, Louisiana

As in many Florida cities, rising homeowner insurance costs in Kenner, Louisiana, directly result from hurricanes and natural disasters. The current average premium in 2024 is $12,119, which is still thousands above the national average. To help with rising costs, the state is pausing surcharges on Citizens Insurance, the state insurance company. 

Raise Your Deductible

One of the more prominent notions that might help Kenner, Louisiana residents struggling with surging costs, is raising their deductible as much as possible while still being affordable. Along with bundling policies, roof fortification is another recommendation from insurance companies to help offset rising prices. 

6. Port Saint Lucie, Florida

One of the largest cities in the state, Port Saint Lucie, Florida is not exempt from surging insurance costs. With the average premium not sitting at $12,119, it’s the most expensive homeowner insurance city in the state only to receive a “Relatively High” FEMA risk rating, which at the very least means the city is at less risk than Miami or Fort Lauderdale. 

Jump In Car Insurance

As part of Port Saint Lucie residents’ troubles, they face surging homeowners and car insurance premiums that are among the highest in the country. The average premium jump is around 10.1% and will only increase in 2025. The average policy cost in the area is $1,193 for a six-month policy, which is just under $200 a month. 

5. West Palm Beach, Florida

As of the end of 2024, the average premium for full coverage homeowners insurance is around $13,323, more than $3,000 more than the Florida average. As Florida insurance rates have surged by as much as 42% around the state, West Palm Beach residents have not been able to offset these costs as insurance companies worry about hurricanes and the rebuilding costs. 

Residents Are Leaving

Like many residents, James and Laura Molinari left Chicago in 2019 and relocated to West Palm Beach, hoping for a more relaxed way of life. However, when they learned that their insurance costs were doubling on their $3.5 million home, they did what thousands of other residents are doing and put their house up for sale. Other residents are simply dropping insurance coverage altogether and taking the risk. 

4. Hollywood, Florida

With costs jumping from $13,834 to $14,115 between 2023 and 2024, there is no question that Hollywood, Florida is yet another city suffering from surging insurance costs. The average premium increase was a whopping 31% for most homeowners, a not-so-insignificant cost for many of whom are 65 and over and on fixed income. 

Insurance Company Costs

A primary reason for rising costs in Hollywood, Florida, is that “reinsurance” costs have dramatically increased. These costs are what insurance companies charge customers to protect themselves if there are major catastrophic losses in the state and payouts move toward the billions. Hollywood residents’ best hope is to consider bundling coverage and saving. 

3. Fort Lauderdale, Florida

Fort Lauderdale, Florida, is one of the state’s biggest risers in homeowners insurance. With an average premium of $15,484 for full coverage, this is thousands higher than the state average of $10,996, already $3,700 higher than the second most expensive state. Fort Lauderdale residents suffer from natural disaster concerns, which drives up costs. 

Car Insurance Is Rising

Another unfortunate reality for residents of Fort Lauderdale, alongside homeowners insurance, is car insurance. Rising 24% year over year, the average cost for coverage is now $2,553, which is described as a direct tie to an increase in weather-related disasters where cars have been damaged by falling trees or flood damage due to storms. 

2. Hialeah, Florida

A suburb of Miami, Hialeah is another city considered “Very High” risk by FEMA, which means that rising insurance costs are expected. As a result, the city saw an increase due to potential natural disaster hazards. This means the average annual premium jumped from $17,606 to $18,252 between 2023 and 2024. 

Surging Rates

With home insurance rates in Florida surging as much as 42% in 2024 alone, this greatly affected the Hialeah area and its residents. There is no question that Hialeah is on track to take over from Miami as the nation’s most expensive average home insurance rates. The best hope for residents is to look at companies like Geico or AllState where bundling options could lead to savings. 

1. Miami, Florida

Unsurprisingly, Miami is the worst city in the country in terms of homeowners insurance. Between 2023 and 2024, the annual premium in Miami alone increased from $16,717 to $16,886, making it one of the most expensive rates in the country. Unsurprisingly, Miami is seeing rising rates due to concerns over hurricanes, which have already caused multiple insurers to leave the state. 

Car Insurance Too

An annual average cost of $3,483 for full coverage confidently makes Miami the second most expensive city in the country for car insurance. Customers’ best hope to reduce costs is to bundle their policies and receive as much as 18% in potential savings. 

 

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