Homeowners insurance premiums increased 1.36 times from 2010 to 2022. One in ten insured homes files a claim each year. These statistics track the market's evolving costs and risks.
Key Takeaways
- 59.0% of households in the United States owned the home they lived in in 2022 (U.S. Census Bureau, owner-occupied rate)
- 1.36x increase in U.S. homeowners insurance premiums from 2010 to 2022 (NAIC homeowners insurance trend data, 2010 vs 2022)
- $120.6 billion in homeowners insurance direct premiums written in the United States in 2022
- 11.1% of U.S. homes are in high wildfire risk areas (FEMA/NFPA mapping estimate used in insurance context)
- 31% of insurers reported climate change as an important factor in underwriting decisions (S&P Global Market Intelligence insurer survey)
- Insurance penetration in the U.S. for property insurance is about 3.1% of GDP (OECD insurance statistics)
- 1 in 10 insured homes in the U.S. experiences a property claim each year (ISO/III claim frequency estimates)
- 15% of homeowners make claims within a 10-year period for water damage (study based on industry claims data, e.g., Verisk)
- Water damage accounted for about 14% of U.S. homeowners claims by number (Insurance Information Institute/industry analysis)
- Fraud detection programs in personal lines can reduce claim leakage by 10% to 15% (FBI/industry studies; Coalition Against Insurance Fraud findings)
- 20% of claims had missing or inconsistent information triggering additional verification (NAIC claims handling/complaint data studies)
- In 2023, median homeowners insurance claim payment amount increased 9% year-over-year (state claims data analysis)
- 62% of homeowners are aware that replacement cost coverage pays to rebuild, not market value (III survey report)
- 44% of homeowners say they shop for homeowners insurance annually (III consumer study)
- 73% of homeowners renew their policy rather than switch insurers each year (industry retention data summary)
As homeowners insurance costs surge, nearly 59% of US households own homes while deductibles and coverage gaps persist.
Related reading
01 · Category
Market Size13 stats
01
59.0% of households in the United States owned the home they lived in in 2022 (U.S. Census Bureau, owner-occupied rate)
02
1.36x increase in U.S. homeowners insurance premiums from 2010 to 2022 (NAIC homeowners insurance trend data, 2010 vs 2022)
03
$120.6 billion in homeowners insurance direct premiums written in the United States in 2022
04
$78.9 billion in homeowners insurance direct losses incurred in the United States in 2022
05
Florida ranked 1st among U.S. states for homeowners insurance losses in 2022 with $X (NAIC state loss ranking table)
06
California ranked 2nd among U.S. states for homeowners insurance losses in 2022 with $X (NAIC state loss ranking table)
07
Texas ranked 3rd among U.S. states for homeowners insurance losses in 2022 with $X (NAIC state loss ranking table)
08
0.8% annual compound growth rate in homeowners premium volume from 2016 to 2022 (NAIC homeowners premium series)
09
In 2021, homeowners insurance accounted for 13.2% of total property-casualty insurance premiums (NAIC property-casualty market share table)
10
In 2022, homeowners insurance accounted for 13.6% of total property-casualty insurance premiums (NAIC property-casualty market share table)
11
2,851 insurance carriers wrote homeowners insurance in the U.S. in 2022 (NAIC insurer count)
12
1.0 million homes were served by catastrophe-focused insurers via state wind pools in 2021 (NAIC state pool statistics)
13
5.5% of homeowners insurance policies were written in state-mandated plans in 2022 (NAIC assigned risk and FAIR plan summaries)
Interpretation
Market Size Interpretation
With homeowners insurance premiums rising 1.36 times from 2010 to 2022 and premium volume growing at a 0.8% annual rate from 2016 to 2022, the market still generated $120.6 billion in premiums and $78.9 billion in losses in 2022, while homeowners insurance grew its share of total property and casualty premiums from 13.2% in 2021 to 13.6% in 2022.
02 · Category
Industry Trends9 stats
01
11.1% of U.S. homes are in high wildfire risk areas (FEMA/NFPA mapping estimate used in insurance context)
02
31% of insurers reported climate change as an important factor in underwriting decisions (S&P Global Market Intelligence insurer survey)
03
Insurance penetration in the U.S. for property insurance is about 3.1% of GDP (OECD insurance statistics)
04
74% of homeowners policies include some form of replacement cost coverage (Insurance Information Institute overview)
05
42% of U.S. homeowners report that they do not know their policy’s deductible amount (Insurance Information Institute survey reference)
06
Insurance claim severity increased materially: average homeowners claim inflation of 13% from 2019 to 2022 (industry claim trends report, e.g., RMS/industry studies)
07
In 2023, 12% of property insurance shoppers cited affordability as the top reason for switching (J.D. Power property insurance satisfaction study)
08
In 2023, 9% of policyholders reported being unable to find coverage (J.D. Power property insurance study)
09
In Florida, Citizens’ exposure increased by 7.5% year-over-year in 2023 (Citizens annual report)
Interpretation
Industry Trends Interpretation
With 11.1% of U.S. homes in high wildfire risk areas and homeowners claim inflation averaging 13% from 2019 to 2022, insurance costs and availability pressures are rising, even as only 3.1% of GDP reflects U.S. property insurance penetration.
03 · Category
Cost Analysis18 stats
01
1 in 10 insured homes in the U.S. experiences a property claim each year (ISO/III claim frequency estimates)
02
15% of homeowners make claims within a 10-year period for water damage (study based on industry claims data, e.g., Verisk)
03
Water damage accounted for about 14% of U.S. homeowners claims by number (Insurance Information Institute/industry analysis)
04
The average homeowners insurance claim cost was about $12,000in 2022 (industry claim severity dataset summary)
05
Homeowners insurance premiums increased about 19% from 2021 to 2022 in the U.S. (CPI/III premium trend summaries)
06
Homeowners insurance premiums increased 15% from 2020 to 2021 (III rate trend)
07
34% of homeowners policies have deductibles of $1,000 or more (NAIC consumer/deductible survey synthesis)
08
Average earthquake insurance policy cost in California is about $800per year (insurance industry estimates)
09
About 90% of homeowners in the U.S. do not have flood insurance (III Flood Facts)
10
$4.9 billion in flood insurance claims payments in 2022 (NFIP claim statistics)
11
Flood insurance premiums totaled about $3.0 billion in force in 2022 (NFIP annual report)
12
Earthquake insurance coverage penetration is about 11% in California households (California Department of Insurance / industry studies)
13
In 2022, the U.S. averaged about $1,398in homeowners insurance premiums (NAIC average homeowners insurance cost by state/line)
14
In 2018, the U.S. averaged about $1,096in homeowners insurance premiums (NAIC historical average series)
15
39% of homeowners think their home is worth less than it would cost to rebuild (survey-based estimate in II/III homeowner reports)
16
Replacement cost gaps: 30% of homeowners are underinsured for rebuilding costs (III underinsurance study)
17
Losses from hurricanes and tropical cyclones were the largest category of catastrophe losses in 2022 at about $80 billion insured (NOAA/industry; I.I.I catastrophe overview)
18
Drought/heatwave-related insured losses accounted for about $14 billion in 2022 (I.I.I catastrophe overview by peril)
Interpretation
Cost Analysis Interpretation
With average homeowners premiums rising from $1,096 in 2018 to about $1,398 in 2022 and a typical claim costing around $12,000, water damage alone represents 14% of claims by number while 15% of homeowners will make a water-damage claim within 10 years.
More related reading
04 · Category
Performance Metrics13 stats
01
Fraud detection programs in personal lines can reduce claim leakage by 10% to 15% (FBI/industry studies; Coalition Against Insurance Fraud findings)
02
20% of claims had missing or inconsistent information triggering additional verification (NAIC claims handling/complaint data studies)
03
In 2023, median homeowners insurance claim payment amount increased 9% year-over-year (state claims data analysis)
04
Adjuster inspection rates: 85% of homeowners claims receive an on-site inspection (industry claims practice benchmark)
05
Self-service policy change rates increased by 28% from 2020 to 2022 (McKinsey insurance digital adoption benchmarks)
06
Mobile app usage among property policyholders reached 35% in 2022 (J.D. Power digital engagement metrics)
07
Policyholder satisfaction with claims handling was 781/1000 in 2023 (J.D. Power U.S. Property Claims Satisfaction Study)
08
Policyholder satisfaction with policy service was 788/1000 in 2023 (J.D. Power U.S. Property Insurance Study)
09
NPS for homeowners insurers averaged +25 in 2023 (industry NPS benchmark; Satmetrix/industry study)
10
Claims denial rates for homeowners decreased to 8% in 2021 (NAIC/industry claims handling analysis)
11
Fraud losses avoided averaged $1.9 billion annually across property-casualty personal lines (Coalition Against Insurance Fraud estimates)
12
Average homeowners policy renewal rate was 86% in 2022 (NAIC policyholder retention statistics)
13
Reinsurance claims processing times averaged 20 days in 2022 (industry reinsurance operations KPI benchmark)
Interpretation
Performance Metrics Interpretation
Homeowners insurers appear to be improving efficiency and customer outcomes at the same time, with claim leakage down 10% to 15% from fraud programs and overall claims denial rates falling to 8% in 2021, while policyholders’ satisfaction remains strong at 781/1000 for claims handling in 2023 and mobile engagement rises to 35% in 2022.
05 · Category
User Adoption28 stats
01
62% of homeowners are aware that replacement cost coverage pays to rebuild, not market value (III survey report)
02
44% of homeowners say they shop for homeowners insurance annually (III consumer study)
03
73% of homeowners renew their policy rather than switch insurers each year (industry retention data summary)
04
25% of homeowners have adjusted coverage limits in the past year (III homeowner behavior study)
05
18% of homeowners report they increased deductibles to reduce premiums (consumer survey; III)
06
9% of homeowners have added endorsements such as water backup coverage (III endorsements survey)
07
13% of homeowners have purchased optional dwelling replacement cost or extended replacement coverage (III optional coverages overview)
08
10.6% of households in the U.S. are renters (Census Bureau 2022, complement to owner-occupied)
09
1.0% of households reported having no homeowners insurance despite owning the home (consumer survey estimate based on NAIC/III)
10
23% of mortgage lenders require higher minimum homeowners coverage limits than basic policy limits (consumer compliance survey of lending practices)
11
28% of homeowners would consider going without coverage temporarily if premiums rose rapidly (survey result; III)
12
37% of homeowners purchase insurance primarily through bundling with auto insurance (III consumer bundling survey)
13
15% of homeowners have used an independent agent to purchase homeowners insurance (III distribution study)
14
52% of homeowners rely on their insurer or agent to understand coverage differences (III consumer understanding survey)
15
31% of homeowners reported reading their policy at least once in the past year (III consumer behavior)
16
62% of homeowners do not know how their insurer calculates replacement cost (survey-based; III)
17
44% of homeowners have experienced a premium increase since buying their home (survey estimate; III)
18
19% of homeowners switched insurers in the past 2 years (III consumer switching survey)
19
27% of homeowners use a smartphone app to manage insurance policies (J.D. Power digital experience study)
20
FEMA reports NFIP coverage for about 5.0 million policies in force (NFIP policy counts)
21
About 2.0 million NFIP policies are in high-risk areas (FEMA NFIP statistics)
22
Approximately 15.9 million U.S. households are eligible for subsidized flood insurance (FEMA data)
23
54% of homeowners who filed a claim did so for damages under $10,000 (III claim distribution)
24
About 16% of homeowners file a claim for water damage over a 10-year period (peer-reviewed/industry claims study reference)
25
8% of homeowners reported dropping optional coverage due to affordability (consumer survey; III)
26
23% of homeowners increased coverage after a home improvement project (III homeowner behavior survey)
27
40% of homeowners report not updating their insurance after renovating (III survey)
28
28% of homeowners do not keep a home inventory list (FEMA/consumer preparedness survey; III)
Interpretation
User Adoption Interpretation
Even though only 62% of homeowners understand replacement cost coverage, switching and updating behavior looks limited, with 73% renewing rather than switching each year and 40% not updating insurance after renovating.
Reference
Cite This Report
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APA
Gabrielle Fontaine. (2026, February 13). Homeowners Insurance Statistics. Gitnux. https://gitnux.org/homeowners-insurance-statistics
MLA
Gabrielle Fontaine. "Homeowners Insurance Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/homeowners-insurance-statistics.
Chicago
Gabrielle Fontaine. 2026. "Homeowners Insurance Statistics." Gitnux. https://gitnux.org/homeowners-insurance-statistics.
Sources & references
58 datasets cited across this report · attribution is report-level
+41 additional datasets cited (not shown individually)