A homeowner in Indiana has been left concerned after her insurance costs soared far beyond what she expected.
That comes as experts have been warning of a troubling national trend as climate risks push rates higher.
What's happening?
Alessandra Souers, who owns a 120-year-old house in Indianapolis, told the Daily Journal her annual State Farm premium has climbed from $1,397 to $2,415 since 2018 — a 73% increase.
She said she's reluctant to shop around due to how difficult it was to find an insurer willing to cover her historic home in the first place.
"I think insurance companies are betting on that mentality — especially for homeowners with limited options — and taking advantage of it," she explained.
She suggested that insurers believe customers are "locked in," and that companies might be thinking, "How far can we push this before the cost outweighs the aggravation of starting over?"
Stay warm all winter long with the Apple of intelligent space heaters Kelvin is the Apple of space heaters, designed for energy efficiency and maximum comfort. It's completely silent and intelligently controlled, with setup taking just 5 minutes. Built from premium materials like aluminum and glass, Kelvin works beautifully as a full-home heating system or as the perfect solution for that one room that never feels warm enough. |
All around the country, premiums for home insurance are climbing faster than inflation.
That's fueled by extreme weather, higher construction costs, and more frequent claims.
According to the U.S. Department of the Treasury's Federal Insurance Office, homeowners in high-risk areas pay an average of 82% more than those in lower-risk areas.
Why are rising insurance costs concerning?
Experts are blaming worsening storms, wildfires, and other severe weather events — driven in part by humans creating heat-trapping pollution by burning coal, oil, and gas — for the rising rates.
TCD Picks » Stasher Spotlight
💡Stasher's reusable food storage options make it easy and affordable to live life with less plastic
|
How much money do you plan to spend on home improvement projects this year? Click your choice to see results and speak your mind. |
Under $1K 😎 More intense storms mean more expensive and frequent damage, leaving insurers to raise rates or drop coverage entirely.
For example, in Indiana, tornado activity has spiked, with 61 tornadoes in 2024 and 44 already reported in 2025, according to the Daily Journal.
These kinds of events strain the insurance market, and when coverage becomes unaffordable or unavailable, families are left vulnerable.
Rising premiums especially threaten low-income and older homeowners, who may risk going without coverage entirely, putting their homes — and generational wealth — on the line.
What's being done about rising insurance costs?
Some states are exploring insurance market reforms and investments in resilience to keep premiums a bit more balanced.
Homeowners can also take some steps to lower their risks, such as reinforcing roofs, trimming trees, and installing storm shutters. These proactive measures may lower their risk level in the eyes of insurance companies while also protecting against costly damages.
On a broader scale, reducing planet-overheating pollution is necessary for curbing extreme weather.
Efforts like expanding renewable energy, supporting climate-resilient infrastructure, and restoring natural buffers (like wetlands and mangroves) can reduce disaster damage in the first place.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
