ICE Mortgage Monitor: Property Insurance Costs Rose at a Record Rate in 2024 Prompting Homeowners to Shop for Better Rates, Accept Higher Deductibles
ICE's March 2025 Mortgage Monitor Report reveals significant increases in property insurance costs for mortgaged single-family homes. The average annual premium rose by a record $276 (+14%) to $2,290 in 2024, culminating in a five-year increase of $872 (+61%).
Key regional variations show Seattle and Salt Lake City experiencing the highest percentage increases (+22% each), while Dallas (+$606) and Houston (+$515) saw the largest dollar amount increases. Florida's premiums, despite rising less than half the national average percentage-wise, remain among the country's highest.
Notable trends include a record 11.4% of borrowers switching insurance carriers in 2024, up from 9.4% in 2023. Miami led with nearly 25% of mortgage holders switching providers. New borrowers are adopting higher deductibles, averaging 19% ($390) more than typical mortgage holders, while securing 12% ($284) lower annual premiums than the market average.
Il Rapporto Mortgage Monitor di ICE di marzo 2025 rivela un significativo aumento dei costi delle assicurazioni immobiliari per le case unifamiliari ipotecate. Il premio medio annuale è aumentato di un record di $276 (+14%) raggiungendo i $2,290 nel 2024, culminando in un incremento di cinque anni di $872 (+61%).
Le principali variazioni regionali mostrano che Seattle e Salt Lake City hanno registrato i più alti aumenti percentuali (+22% ciascuna), mentre Dallas (+$606) e Houston (+$515) hanno visto i maggiori aumenti in termini di importo. I premi in Florida, nonostante siano aumentati meno della metà della media nazionale in termini percentuali, rimangono tra i più alti del paese.
Tendenze notevoli includono un record dell'11.4% di mutuatari che cambiano compagnia assicurativa nel 2024, in aumento rispetto al 9.4% del 2023. Miami ha guidato con quasi il 25% dei mutuatari che cambiano fornitore. I nuovi mutuatari stanno adottando franchigie più elevate, in media del 19% ($390) superiori a quelle dei mutuatari tipici, mentre ottengono premi annuali inferiori del 12% ($284) rispetto alla media di mercato.
El Informe Mortgage Monitor de ICE de marzo de 2025 revela aumentos significativos en los costos del seguro de propiedad para casas unifamiliares hipotecadas. La prima anual promedio aumentó un récord de $276 (+14%) alcanzando los $2,290 en 2024, culminando en un aumento de cinco años de $872 (+61%).
Las variaciones regionales clave muestran que Seattle y Salt Lake City experimentaron los mayores aumentos porcentuales (+22% cada una), mientras que Dallas (+$606) y Houston (+$515) vieron los mayores aumentos en términos de cantidad. Las primas de Florida, a pesar de haber aumentado menos de la mitad del promedio nacional en términos porcentuales, siguen siendo de las más altas del país.
Tendencias notables incluyen un récord del 11.4% de prestatarios que cambian de aseguradora en 2024, frente al 9.4% en 2023. Miami lideró con casi el 25% de los titulares de hipotecas cambiando de proveedor. Los nuevos prestatarios están adoptando deducibles más altos, promediando un 19% ($390) más que los titulares de hipotecas típicas, mientras aseguran primas anuales un 12% ($284) más bajas que el promedio del mercado.
ICE의 2025년 3월 모기지 모니터 보고서는 담보가 설정된 단독 주택의 재산 보험 비용이 크게 증가했음을 보여줍니다. 평균 연간 보험료는 기록적으로 $276 (+14%) 증가하여 2024년에는 $2,290에 도달했으며, 5년간 총 $872 (+61%)의 증가를 보였습니다.
주요 지역별 변동을 살펴보면 시애틀과 솔트레이크시티가 각각 +22%로 가장 높은 비율 증가를 기록했으며, 달라스(+$606)와 휴스턴(+$515)은 가장 큰 금액 증가를 보였습니다. 플로리다의 보험료는 전국 평균 비율의 절반도 안 되는 상승률을 보였지만 여전히 미국에서 가장 높은 수준을 유지하고 있습니다.
주목할 만한 경향으로는 2024년에 보험사를 변경한 대출자의 비율이 기록적인 11.4%로 증가했으며, 이는 2023년의 9.4%에서 상승한 수치입니다. 마이애미는 거의 25%의 모기지 보유자가 공급자를 변경한 것으로 나타났습니다. 신규 대출자는 평균 19%($390) 더 높은 공제액을 선택하고 있으며, 시장 평균보다 12%($284) 낮은 연간 보험료를 확보하고 있습니다.
Le Rapport Mortgage Monitor d'ICE de mars 2025 révèle des augmentations significatives des coûts d'assurance immobilière pour les maisons unifamiliales hypothéquées. La prime annuelle moyenne a augmenté de $276 (+14%) pour atteindre $2,290 en 2024, culminant à une augmentation de cinq ans de $872 (+61%).
Les variations régionales clés montrent que Seattle et Salt Lake City ont connu les plus fortes augmentations en pourcentage (+22% chacune), tandis que Dallas (+$606) et Houston (+$515) ont enregistré les plus fortes augmentations en montant. Les primes de la Floride, bien qu'ayant augmenté de moins de la moitié de la moyenne nationale en pourcentage, restent parmi les plus élevées du pays.
Parmi les tendances notables, on note un record de 11,4% des emprunteurs changeant d'assureur en 2024, contre 9,4% en 2023. Miami a été en tête avec près de 25% des emprunteurs hypothécaires changeant de fournisseur. Les nouveaux emprunteurs adoptent des franchises plus élevées, en moyenne 19% ($390) plus élevées que celles des emprunteurs typiques, tout en obtenant des primes annuelles 12% ($284) inférieures à la moyenne du marché.
ICEs Hypothekenmonitor-Bericht vom März 2025 zeigt erhebliche Kostensteigerungen bei der Immobilienversicherung für hypothekarisch gesicherte Einfamilienhäuser. Die durchschnittliche Jahresprämie stieg um einen Rekord von $276 (+14%) auf $2,290 im Jahr 2024, was zu einem fünfjährigen Anstieg von $872 (+61%) führte.
Wichtige regionale Unterschiede zeigen, dass Seattle und Salt Lake City die höchsten prozentualen Zuwächse (+22% jeweils) verzeichneten, während Dallas (+$606) und Houston (+$515) die größten absoluten Zuwächse aufwiesen. Die Prämien in Florida sind, obwohl sie prozentual weniger als die Hälfte des nationalen Durchschnitts gestiegen sind, weiterhin unter den höchsten im Land.
Bemerkenswerte Trends sind ein Rekord von 11,4% der Kreditnehmer, die die Versicherungsgesellschaft wechseln im Jahr 2024, ein Anstieg von 9,4% im Jahr 2023. Miami führte mit fast 25% der Hypothekenschuldner, die den Anbieter wechselten. Neue Kreditnehmer nehmen höhere Selbstbehalte in Anspruch, die im Durchschnitt 19% ($390) über dem typischer Hypothekenschuldner liegen, während sie 12% ($284) niedrigere jährliche Prämien als der Marktaverage sichern.
- New borrowers achieving 12% lower premiums through higher deductibles
- Borrowers in Jacksonville, Dallas, San Antonio and Denver saved 10%+ by switching carriers
- Record 14% increase in average annual property insurance premiums
- 61% surge in insurance premiums over past 5 years (+$872)
- Significant premium increases in major markets (Dallas +$606, Houston +$515)
- California borrowers switching providers paid 15%+ more than those who stayed
-
The average annual property insurance premium among mortgaged single-family homes rose by a record
+ (+$276 14% ) to in 2024, capping a five-year rise of$2,290 + (+$872 61% ) -
Seattle (+22% ),Salt Lake City (+22% ) andLos Angeles (+20% ) saw the largest percentage increases in 2024, while the largest increases by dollar amount were inDallas (+ ) and$606 Houston ( )$515 -
Property insurance premiums in
Florida increased by less than half the national average on a percentage basis, but rates there remain among the highest in the country -
A record
11.4% of borrowers switched carriers in 2024, up 2 percentage points from 2023, likely due to a combination of rising nonrenewal activity and borrowers shopping for lower premiums -
Homeowners are opting for higher deductibles in exchange for premium savings, with new borrowers having
19% ( ) higher deductibles and$390 12% ( ) lower premiums than the market at large$284
Property insurance costs for mortgaged single-family homes rose by a record
“While it’s no surprise that insurance costs are rising, we’re beginning to see emerging trends in terms of how homeowners are responding to the higher cost environment,” said Andy Walden, Head of Mortgage and Housing Market Research for Intercontinental Exchange. “We’re seeing increases in both the share of borrowers switching policies and borrowers taking on higher deductibles as a way to combat rising premiums.”
“ICE loan-level data shows that a record
Markets with the highest insurance costs, which have also been the focal point of non-renewal activity in recent years, unsurprisingly have the highest percentage of borrowers switching providers. Nearly a quarter of mortgage holders in
“The average borrower switching policies in
“California, where insurers have been reducing their footprint due to strict regulations and rising wildfire risk, stands out as a notable exception,” Walden said. “Borrowers who switched providers in
Separate research from the ICE Climate team suggests borrowers taking out mortgages in recent years may also be taking on higher deductibles to help offset rising premiums. Homeowners who took out mortgages in 2024, for example, had a
“As borrowers become more interested in shopping for the best insurance rates, there is an emerging opportunity for lenders and servicers to meet this need with embedded insurance comparison tools both at the front end of the pipeline and for people with existing mortgages,” Walden said. “ICE’s integrations with insurance providers in both our origination and servicing platforms have been aimed at exactly this opportunity as part of our continuing goal of making home finance as simple and transparent as possible.”
Further information on this and other topics can be found in this month’s Mortgage Monitor.
About Mortgage Monitor
ICE manages the nation’s leading repository of loan-level residential mortgage data and performance information covering the majority of the overall market, including tens of millions of loans across the spectrum of credit products and more than 160 million historical records. The combined insight of the ICE Home Price Index and Collateral Analytics’ home price and real estate data provides one of the most complete, accurate and timely measures of home prices available, covering
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Source: Intercontinental Exchange
Category: Mortgage Technology
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Source: Intercontinental Exchange