For years, homeowners focused on mortgage rates, down payments, and property taxes when calculating the cost of owning a home. Now, another expense demands much more attention. Home insurance has become a larger piece of the monthly housing puzzle, and many homeowners feel the impact every time they review their budget.
According to a recent report from Matic, home insurance now accounts for about 9% of the typical homeowner’s monthly mortgage payment, the highest share on record. Premium growth slowed compared to previous years, but costs remain elevated, creating a new challenge for households trying to balance rising expenses.
