Average Homeowners Insurance Premium
And Increases from 2002 to 2007

From "Managing Large-Scale Risks in a New Era of Catastrophes," March 2008, the Wharton School at the University of Pennsylvania, page v.

http://opim.wharton.upenn.edu/risk

Florida has experienced the greatest absolute increase in the average homeowners premium among the four states studied (Florida, New York, South Carolina and Texas), from $723 at the start of 2002 to $1,465 in the first quarter of 2007. In coastal areas, premiums have tripled or even quadrupled for some homeowners.

Nevertheless, at the end of 2006, insurers had a $11.6 billion cumulative deficit on their Florida’s homeowners business based on the period 1992-2006. Higher insurance premiums, coupled with no hurricane losses in 2007 in Florida have improved insurers’ long-term performance, but companies are still extremely concerned about the future of their operations in this state.”