By Citizens Insurance

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More severe weather
There have been 18 weather/climate disaster events in the U.S. in 2021 with losses exceeding $1 billion in damage. The increase in severe weather caused 39% of all U.S. home insurance claims.
Higher Material Costs
With the cost of of building materials up an average 26%, homes have become more expensive to fix and replace.
Increased shipping costs and delays
The pandemic has impacted almost every part of the global supply chain causing shipping delays and higher prices. 95% of fortune 1000 companies have reported supply chain disruptions from Covid-19.
More fire damage
Newer homes burn more nearly 6x faster than older ones due to the use of synthetic materials and open-floor plans, resulting in more total losses from fire and higher rebuild costs.
Higher labor costs
Nearly 90% of contractors are having a hard time finding craft workers and 88% of firms are experiencing project delays. Higher labor costs drive up the price of materials leading to a rise in home insurance.
Bigger, upscale homes
Home interiors have become more upscale with custom cabinetry, hardwood floors, finished basements and more, leading to higher replacement costs when damages arise.
Increase in water damage
Water damage and freezing losses have increased by more than 10% from 2017 to 2019.