Why are home insurance premiums jumping?

Home insurance premiums are rising mainly because insurers are pricing in more frequent and more severe storm and flood losses across the coastal Southeast, and reinsurance costs that insurers themselves pay have climbed as a result. Some insurers have also pulled back from writing new policies in the highest-risk coastal zones, which reduces competition and pushes remaining quotes higher. Building material and labor costs for repairs have risen too, which raises the cost an insurer expects to pay out on a claim. Brian Beatty can point a Lowcountry buyer or owner toward agents who shop multiple carriers for a specific property.