Examining Homeowner Property Insurance Market Dynamics
An Assessment of Countrywide State-Level Data from 2018 to 2024
New research based on seven years of state-collected Market Conduct Annual Statement (MCAS) data provides the first comprehensive, state-level look at the U.S. homeowners insurance market in years.
The report finds that the market remains operationally strong overall, even as insurers pull back in specific places and consumers in those areas feel real cost and availability pressure. This report offers a look at how homeowner market data including premiums and non-renewal rates vary from region to region, providing insight that national averages don’t account for.
Key Findings
The Market is Operationally Strong
Consumer Concerns Reflect Real Market Pressure
Signs of Stress Are Emerging
Insurance Markets Are Local
A New Data-Driven Baseline
Data-Driven Insights
Explore insights into premiums, claims, non-renewals, insurer participation, and other key homeowners insurance market trends.
Line chart showing the net percent change in the number of homeowners insurance carriers by U.S. region from 2018 to 2024. The Western, Northeast, and Midwest regions experienced modest growth peaking around 2021 before declining, while the Southeast region showed a continuous, steady decline across the entire seven-year period, ending at negative 4 percent.-
A map of the United States titled 'Homeowners Carriers by Zone, 2024' showing the number of insurers across four regions. The Southeast has the highest number at 365 insurers, followed by the Midwest with 328 insurers, the Northeast with 319 insurers, and the Western region with 316 insurers. The logos for ӰƵ and the Center for Insurance Policy and Research are displayed at the bottom.
Frequently Asked Questions
This report looks at homeowners insurance trends from 2018 to 2024 at the state level, including premiums, claims, policy availability, cancellations, and nonrenewals.
The market remains operationally strong overall, but it is under pressure from inflation, increased costs of construction, increasing natural catastrophes, and other market forces. In general, insurers continue to offer coverage, while costs and market challenges have increased in many areas.
Yes. Average homeowners insurance premiums increased across the country between 2018 and 2024, with some areas seeing larger increases than others.
In some areas, yes. The report found increases in insurer nonrenewals and policy cancellations, which can make coverage harder to purchase and or keep.
Insurance markets are local. Weather risks, rebuilding costs, claims, and other factors can affect prices and coverage differently from one community to another.
The data helps regulators, policymakers, and consumers better understand market conditions at the state level and identify areas where affordability, availability, or consumer protections may need attention.
The bulk of the report is the Homeowner Market Descriptive Results section, which walks through six data categories in order: Companies, Policies, Premiums, Claims, Financial Performance, and Cancellations/Non-Renewals.
- Each subsection follows the same pattern: a 2024 snapshot by ӰƵ zone (map or bar chart), followed by a 2018–2024 trend chart showing percent change from a 2018 baseline. Readers can jump to any subsection and expect the same layout.
- Data is organized by four ӰƵ zones — Northeast, Southeast, Midwest, and Western — rather than by state, since MCAS company-level data is confidential and can only be released in aggregate.
- Charts labeled “percent change from 2018” isolate the trend itself; charts labeled with a specific year (e.g., “2024 Homeowners Direct Premium Written”) show that year’s snapshot across zones.
- A few sections (Financial Performance, Cancellations and Non-Renewals) include additional state- or company-level detail — such as Arkansas and Wisconsin loss cost ratio distributions — for readers who want to see the variation underlying the zone-level averages.
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