“If I see somebody that has a 20% increase I think that’s good,” said Brard. “But it’s not uncommon to see a 50% or 100% increase.”

So why exactly are insurance rates climbing so high? Brard said its a combination of things. Inflation, higher labor costs and all the natural disasters last year.

“The insurance industry in 2023 had 23 separate catastrophic crises that resulted in over a billion dollars from the insurance collective,” said Brard. “Think about Lahiana, a huge loss and all the major carriers were there. Think about California and all the wildfires they had. Think about Northern Arizona, we have a ton of wildfires.”

Things have gotten so bad that two major insurance carriers have suspended writing policies, while other companies are refusing to insure certain customers because they live in a fire district or flood zone that’s considered too high risk.

All homeowners can do is shop around for the best rate and hope there are fewer catastrophes this year. “You just have to bite the bullet and do it,” said Conner.”