Tariffs and Homeowners Insurance: A Growing Concern
The impact of tariffs is being felt across the housing market, from home builders to individual homeowners. According to a forecast by insurance comparison startup Insurify, the Trump administration’s worldwide tariffs on imported goods could result in an additional $106 in home insurance premiums for American homeowners this year. By the end of the year, the average homeowner’s annual insurance premium could reach $3,626.
The effect of these tariffs is not uniform across the United States. Certain states are likely to experience more significant price hikes than others. As the housing market continues to navigate these changes, understanding the implications of tariffs on homeowners insurance becomes increasingly important for homeowners and potential buyers alike.
