US Home Insurance Market Shows Signs of Stabilisation
Int’l Desk: The US home insurance market is showing clearer signs of settling after several years of steep rate hikes and limited availability. Data from the first half of 2026 points to slower premium growth and a return of competition among carriers, according to a mid-year analysis from digital insurance platform Matic.
Nationally, premiums on newly written home policies rose 5.9 percent compared with the prior year. That continues a steady cooling from the peak of 18.7 percent growth recorded in 2024. Renewal increases also eased, averaging 10.6 percent in the first six months of 2026, down from 19.4 percent a year earlier and 28 percent in 2024. Most notably, a record 11.7 percent of homeowners renewing their coverage saw their premiums drop. That share stood at 7.4 percent in 2025 and just 4.9 percent in 2024.
Homeowners also found more options when shopping. The average number of quotes available per person climbed 27 percent from 2025 levels. Ben Madick, chief executive and co-founder of Matic, described the shift as a market that is beginning to look different. After years of tighter underwriting rules and higher prices aimed at restoring profitability, many carriers are now relaxing restrictions and competing more actively for business.
The changes do not erase ongoing challenges. Insurers still face pressure from frequent and costly weather events, including severe convective storms, winter weather, flooding and wildfires, even without major hurricane landfalls in 2025. Those losses continue to shape how companies evaluate risk and set prices. Average premiums for new policies currently sit around $2,057, remaining elevated after the multi-year run-up.
Several states, including New York, Wisconsin, Missouri, Oregon and Colorado, showed nearly flat or declining average premiums in the data. While the majority of policyholders are still paying more than a year ago, the moderation and increased competition offer some relief after a prolonged hard market.
