image credit: Vecteezy

Revealed – who is being disproportionately impacted by rising home insurance rates?

July 23, 2021

Rising home insurance premiums disproportionately impact seniors and homeowners with low credit scores, according to a new study from insurtech platform Matic.

Matic’s mid-year survey reviewed trends from 45,000 policies and 3.2 million quotes. It found that home insurance premiums grew an average of 4% year over year. The survey found that increasing home insurance premiums disproportionately affects those with FICO scores below 580 – as homeowners with this factor saw the largest increase in premiums at an average of 6.4%.

Read More on Insurance Business