Home Insurance Premiums Now Exceed Property Taxes in Two-Thirds of US Counties, Bloomberg Intelligence Finds

Home insurance premiums now exceed average property-tax bills in two-thirds of US counties, Bloomberg Intelligence reported Monday, underscoring insurance's role in the household affordability crunch ahead of next month's midterm elections. County-level homeowner policies have risen an inflation-adjusted 45% over the past decade, with Nebraska up 79%. Adding extreme-weather-related auto premiums, combined insurance costs top property taxes in 75% of counties. Homeowners pay a county-average 14% more for insurance than property tax, or 30% with auto included. Colorado, Utah and Minnesota lead hail- and winter-driven increases; Southeastern states with low property taxes see premiums at 2.5 to 4 times the levy. The analysis, drawing on Census, state regulator and federal weather data, notes the federal share of disaster recovery is shifting toward a 50-50 split with local governments — after the January 2025 Los Angeles fires, California spent $3.5 billion versus $2.6 billion in federal aid. Rising deductibles and 2025 disaster losses averaging $156 billion are expected to pressure municipal bonds.