Homeowners in Western and Central states faced the steepest hikes over the past five years, but they don’t pay the highest rates.

Homeowners insurance is much more expensive than renters insurance, which costs between $14 and $30 per month. With average annual premiums of around $1,900 for homeowners insurance, you might be ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Scott Olson / Getty Image Insurers ...