Highly Expensive Home Insurance – The 10 Most Expensive Home Insurance Countries

High-cost home insurance punishes everyone, but it really has a negative impact in states where there are many different types of losses.

The concept of insurance was created to spread the risk of loss among a large group of people, so that each person bears a small part of the risk. So, when we discuss the kinds of risks that drive up homeowners insurance costs, that means that the person who pays premiums for their home in upper Michigan is partially subsidizing the person who has a home on the Louisiana coast.

Hurricanes and hurricanes are nothing but big wind storms. But it’s not the only catastrophes that make insurance premiums soar. Fire, hail, and flooding drive up premiums, and insurance companies pay more claims each year for the smaller risks combined than for hurricanes.

Mold is one big risk that insurance companies no longer fear. Until 2003, policyholders filed nearly as many mold claims each year as fire claims. The trend in mold claims has been on the rise. But after the tragedy of September 11, 2001, insurers quietly persuaded all of America’s insurance commissioners to allow them to rule out mold claims for coverage.

But even though insurance companies have eliminated most mold exposures, they still have to insure other risks to homes. So, here are the 10 most expensive countries for home insurance. We’ll start with the lowest, and move to number one.

10. KS – Author Frank Baum put “The Wizard of Oz” in Kansas for a good reason… It’s considered “Tornado Alley.”

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