The most expensive states for homeowners insurance

These are the ten most expensive states for homeowners insurance.

Even though Florida hasn't been hit by a major hurricane in over a decade, it's still the most expensive state to insure a home by a wide margin. The National Association of Insurance Commissioners recently unveiled the top 10 most expensive states for homeowners insurance, based on the average annual bill homeowners pay in each state. Florida, due to its heightened risk of hurricanes, was situated firmly on top, with its average bill amounting to twice the national average at $2,115 a year.

Florida's homeowner's insurance is an increase over the $2,084 average rate from last year. Texas, Louisiana, Oklahoma and Mississippi round out the top five. Between 1985 and 2014, Floridians endured $68 billion in catastrophic losses. A high number of claims, such as those reported in Florida during this time period,  can drive up insurance prices for policyholders. Also, Florida is still at risk for catastrophic hurricanes, so these rates have remained high despite the lack of recent, major storms. 

While consumer advocate groups have called these rates unfair, insurance companies have contended that third parties such as contractors and attorneys contribute to this figure by artificially inflating claims. These claims raise rates even after a storm has come and gone. 

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