Why Homeowners Insurance Costs Are Rising and How to Shop Smarter

In this episode of the Real Estate Update Podcast, host Paul Centopani speaks with Travis Hodges, Managing Director at VIU by HUB, about why homeowners insurance has become a growing part of housing affordability. Travis explains how climate-related losses, inflation, rising home values, supply-chain pressures, and higher rebuilding costs have made insurance risk more difficult to predict and premiums more expensive for many homeowners and buyers.The conversation also explores how a property itself can affect insurance costs and availability. Travis explains why the age and condition of the roof can play such a major role, how proximity to coastal areas, waterways, and wildfire risk may affect pricing, and why buyers should investigate insurance costs before committing to a home. He also breaks down the difference between replacement cost and actual cash value, including how choosing a policy based primarily on price could leave a homeowner responsible for a substantial portion of a future repair.Travis shares practical tips for comparing homeowners insurance, including working with a broker, requesting quotes from multiple carriers, reviewing available discounts, and considering whether bundling home and auto coverage provides better value. He also explains why insurance rates generally are not negotiable, what homeowners can do after a claim is denied, and why first-time homebuyers should give insurance shopping the same attention they give mortgage rates. The right policy is not necessarily the least expensive one, but the option that provides appropriate protection at a cost that fits the homeowner’s broader budget.Subscribe for more mortgage news, housing news, homebuyer tips, and real estate market updates.Comment below: Have rising homeowners insurance costs affected where you would consider buying a home?Connect with Mortgage Research Network:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@MortgageResearchNetwork⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/mortgageresearchnetwork/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/mtgresearchnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MortgageResearch.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with Travis Hodges:LinkedIn: https://www.linkedin.com/in/travis-hodges-b4700a11/First Time Homebuyer Cheat Sheet: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4w8CiVM⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Homebuyer Calculators: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4n0hDPv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect With a Lender: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/426Gyaw------0:00 – Intro0:17 – How an Insurance Broker Helps Homebuyers1:18 – Why Homeowners Insurance Costs Are Rising3:48 – Are Some Homes Becoming Uninsurable?4:53 – Can Insurance Affect Mortgage Approval?6:20 – Property Features That Increase Insurance Costs7:41 – How to Avoid Coverage Gaps8:56 – Replacement Cost vs. Actual Cash Value11:13 – How to Shop for Homeowners Insurance12:53 – Can You Negotiate Insurance Rates?14:02 – What to Do If a Claim Is Denied15:28 – Travis’s Advice for First-Time Homebuyers16:51 – Outro------#homeownersinsurance #firsttimehomebuyer #homebuyingtips