Homeowners insurance in Southern California is under pressure as 7 of the 12 largest insurers have exited the state. Insurers are also leaving Louisiana and Florida due to increasing billion-dollar disasters, which have surged from an average of 3.3 per year in the 1980s to 24.3 annually in recent years. Nationwide, premiums have risen 33% over the past three years, with the average policy now costing $2,530 annually, and significantly more in high-risk areas like California. Insurers are raising premiums across the board to address these escalating costs.

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