Start with the actual renewal
The Treasury report studies historical homeowners insurance markets and climate-related risks. Geographic averages can explain a research question, but they do not establish why your insurer changed your policy or what a replacement will cost. Compare the actual documents for the same property and effective period. A cheaper premium can accompany a higher deductible, a lower limit or a new exclusion.
A comparison sheet for two offers
| Field | What to copy from each offer |
|---|---|
| Period and property | Effective dates, named insured, address and occupancy assumptions |
| Insured amounts | Dwelling limit, contents and any separate sublimits |
| Deductibles | Amount or percentage; which peril and limit the percentage uses |
| Exclusions | Flood, wind, wildfire or other exclusions exactly as written |
| Payment | Annual total, fees, instalments and whether the quote is binding |
| Questions | Written clarifications needed before deciding |
Keep a non-renewal notice separate from a cancellation and from a new quote. Ask the insurer or authorised adviser about the notice, applicable deadlines and replacement requirements. This worksheet does not determine whether a policy satisfies a mortgage condition or the law in a jurisdiction.
Worked example: percentage deductibles
Suppose fictional offer A costs 1,400 currency units annually with a fixed 1,000-unit deductible. Offer B costs 1,250 and states a 2% deductible calculated on a 300,000-unit dwelling limit for a specified peril. That deductible is 6,000 units, not 2% of the premium. The 150-unit annual premium difference alone does not compare those terms. The example excludes coverage differences and is not a recommendation or a real quote.
Copy the insurer’s definition of the percentage base before calculating. Mark a missing definition as unresolved. Where the offers have different exclusions, compare like-for-like coverage first; no arithmetic can make an excluded loss insured.
Keep a usable renewal file
- Save dated policy wording and quote documents, not just a comparison-site price.
- List each changed term and the question it raises.
- Record the source of any climate claim and the years its data describes.
- Confirm acceptance, payment and effective cover through the actual provider.
Revisit the sheet at renewal or after a material property change. Historical research supports context; written policy terms support the decision. We have not assessed any reader’s home, offered insurance or verified a present-day premium.
Turn the premium comparison into a usable record
Use the fictional A and B offers above as two rows, with the effective period and covered peril recorded separately. A's 1,000-unit fixed deductible and B's 6,000-unit percentage deductible describe different terms; the 150-unit premium difference does not say which cover is suitable.
| Field | Offer A | Offer B |
|---|---|---|
| Annual premium | 1,400 units | 1,250 units |
| Specified deductible | Fixed 1,000 units | 2% of a 300,000-unit dwelling limit |
| Computed deductible | 1,000 units | 6,000 units |
| Still unresolved | Exact coverage and exclusions | Specified peril, wording and exclusions |
Copy the actual deductible clause and its percentage base instead of entering a percentage alone. Confirm the limit, peril and policy period from each document. If an exclusion differs, put it in a separate comparison field; subtracting premiums cannot resolve a coverage difference.
Download the blank renewal comparison (CSV). It retrieves no quotes and recommends no insurer. Use the sheet to organise questions for the provider or an authorised adviser. Omit addresses, policy numbers and other identifying information when sharing it.
Scoped source check, October 11, 2026: the Treasury's January 2025 release describes research covering 2018–2022. It does not establish a current premium for your property. The fictional examples and arithmetic are separate from that historical evidence.
Sources and scope
- US Treasury FIO, January 2025 report covering 2018–2022 — Historical aggregate insurance observations; not a quote or forecast for an individual home.
Sources checked October 10, 2026. AI-assisted research and drafting. The examples, calculations and worksheets are Luminesca editorial work; they are not measured trials, first-hand reporting or an independent certification. Unsupported loss forecasts, current policy counts and universal conclusions about premiums have been removed. Report a specific correction with its source.