Location matters when it comes to insurance payment growth

Summary

• Median insurance payments by core based statistical areas for September to August 2026 show year-over-year increases in major coastal metros outside of Florida.
• Cities throughout portions of the Sun Belt including Houston, Nashville, & Dallas experienced flat or declining insurance payments as earlier price pressures eased.
• Florida saw declines in insurance payments, aided by insurance reforms & potentially rebates to consumers.
• Premium payments jumped most in major California cities in 2026.
• Boston & New York also saw sizable increases in insurance payments.
• Orlando, Tampa, Jacksonville, & Miami are listed among locations with lower or negative year-over-year growth compared to cities like Los Angeles, San Francisco, & Boston.
• Data is derived from aggregated & anonymized selections of Bank of America transaction data including US Retail, Preferred, Small Business, & Wealth Management clients.
• Insurance payments data includes renters, auto, or home insurance but excludes insurance escrowed into mortgage payments or deducted from a paycheck.
• Income terciles are based on quantitative estimates of household income, with the lowest tercile representing 'lower income', the middle tercile 'middle income', & the highest tercile 'higher income'.
• Generations are defined as Gen Z (born after 1995), Younger Millennials (1989-1995), Older Millennials (1978-1988), Gen Xers (1965-1977), Baby Boomers (1946-1964), & Traditionalists (pre-1946).