Rising global premiums highlight a deeper issue locally: many homeowners remain outside formal property protection
Kingston, Jamaica — 23 March 2026
Rising home insurance costs in the United States, where annual premiums are projected to exceed US$3,000 in 2026, are drawing attention to affordability pressures in developed markets. But in Jamaica, the issue presents differently: a significant portion of homeowners remain uninsured altogether, raising concerns about the long-term resilience of the country’s housing sector.
The US data reflects a system under strain from climate-related losses, including hurricanes, storms, and wildfires, which have driven insurers to raise premiums and tighten coverage. While those trends are not isolated to North America, Jamaica’s position within the same global insurance and reinsurance framework means similar pressures are likely to influence local markets over time.
However, the more immediate issue is structural. Unlike in the US, where most mortgage…
