What's Going on with Home Insurance?

Why is Home Insurance Becoming Such a Big Deal?

Home insurance rates have surged in recent years, driven by a variety of factors that are creating significant affordability challenges for homeowners across the U.S.


Key Reasons for Increasing Home Insurance Rates:

Natural Disasters and Climate Change: The increasing frequency and intensity of natural disasters, such as wildfires, hurricanes, and severe storms, are pushing insurance premiums higher. In 2022 alone, the U.S. experienced 28 natural disasters, each causing more than $1 billion in damage. Insurers are adjusting premiums to cover the higher risk of claims associated with these disasters.

  • Rising Rebuilding Costs: Inflation, rising home prices, and increased material and labor costs have significantly driven up the expense of repairing or rebuilding homes after a disaster. This has further raised the cost of insurance.
  • Increased Litigation and Fraud: A rise in legal disputes and fraudulent claims has added to insurers’ costs, leading to further increases in premiums.
  • Cost of Reinsurance: Reinsurance, which insurance companies use to manage their own risk, has also become more expensive due to catastrophic losses. These rising costs are passed down to consumers in the form of higher premiums.


Impact on Homeowners:

Between 2017 and 2022, homeowners' insurance premiums rose 40% faster than inflation. The national average now ranges from $1,750 to $2,500 annually, with some regions seeing rates as high as $6,000 per year, particularly in disaster-prone states like Florida and California.

Many homeowners are finding it difficult to afford the higher premiums, with some choosing to forego insurance entirely. Approximately 12% of U.S. homeowners had no insurance in 2023, up from 5% in previous years. This exposes uninsured homeowners to extreme financial risk, especially in disaster-prone areas.


Market Pressures:

Insurance companies are retreating from markets deemed too risky, notably in states like Florida and California, where major providers such as Farmers and State Farm have reduced their presence. In response, residents are turning to state-managed or residual insurance programs, which often provide more limited and expensive coverage.

Regulatory efforts to limit price hikes are constrained, as insurers threaten to exit markets if they cannot charge rates sufficient to cover growing risks. As a result, insurers generally retain substantial pricing power.


Broader Impact on Housing:

Rising insurance premiums are not only a burden on homeowners but also impact multifamily housing providers, particularly in affordable housing sectors. Increased costs have led to delays or reductions in investments in both new and existing affordable housing, further tightening an already limited housing market. In market-rate multifamily housing, higher premiums contribute to rising rents, exacerbating financial pressures for renters.


In conclusion, climbing insurance premiums, driven by escalating climate risks and other factors, are placing significant strain on homeowners, renters, and housing markets, with affordability increasingly becoming a critical issue across the country. With massive impacts on not only buyers, but sellers, we feel that this will result in increased pressure on those looking to get into or out of the real estate market.

Step Into the Shadows: Exploring Las Vegas’ Mob Museum

July 28, 2025
Tucked away in the heart of Downtown Las Vegas, just steps from the flashing lights of Fremont Street, the Mob Museum offers something wildly different than the typical Vegas experience. Officially known as the National Museum of Organized Crime and Law Enforcement, this one-of-a-kind destination invites you to step into the gritty, gripping world of the American mob—and the people who tried to stop it. Housed in a historic 1930s U.S. Post Office and Courthouse—where real mob hearings took place—the building itself sets the tone. This is no ordinary museum. It’s immersive, intense, and at times, jaw-dropping Your journey begins at the top, tracing the rise of organized crime through Prohibition. Real artifacts tell real stories, including the actual bullet-riddled brick wall from Chicago’s infamous St. Valentine’s Day Massacre. As you make your way down each floor, the exhibits dive deeper into how the mob operated, how Las Vegas became a haven for crime families, and how law enforcement fought back - with wiretaps, undercover agents, and televised trials that captivated the nation. One of the museum’s standout features is its fully restored courtroom, where the 1950s Kefauver Hearings were held - bringing mob activity into the public spotlight for the first time. It’s surreal to sit in the very space where America watched the mob be put on trial. Downstairs, visitors can try hands-on exhibits like a police training simulator, or step into a forensics lab to test their CSI skills. But the real hidden gem is in the basement: The Underground, a fully functioning speakeasy and distillery that serves up Prohibition-style cocktails and house-made moonshine. It's a delicious way to end your tour through history. Beyond the drama and intrigue, what makes the Mob Museum truly special is how educational and engaging it is. It’s not just about the mobsters—it’s about the impact organized crime had on American culture, law, and justice. Whether you're a true crime junkie, history buff, or just looking for something different to do in Vegas, the Mob Museum is a must-visit. It’s raw, real, and fascinating from start to finish. L ocation: 300 Stewart Ave, Las Vegas, NV Hours: Daily 9am–9pm Admission: Starts around $35; discounts available for Nevada residents, students, military & law enforcement Don’t Miss: The Underground speakeasy (open later hour s)

800+ 5-Star Reviews and Counting: Why Las Vegas Trusts McKenna Property Management

July 21, 2025
McKenna Property Management is proud to have earned over 800 five-star reviews on Google — real feedback from property owners, investors, agents, and tenants all across Las Vegas who’ve experienced the difference working with us makes. Led by our owner and broker Jenni McKenna, with over 30 years of local real estate experience, we focus on making property management smooth, efficient, and refreshingly personal. We don’t believe in one-size-fits-all service or sending you in circles with automated systems. When you call our office, you’ll get a live person on the phone — not a robot or endless phone tree. Our team is organized into specialized departments, so whether it’s leasing, maintenance coordination, accounting, or HOA coordination, you’re always connected with the right person who knows how to help. That means quicker responses, clearer communication, and less frustration all around. Owners and investors trust us to handle everything from marketing and tenant screening to rent collection and repairs, helping maximize returns without the usual headaches. Agents feel confident referring clients to us because they know we respect their relationships — when it’s time for their clients to buy or sell, we never interfere or poach. Our focus remains solely on providing top-tier property management, while preserving and protecting their business. And tenants enjoy well-maintained homes, easy online systems, and a team that truly listens and responds. At McKenna Property Management, we treat every property like it’s our own and every person like part of our community. If you’re looking for reliable, experienced property management in Las Vegas with real people and real results, we’d love to connect.

Discovering Fergusons Downtown: Vegas’s Creative Heartbeat

July 14, 2025
Tucked at 1028 Fremont Street, Fergusons Downtown is where the spirit of old Vegas meets the creativity of a new generation. Once a mid-century motel, the property has been transformed into a vibrant community hub that pulses with life, art, food, and connection - a must-visit for anyone seeking the authentic soul of Las Vegas beyond the glow of the Strip. Originally the Franklin Motel in the 1940s and later renamed Fergusons Motel in the ’60s, the site was reimagined in 2019 by the late Tony Hsieh’s Downtown Project. What was once a simple roadside motel is now a full city block dedicated to innovation, small business, and creative risk-taking. The former motel rooms have been turned into studios and retail spaces, now home to an eclectic mix of local businesses. You’ll find everything from Neon Cactus Vintage to plantlovers’ haven LV Plant Collective. For foodies, Fergusons delivers with the Vegas Test Kitchen, a rotating lineup of pop-up culinary concepts that keep things fresh. Highlights include Mothership Coffee Roasters (offering everything from vegan pastries to charcuterie), La Monja for ceviche and housemade tortillas, and Hatsumi for seafood and sake with a Japanese twist. Cocktail lovers can settle into F the Bar, a cozy greenhouse-style lounge serving drinks like the hibiscuslavender “Vegas Playground.” At the center of the space is Big Rig Jig—a towering, 50-foot sculpture made from repurposed oil tankers. It’s bold, unexpected, and the perfect metaphor for what Fergusons stands for: turning the ordinary into something unforgettable. The community vibe continues in The Yard, a grassy gathering space that hosts jam sessions, yoga classes, comedy nights, open mics, and weekend markets. Monthly events like the Hey Maker Market and Pour in the Alley spotlight local artisans, performers, and mixologists, making every visit feel new. Fergusons Downtown isn’t just a redevelopment project—it’s a living ecosystem. It’s where artists, entrepreneurs, families, and visitors collide over coffee, cocktails, creativity, and conversation. It’s a place that proves Vegas is more than casinos and clubs; it’s a city full of soul. If you're ready to experience a different kind of Las Vegas—one rooted in community, creativity, and a touch of magic—step into Fergusons and see what’s blooming in the heart of downtown.