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The way that everyday people view the American Dream is rapidly changing. For the longest time, a critical part of this dream was owning a home; though more people see this as unattainable.

Given the current state of the economy and inflation, many folks believe they won't ever get to a place where they can purchase a home, let alone keep up with a mortgage and other homeownership expenses. Even people who already scooped up residences are struggling to make punctual mortgage payments.

As it turns out, home insurance is one of many expenses that come along with owning instead of renting. According to a recent report, the costs of having home insurance have considerably increased over the past several years.

Breaking news from LendingTree

The new findings reveal that since 2019, there's been an almost 38% surge in what Americans are paying for home insurance. In states like Nebraska, Illinois, and Arizona, home insurance costs have actually gone up by 55%.

"What's driving these major price increases?" many people find themselves asking. Officials have connected the dots to the growing costs of homeownership in general. Inflation is a factor as well. However, the materials used to build houses have become more expensive. This cost then subsequently spills into home repair fees as well.

This means that when insurance companies have to cover repairs, they're paying more money across the board. Naturally, this leads these companies to raise their rates as a means of offsetting the difference.

Finally, officials believe climate change may also have an impact on home insurance costs. More natural disasters will of course lead to a higher demand for property repairs, which - once again - causes insurance companies to have to spend more money.

Don't expect home insurance to get any less expensive

Moving ahead, anyone who owns a house or is considering buying one should expect insurance rates to keep climbing. Inflation, the cost of home construction, and other factors impacting the cost increases since 2019 aren't going away.

Further data from LendingTree reveals that most home insurance claims filed so far pertain to issues involving hail, wind, lightning, and fire.