Homeowner’s insurance premiums have surged dramatically — but your chances of getting a payout if disaster strikes are now barely 50%, according to a new report.

And many of the insurance companies with the catchiest jingles are the ones with the lowest payout rates, an analysis from the Wall Street Journal shows.

The five biggest home-insurance providers didn’t pay out on more than 44% of claims resolved last year, forcing homeowners and renters to cover repairs out of their own pockets, the Journal reported.

That’s up from about 36% of claims that weren’t paid a decade ago.

The overall rate includes Allstate, Farmers Insurance, Liberty Mutual, State Farm and USAA.

The lawyer for one Oklahoma homeowner who sued State Farm over a measly $2,000 payout to replace a $49,000 roof after it was damaged by hail said, “They have weaponized their claims department.”

Farmers had the highest percentage of claims that closed without payment — at 52%, according to the WSJ data.

USAA — which specializes in insurance for the families of military veterans — declined to pay about 51% claims last year.

Allstate had 47% of unpaid claims, Liberty Mutual had 41%, and State Farm had a rate of about 31%.

Representatives of the top five insurers told the Wall Street Journal that they investigate all claims and ensure amounts owed under the policies are paid promptly, fairly and fully.

And insurance providers counter that the numbers aren’t as simple as they seem.

For instance, it is now faster than ever to file claims, with some insurers even encouraging customers to do so via text after an emergency.

Sean Harper, chief executive of tech-based insurer Kin Insurance, said its high nonpayment rate — 58% in 2025 — is “ironically due to some of the really customer-friendly stuff that we do.”

Other insurers have sharply increased their typical deductible amounts in recent years, often introducing separate, higher, deductibles for wind and hail damage in high-risk areas.

In Florida, more than 95,000 homeowners had their payments declined in the wake of Hurricane Milton in October 2024, according to the WSJ.

For almost 40,000 of those declined claims, the reason was damage below the deductible, while others were declined for administrative reasons or withdrew their claims.

And the Milton example also helps explain why costs are rising and payouts are falling.

Milton did an estimated $34 billion in damage — and it was one of four hurricanes with damage totals in the tens of billions of dollars.

The national average homeowner’s insurance premium is now $2,800, and it’s gone up more than 40% over the last year, according a report by Lending Tree.

Defenders of insurance companies said they needed to take tougher stances on claims to ensure they could maintain coverage.

“Policies were being used as a home-maintenance program, paying to replace roofs for even minor damage,” said Ann Frohman, a former Nebraska insurance commissioner.

Frohman was on the receiving end of these tighter measures when, last year, she received nothing on her claim for $6,500 of storm damage, following a sharp hike in her deductible.

“It pains me, but that’s the way it’s supposed to work,” Frohman said.

The NIAC (Nonprofits Insurance Alliance) did not respond immediately to requests for comment.