"I don't think it's a surprise to anybody that the insurance market is a challenge right now," Cocking said. "The price that we're paying now for our insurance premiums is kind of the direct price we're paying as a result of climate change. The wind that we're having, the hail...
Premiums have been on the rise for several years, thanks to a combination of inflation and natural disasters. Inflation doesn't just affect gas and food prices. Homeowners insurance rates are going up because it's gotten more expensive to repair and rebuild houses after they're damaged. That'...
Why did my homeowners insurance go up so much in 2023? Your homeowners insurance premiums may have gone up so much in 2023 due to a number of factors, including: Persistent inflation:Home insurance premiums went up nationwide due to the increased cost of labor and construction materials thanks...
Meanwhile, consumers may still be paying more for their homeowners' insurance regardless of whether their home is damaged by a flood, fire, or tornado—and rising premiums are leading consumers to make ill-advised decisions. "People will sometimes say, 'Because premiums have gone up, I'll sacr...
Ever wonder how yourhome insurancepremiums get determined? There is a process. It depends on the insurance as much as it does the insured. Factors that come into play when determining home insurance premiums include: Risk Location Value of the home ...
Further, I had an unpleasant run-in with my homeowners insurance provider. One year, they unilaterally jacked up my homeowners insurance premiums. They basically said they were doing it for my own good since construction costs had risen considerably. ...
In New Jersey, homeowners typically have access to a variety of insurance discounts that can significantly reduce their premiums. By understanding and taking advantage of these common discounts, residents might be able to save a considerable amount on their home insurance policies. Protective devices ...
States where home insurance costs are going up the most Homeowners insurance premiums in the U.S. increased an average of 21% nationally from May 2022 to May 2023, according to the2023 Policygenius Home Insurance Pricing Report. Florida homeowners faced an average premium increase of 35% at ren...
Don't assume that the first quote you receive for coverage is going to be the best option. It's usually a good idea to ask for quotes from several companies since you're likely to find that they have a range of premiums even if you're asking for the same amount of coverage from eac...
you have disassembled the trampoline, paid off the mortgage, or installed a sophisticated sprinkler system. If this is the case, simply notifying the insurance company of the change(s) and providing proof in the form of pictures and/or receipts could significantly lower your insurance premiums. ...