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Why do home insurance rates seem to be going up? We get this question often. Here are a few factors:

- The entire home insurance industry is estimated to lose $12 billion. (Simply put, that means that companies will have paid out $12 billion MORE than the premium that came in!)

- A lot of this is due to increased natural catastrophes. There have been an average of 63 per year since 1997, compared to an average of 32 per year for the previous 16 years.

As a result, many companies are raising rates, so they can stay in business. We realize this doesn't make it any more fun to pay an insurance premium. But we feel it's helpful to see the big picture.

Thankfully, we have many companies available for our customers. So we can usually have competitive rates for you.
Posted 8:18 AM  View Comments

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