Rising Home Insurance Premiums
Recently, there has been a lot of buzz about rising home insurance premiums, and unfortunately, the rumors are true. Some Insurance Companies have already taken the lead, increasing their premiums and minimum deductibles in an attempt to improve their numbers from previous years. Others have made announcements that the increases are pending or will be taking effect as of a certain date.
Although the rising home insurance premiums are inevitable, we wanted to provide you with some of the important reasons WHY they are increasing so that you have a better understanding of how this impacts you. As well, we thought it would be helpful to provide you with some recommendations on how you can minimize the impact of on your pocket book.
As a reminder, Insurance is the losses of a few spread among the many. Therefore, the high amount of claim payouts in the last few years affects all of us even if we have not put a claim through ourselves.
Hopefully you have found this information helpful with respect to your own home insurance policy. If you would like us to review your existing coverage and rates, we would be more than happy to do so and to offer you our recommendations on how you can minimize the impact of the rising home insurance premiums.
The Costen & Associates Team