Home Owner’s Insurance Prices Are Going Up and Up

September 26,2023 | Posted By Dinorah Carmenate in re

Recently I have received many calls from clients saying “My payments have gone up”. After reviewing the paperwork, I realized that the mortgage payments are going up because the homeowner’s insurance has doubled and even tripled. This will increase your payment significantly.

Unfortunately for us in CA, I do not think this situation is going to get better any time soon. Many of the big insurance companies like Allstate, Farmer’s Insurance and State Farm Insurance are no longer insuring CA properties because of the losses they have incurred due to the wild fires. If you receive a notice from your insurance company saying they are not renewing your policy, call me and I will be happy to recommend to you the company I use.

Unfortunately, this happened to me as well. I was paying $2,100 for my homeowner’s insurance and it was just renewed at $3,400. YIKES!! I was able to reduce my cost by doing a few things. I was able to bring it down from $3,400 to $2,700. If you would like some suggestions on how to reduce your homeowner’s insurance, call me and I’ll be happy to share them with you.

Read the Article Here
Source: cbsnews.com

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