Oh, the joys of homeowners insurance costs—like a game of Monopoly, but with actual stakes and no fun in sight! So, you’ve hit on some big-ticket risk factors like age of the house, roof status, and the ever-dreaded swimming pool (because nothing says "insurance nightmare" quite like an aquatic hazard). 

Don’t forget about weather risks. I mean, is it just me, or does every corner of the U.S. deserve its own natural disaster award? Hurricanes and floods in Florida, wildfires in California, tornadoes in the midwest—what’s next, avalanches in the Big Apple?

And let’s not gloss over the reinsurance market, which sounds like a fancy way of saying an insurance company’s wild party expenses are landing on our doorstep.

As for my neck of the woods, I’ve seen only a modest increase in premiums that doesn’t even keep up with inflation, but I’m bracing myself for that "what did I just step into" moment when renewal time rolls around.

So, what about your area? Are rates climbing like they're training for a marathon, or are they still reasonable?

Shopping for insurance is more difficult than shopping for a house and there is no reason for this problem.  This was a great article but I find that most insurance agencies in my market do not service their clients needs.  It is very tough to get answers to questions on a regular basis.  I am not trying to start a fight but this is my honest opinion.  

Fred Griffin Florida Real Estate I've never heard of "reasonable" homeowner insurance rates. 😉 One point I will make from past (bad) experience is a homeowner needs to ask about the different water coverages available. While most people understand that flood insurance is something on it's own not everyone is aware that sump pump backup, overland flooding, sewer backup may all be seperate insurance policies.

Totally out of control & whether you have a fire hydrant in your front yard (I did) or not, they go by logistics & odds to base coverage similar to Las Vegas where the house has to win or they can't stay in business. As far as factors? They can inspect & project a risk & then charge for it. Who can say different? Fred Griffin Florida Real Estate 

Insurance premiums in California are going up, up and up.

Homeowner and Auto Insurance increased significantly here in Texas! Another risk factor is if FEMA changes their reports and you're in a flood zone or have had many tornadoes. When I questioned my insurance man several months ago, he said my rates went up for all claims, not just Flower Mound. If there's crime, rates go up. If you buy a newer car and there are more safety features - rates go up. If your house is 25 years or older, your house is more at risk for fires. If you haven't had a newer roof put on in years, your policy would most likely be cancelled. First-time homebuyers would be lucky to get affordable home insurance and most companies in TX no longer bundle policies. 

He also told me I was lucky because I haven't changed my policy, and I am considered a loyal customer. Plus, the only claims I had were for two new roofs evenly spaced out. No frivolous claims. No auto claims caused by me or to pay for uninsured motorists. If I was buying Safeco for the first time, they would not bundle my insurance, and my premiums would be higher. 

Still in all, both my home and auto went up significantly and he told me, it had a lot to do with Florida claims (hurricanes, balconies, and building collapses). 

Out of control. Rates continue to rise and more limitations and restrictions are added to policies.  

My homeowner's premium shot up 25% for this year. Let's not talk about auto insurance cuz it's the same. These insurance companies are out of control

Fred Griffin Florida Real Estate 

One has to ask himself or herself, can you afford to have insurance or do without. If one has a mortgage, home insurance is a must.  Rates are out of control! A customer of mine wants to see a home located on a flood zone, the listing agent said that just for flood insurance, it will cost about $3,500 alone.

Rates have risen quite a bit here as well.  A tree branch touching the roof will raise the rate, haha.

Location and weather trends are huge factors in potential loss factors. And, it is going to get more expensive just like auto and health insurance. Up, up and away as they say. And when there is a loss try to get paid!

Hello Fred Griffin Florida Real Estate in my area, homeowners insurance costs doubled and triplet for the past year.

Location, location, location!

     Lucky for starters to live in the state with the lowest car insurance rates. As for property, we don't have hurricanes or tornados. Snow has been skimpy the last two mild winters so the preventative measures like clearing your porch roof off, etc not needed. 

     Maine is rated 4th lowest crime state too and the north half where I live is half that pretty impressive statistic that helps keep insurance rates low low low. Replacement building costs are lower and your sale price of homes divide by two and three. Lots of cheap lumber, 91 % of Maine is wooded. 

     So no wind, flood, gang crime events and get more for less standard of living keeps insurance, everything affordable. I insure with huge deductible and low premium. Get an insurance review yearly. If you have no claims, don't nickel and dime your carrier with little stuff, your bottom line improves.

     Bundle those policies, relocate to where you don't lock doors or need heavy duty security. Keep tree limbs trimmed, update your property and negotiate your rate.

Fred, proximity to a fire hydrant is a big factor in our area, along with age of furnace, roof, and building materials.  We dumped the national insurance companies and go with ones that only underwrite in our state or two or three states max. 

The insurance for our lake home more than doubled from $1,500 per year to over $3,450 per year.  We did not renew and found more coverage with another company for $1,550 per year.  It does pay to shop around!!!

well don't put a steeple on your house.... our church insurance just went up 300% because of it.

The biggie is being in the state of California.

I suspect that living in the path of frequent severe weather could be a big factor.