Why is Homeowners Insurance on the Rise?

Real Estate Agent with Diane O and Friends - Benchmark Realty 290309

So many people have been shocked lately when they open their homeowners insurance bill, with many saying, “I haven’t had a claim in years, and my premiums are still going up”.

2011 has been the year of storms for insurance companies. Not to mention Katrina and Ike in previous years. Below is a list of what insurance companies have paid, so far, for 2011 damages.

Once you take a look at the numbers you will see why many homeowners are seeing increases on home premiums is because the insurance companies have to rebuild their bank account, otherwise they won’t be able to pay claims. And when the companies raise rates, they don’t just pick and choose; the rate increase goes out to all policy holders.

When you look at your policy remember to take a look at Wind/Hail Deductibles. Because Wind/Hail is the most common insurance claim, insurance companies are starting to no longer offer low deductibles such as $250 and $500. Many have set $1000 has their lowest dollar deductible they offer, with some even going to only offering percentage deductibles. Example: the insurance company may change to a mandatory 1% deductible for Wind or Hail damage. If you have a home insured for $250,000, your deductible will now be $2,500. online contact form or give us all call.

For more information on Property and Casualty contact Drew Hubbard, CLCS, Van Meter Insurance Group, Houchens Insurance Group. Drew's email is hubbard@vanmeterins.com or call his office at 615-771-4172, or on his cell: 615-879-7817. Please note that insurance coverage cannot be bound, mended, or altered via email. Verbal or written consent is required.

So when you are to buy or sell property in Tennessee then it is time to work with Diane O and Friends.

Our team of professionals always do our homework and find you the best deal at the best rate. For more information about Diane O and Friends and our real estate services please fill out the

Office: 615-371-1544
Diane Cell Phone: 615-406-2184
Mandy Cell Phone: 615-477-6959
Fax: 615-472-7931

Spring 2011 Tornado Losses

Allstate Corp. $2 billion
State Farm $1.75 billion
Travelers Companies $1.05 billion
Chubb $310 million
Zurich Financial $295 million
Cincinnati Financial $290 million
MetLife $180 million
State Auto Financial $135 million
Hanover Insurance $85 million
Validus $75 million
Assurant $75 million
PartnerRe $70 million
Aspen Insurance $60 million
Hiscox $56 million
Hannover Re $45.6 million
Montpelier Re $35 million
Flagstone Re $30 million


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Benchmark Realty,318 Seaboard Ln., Ste 115, Franklin, TN  615-371-1544
Diane Osowiecki, license #290309 cell - 615-406-2184  email  diane@dianeo.us
Mandy Buchholz, license #309437 cell - 615-477-6959  email  mandybuchholztn@gmail
Bob Osowiecki, license #325031  cell - 615-878-3902 email  bobointn@gmail.com


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Ilona Matteson
Beach Realty & Construction on the Outer Banks of NC - Duck, NC
Ilona Matteson

All the more reason the Senate needs to approve the reauthorization of the National Flood Insurance Program!  Those figures are staggering.  Thanks for sharing.

Jul 28, 2011 06:41 AM #1
Barb & Sal Dragotta
Macomb, MI
Macomb County Michigan

Diane...the costs are being spread all over the nation as well.  Have not seen nor heard from Sal what or if ours has gone up; but Michigan home owners have seen this also. 
On that Flood Insurance program--the premiums are very high; the deductions-if any- are limited; the 'getting an answer' quite difficult.  We were forced to pay that for some time at another home here in Michigan--not on a flood plane of any kind.  It took the Army Corps of Engineers to clear the problem. 
General flood insurance though individual companies must be read carefully as well.   
have a good Friday & weekend.

Jul 28, 2011 08:39 AM #2
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Barb, has it right - the costs are being spread through out  and it just is no joke. You have to, have to have it.

Jul 28, 2011 09:31 AM #3
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

It's a good time to buy stock in well run insurance companies, they are raising rates based on historic events tha may not occur again for years. Most weather forecasters say that these events go in cycles, remember that we had no hurricane damage last year, and it looks like it will be slow again this year. I predict big profits for a few years for most of these insurance companies.

Jul 29, 2011 04:27 PM #4
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