WHAT!!!! Home Insurance Rates Going Up?

By
Real Estate Agent with America's Network Realty Group, Inc

 

Homeowners Insurance

“How could insurance rates go up and the value of my house is and has declined?” is the question many puzzled home owners are asking.   Insurers say rates are not totally based on the value of a home; other factors come into play such as the cost of rebuilding a home.  Key building materials: plywood  prices are up about 8%, copper is up about 20%, and gasoline as we all know  the cost has risen significantly.  

The recent rising number of weather related disasters such as: tornadoes, flooding, hurricanes, snow storms and other extreme weather conditions will drive rates higher.  Even the recent earthquake and tsunami in Japan will affect the rates here in the U.S.

Home owners can shop around for the best prices, but make sure you are getting all the coverage you will need, and an insurance company that can weather a financial storm.

 

 

Ref: Smart Money May 17, 2011

Posted by

Susan Jackson, Associate Broker

Americas Network Realty Group, Inc

1532 Dunwoody Village Parkway

Atlanta, Georgia 30338

Office: 770-551-5850     Direct: 770-551-5852   Fax: 770-551-5866

Email: sjacksonhomes@gmail.com

Website: www.kstrealty.com

Americas Network Realty Group, Inc

Comments (4)

Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Rates used to be based on anticipated risk. Now they seem to be based on whatever is necessary to maintain the company's net profit at a level acceptable to the shareholders and the market, in spite of bad management and investment decisons by the company. Homeowners are at the end of the "pass it on" line and are no longer paying for the real cost of their risk. And it isn't just homeowners - take a look at your health insurance policy cost.

It's almost impossible for a company to actually lose money anymore.

May 26, 2011 08:02 AM
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

Hi dick,

Thanks for the comment. But Ohhhhhhh, I don't want to get started on health insurance cost. it is unbelieveable, and those of us that work for ourselves we surely are suffering the pains of health insurance cost

May 27, 2011 06:08 AM
C. Lloyd McKenzie
Living Albuquerque - Albuquerque, NM
Living Albuquerque

Maybeinsurance companies should be banned.  Insurance in general is a scam, in my opinion

Jun 11, 2011 10:09 AM
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

Someitmes I have thought that also, but then those unexpected occurances and the insurance company paid, I was happy i had insurance.

Jun 12, 2011 01:34 AM