Home Insurance Rates Rose 19% Nationwide in 2011: Report

May 16, 2012

Homeowners insurance premiums went up 19 percent on average nationwide, according to a report from an online insurance provider.

Homeinsurance.com said the typical premium for a new policy in December 2011 was $810 nationwide, up from $682 in January 2011.

The company said its quarterly RateReport data represents approximately 15,000 policies sold across the United States with various carriers including Travelers, Safeco, The Hartford, and ASI/Ark Royal.

RateReport shows that on a nationwide basis, homeowners are paying, on average, $128 more per year for new home insurance than they were at the beginning of the year.

Premium increases were more dramatic in some states than others, including Mississippi, Montana and New Mexico where new policies in December 2011 were seeing 29-39 percent higher premiums than those sold in January 2011.

There were also spots with lower rates towards the end of 2011 including Washington D.C., where homeowners were paying about 7 percent less for new policies. Also new policies sold in December 2011 in Vermont, Virginia, West Virginia and California decreased in price as compared to earlier in the year when they were 1 to 3 percent higher.

HomeInsurance.com, LLC operates an online comparison shopping marketplace for home and auto insurance. Its carrier partners include Travelers, Safeco, Hartford, Liberty Mutual, ASI/Ark Royal, Foremost, and Progressive.

Latest Comments

  • May 22, 2012 at 3:24 pm
    Ken Groff says:
    First time in a number years rates increased higher in areas other than the coast. Hope I didnt speak to soon.
  • May 21, 2012 at 10:59 pm
    thomas murphy says:
    I feel for you company people, when prop 103 was voted in, in CALIF. the auto ins. companies panic and said that was the end and many left the state. Well the companies that l... read more
  • May 21, 2012 at 11:12 am
    Dan S says:
    Tom, You sound like a very confused man or you're just going through your insurance career with blinders on. Credit scoring is a very real and proven predictor of risk.
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