Why your home insurance went up, and 5 ways homeowners are paying less
A higher renewal doesn’t always mean you have to pay it. Here’s what drives the increase and what you can do in a few minutes.
Illustrative example only. Your figures will differ.
For many homeowners, the renewal email arrives, the card on file gets charged, and the new price never gets a second look. But renewing automatically is how a lot of people end up paying more than they need to.
Here’s why premiums rise, and five things homeowners are doing about it.
Know why the price went up
Insurers reprice every year. Higher rebuilding costs, more frequent storm and wildfire claims and rising reinsurance prices push rates up, even for homes with no claims at all.
Get quotes from more than one insurer
Each company weighs risk differently, so the same home can be priced very differently from one insurer to the next. Seeing several quotes side by side is the quickest way to know if your rate is fair.
Loyalty to one insurer doesn’t always pay. Comparing is the only way to know.
Ask about discounts you may not be getting
Bundling home and auto, monitored alarms, water-leak sensors, a newer roof and a claim-free history can all lower a premium. Discounts vary by insurer and aren’t always applied automatically.
Review your deductible
A higher deductible usually means a lower premium. If you have savings set aside for small repairs, it may be worth seeing how the price changes.
Make sure you’re not underinsured
Your dwelling coverage should match what it would cost to rebuild today. When you compare, check coverage, not just price, so a cheaper policy doesn’t leave gaps.
Quick self-check
Tick anything that applies to you.
Compare home insurance quotes in about 2 minutes
Enter your ZIP code and see rates from insurers in your area. If your current policy still wins, you keep it.
Check my rates