Homeowners Insurance Premiums Rising in 2022

The rate of insurance premium increases is exceeding the rate of inflation, and that trend looks to continue into 2022.

All homeowners policies renew annually and if you haven't seen an increase yet, prepare yourself now because your rate is sure to go up and if you have a mortgage, this could result in a mortgage payment increase as well. On average, the typical homeowner spends 1.9% of their total income on homeowners insurance and a rate increase here, along with every other increase in goods and services predicted for 2022 could hit those at the margins the most.

So what's driving premium increases? The Washington Post released an article recently to help folks understand why their rates are going up https://www.washingtonpost.com/business/2021/12/27/rising-home-insurance/ and includes a great link to 12 Ways to Lower Your Homeowners Insurance Costs https://www.iii.org/article/12-ways-to-lower-your-homeowners-insurance-costs.

But there's good news! Just because your insurance carrier is raising your rate, that doesn't mean you can't find lower rates elsewhere. As an independent agent, I represent you and not the insurance company so when rates go up, we go shopping.

Inflation and rate increases are beyond our control but your power to choose is not. Rediscover the power of choice and contact us for a quick and easy quote. Better yet, click here http://goosehead.com/Alan-Romero and shop the largest network of insurance carriers you'll find online, anytime, day or night.