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Why does the cost of my homeowner's insurance policy keep increasing?

Why does the cost of my home insurance policy keep going up? I haven't made any changes or filed any claims. My agent said this is just how homeowner's policies work. Is that true?

avatar
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“It is true that the cost of
homeowner’s insurance
will fluctuate over time to adjust for the cost of building materials and labor.
When the economy changes and the cost of materials increase, or if there is an imbalance with the supply and demand of materials, you will see the policy premium increase.
Understandably, this can feel unfair to homeowners since they have no control over these changes. There are some steps you can take to lower your current rate, such as:
  • Increase the policy deductible
  • Bundle your auto and home insurance policies
  • Check for safety discounts
If you have evaluated all of your options and the cost of the policy still seems too high, then it is time to shop for a new insurance policy.
Use the free
Jerry
app for a simple and fast way to get find low insurance rates! Jerry shops with over 50 insurance companies to help you find the lowest car and home quotes and delivers them straight to your phone.”
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WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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