Why Would My Home Insurance Double In Price?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    This could be caused by many factors. The carrier may have experience an exceptional number claims within your geographic location and now are looking to make the premiums match more closely with the risk that have within that area. Your credit rating could influence you premium. If you have experience a large claim or more than one smaller claims within the last five years this could also be affecting your rate. There are just too many variables to say with certainty what would cause your rate to increase so dramatically. I would suggest calling your carrier directly to ask for an explanation or contact your local agent to inquire about the rate change.
    Answered on August 30, 2013
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