Why Is My Home Insurance Increasing?

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   Mark Bartlett CLCS

   Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers

   There are many reasons why a home insurance policy would increase. Homes are insured for replacement of  dwelling or in other words,  what does it cost to build. If cost of construction and materials increases then replacement cost will increase which means your dwelling amount, or the amount to insure increases, which of course causes an increase in premium. Other factors could be regional rate adjustment do to losses. Also age of your home could be a factor. Claims you may have made could be a factor. Did you un-package your auto policy from your home could be a factor. There are many factors which should be discussed with your agent to determine premium changes and what if anything can be done to adjust the rate.

   Answered on July 31, 2013

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