Business Home Page Get A Quote Our Team Auto Home Life

Many of you may be wondering why your homeowner insurance premiums are increasing along with higher deductibles and companies applying a wind/hail deductible.  From information received by Professional Independent Agents Association of Ohio, Inc. it is due to weather and shared risk.

When a wave of major storms strikes Ohio, or anywhere in the United States for that matter, your carrier uses insurance premiums to pay claims to help customers, like you, recover.  If they expect more storms, your rates increase.  Ohio has been rocked with several devastating storms this past year, from hail storms to tornados.  Simply stated, a greater frequency and severity of storms create higher premiums, regardless of whether or not you have had a claim.  Experts identified causes for the increase, but the two major reasons are:  An increase in severe weather events and the growing population.

How to save on homeowners insurance-The best way to reduce the impact of a rate increase is to talk to your independent insurance agent about your coverage options and let them find the best solution for your needs.  Their knowledge and professionalism is your best option.

Ohio is ranked 6th lowest in the United States based on its average homeowners insurance premium.  Even with the increase looming, the cost of coverage remains considerably lower in Ohio than in most other states.
Posted 9:20 AM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Home Page Our Products Our Carriers Calculators Newsletters FAQs Videos Glossary Blog