Home Insurance Premiums Rising, Weather to Blame - WSET.com - ABC13

Home Insurance Premiums Rising, Weather to Blame

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If you own your home, chances are your insurance premiums are going up.  Insurance experts estimate many of us are seeing a 10-percent increase. 

If you've seen new insurance rates on your home. and they are higher than you expected, you are likely asking yourself, what can you do right now? The first thing is, call your insurance agent.

We all remember the recent wildfires here in Green Country,  but those are just part of the reason your insurance rates may be going up. Over the years, we have seen wind damages, hail and even snow and ice.

Those all add up to insurance claims and now it seems like we are all going to pay for it.

Think about this, Oklahoma has always been more expensive when it comes to home insurance, because of our unpredictable weather.

So what can you do now? Talk to your insurance agent and see if you can cut costs anywhere or make changes.  If you have insured jewelry or furs, maybe those are not as valuable as the cash you're spending to insure them.

Bailey Word of Cartmill and Rich is an insurance professional who says he had to make changes of his own. "My homeowners premium went up a lot and so I just opted for a higher deductible, which reduced my premium back down to where the increase was not as much as it would have been otherwise," he said.

While we have seen insurance rates go up for our homes, our cars could be next, as many have also been damaged in weather events.

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