P&C insurers steeply raised homeowners’ insurance premiums in 2011, according to the HomeInsurance.com RateReport. HomeInsurance.com’s data represents about 15,000 polices nationwide with carriers like Travelers, Safeco, The Hartford and ASI/Ark Royal.
The survey showed that 12-month home insurance premiums were $810 nationwide in December 2011, a nearly 19 percent increase from $682 in January 2011. Nationwide, homeowners are paying $128 more on average per year.
But premium increases weren’t stable throughout the country. In states like Mississippi, Montana and New Mexico, new policies jumped 29 to 39 percent from January to December, while in Washington D.C., homeowners paid 7 percent less for new policies in December.