Southerners are especially feeling the strain of more expensive coverage, the study found, as their average annual insurance premiums come in at $1,834; above the national average of $1,584. (Credit: SERSOLL/Adobe Stock)
Forty-three percent of homeowners say they have seen an increase in their premiums in the past year, and one-in-ten plan to switch carriers in the near future – most of them to combat these rising costs – according to a recent report from SafeHome. Another 6% plan to save money by changing their insurance coverage, including dropping optional coverages or upping their deductibles.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
