Homeowner Insurance Increase (homeowners insurance, estimated, companies)

[clsherrill]

I just got a letter from Nationwide letting me know that my homeowners insurance is in excess of the standard rate as applicable in the state of NC. Look at the numbers my insurance is increasing $143 over what it was last year. No increase in the coverage, so why is there such a large increase? Anyone else experience this or any ideas of how to approach this?

[brokensky]

Not sure what you mean by it being "in excess of the standard rate as applicable in the state of NC."

The state has legislation in committee right now that will raise homeowner's insurance across the state . . . but since it has not yet passed . . . perhaps Nationwide is simply raising rates.

You can always check around and see what other insurance companies would charge for the same coverage. Just remember - whatever you decide - we will be having a rate increase, estimated to probably come in at 10% for most folks.