1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most homeowner’s policies have an annual adjustment for the increased costs of construction.  This raises the limits in the policy which also raises the premium.  With each passing year the home grows older and that also affects the premium.  Companies often reward customers who do not have claims and those discounts can have a substantial effect on your premium.  Occasionally companies will file for and receive from the state insurance commissioner permission to raise the rates in a specific area due to losses that exceed the premiums received.
    Answered on August 1, 2014
  2. 109 POINTS
    Kristen Ducharme
    CIC, Brooks Robb & Callahan,
    Homeowners insurance premiums may or may not go up each year. Each year the cost of materials and labor goes up, therefore most carriers will increase premiums slightly each year by increasing Coverage A on the dwelling. Some carriers will offset this increase with a renewal credit to thank loyal customers.
    Answered on August 9, 2016
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