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	<title>New answer on: Insurance company keeps raising rates and making my mortgage payments go up.  What should I do?</title>

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		<title>By: Joe 'Gravy' Graves</title>

		<link>https://insurancelibrary.com/home-insurance/insurance-company-keeps-raising-rates-making-mortgage-payments-go</link>

		<dc:creator>Joe 'Gravy' Graves</dc:creator>

		<pubDate>Thu, 17 Mar 2016 14:36:34 +0000</pubDate>

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		<description><![CDATA[Everything the guys said above is spot on.... Check to make sure you have all your discounts. Also, ask about coverage you don&#039;t need. Most home policies have coverage for &quot;other structures&quot;. This could be a detached garage, storage building, or a car port. If you have ZERO unattached structures on your property, ask that to be zeroed out!!! It&#039;s not a lot of savings... yet I&#039;ve seen $20-$200 a year saved. 

DO NOT try to save by reducing your liability coverage. If money is tight now, think of how bad it will be if you are raked over the coals by an ambulance chasing lawyer!!

Last… I want to address the “my rate” statement. Yes, that is the amount you are paying each month. Sadly, most customers (just shy of ALL) come to me with no real idea of how “insurance works”. Think of it as OUR insurance. You are in a pool with thousands of others. As people keep jumping in the pool and splashing water out, the water must be replaced. Well, it’s not water… it’s money instead of water that needs to be replenished. So if your neighbor does a “cannon ball” of a claim, say a fire, A LOT has to be replaced. Yes, the neighbors rate radically goes up. Yet everyone in the pool is “sharing the overall risk in an area”. ‘Your rate’ will go up dues to inflation and because the “pool needs to be replenished”. SOMETIMES there is just too much crud in the pool. YOU CAN look into joining a new group of insureds that are in a cleaner pool. SHOP AROUND. 

If you have a question, reach out!
-gravy…]]></description>

		

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		<title>By: David G. Pipes, CLU®, RCIP®</title>

		<link>https://insurancelibrary.com/home-insurance/insurance-company-keeps-raising-rates-making-mortgage-payments-go</link>

		<dc:creator>David G. Pipes, CLU®, RCIP®</dc:creator>

		<pubDate>Tue, 03 Feb 2015 23:20:28 +0000</pubDate>

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		<description><![CDATA[Most insurance companies require the homeowner to carry insurance that covers the cost of reconstructing the home.  This can be a great deal different than the current market or assessed value of the home.  Companies rely on independent evaluation programs and adjust the amount of coverage annually to reflect the increased cost of reconstruction.  Get another evaluation done to see if that is the source of your problem.]]></description>

		

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		<title>By: Tom Sheehan</title>

		<link>https://insurancelibrary.com/home-insurance/insurance-company-keeps-raising-rates-making-mortgage-payments-go</link>

		<dc:creator>Tom Sheehan</dc:creator>

		<pubDate>Tue, 20 Jan 2015 18:38:02 +0000</pubDate>

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		<description><![CDATA[To the first part of your question, yes it is legal for an insurance company to adjust rates upon  renewal.  On a Homeowners&#039; policy, more than likely you have some sort of an &quot;inflation guard&quot; element built in which adjusts your dwelling amount each renewal to keep up with increases in inflation and other building related costs.  Talk to your Insurance Professional about having a current reconstrustion analysis completed on your home to be sure that the coverage amount is accurate.  Also talk about any and all available discounts to make sure you are taking advantage of them.  Finally ask about price controlling by increasing your policy deductible and be sure to check into any improvement discounts that might be available if you recently completed upgrades in your heating, plumbing or electrical systems or put on a new roof.]]></description>

		

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		<title>By: Rich Haag</title>

		<link>https://insurancelibrary.com/home-insurance/insurance-company-keeps-raising-rates-making-mortgage-payments-go</link>

		<dc:creator>Rich Haag</dc:creator>

		<pubDate>Tue, 20 Jan 2015 14:57:38 +0000</pubDate>

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		<description><![CDATA[Yes it is legal, all insurance is regulated by the state insurance commissions, so anything Allstate is doing has been approved by them.  First thing you should do now is contact a local independent agent and have them quote you with multiple carriers that can compete for your business. Typically the insurance companies are going to want your home and auto bundled together. This also gives you the most discount opportunities. Every insurance company will work with your mortgage company to get the premium paid.]]></description>

		

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