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Homeowners insurance rates from May 2011 released

home insurance ratesAverageĀ  premiums on new home insurance policies sold have increased slightly over the past 6 months by a rate of 8.3 percent from December 2010 to May 2011.

However, although the average premium sold by had increased to $730 in May 2011, it is still less than the most recent average national premium reported by the Insurance Information Institute which was $791 in 2008. This may signify an overall rate decrease when looking at rate trends over a 3 year span.

Home insurance premium data is reported on the RateReport which displays average premiums sold by on a monthly basis.

“Average rates may be on the rise over the past 6 months, but that doesn’t necessarily indicate a continual upward trend for the future. We’ve seen a lot of fluctuations over the past few years,” said Jana Bell, Co-CEO of She added, “Additionally, insurance carriers are continuing to roll out competitive discounts that keep home insurance affordable for families across the country.”

Some of the biggest savings that customers report are found with a home-auto discount which can reduce home insurance premiums by 15-25 percent. Additional discounts available to homeowners include home security and smoke alarm discounts.

SOURCE: RateReport


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