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Fighting Rising Home Insurance Rates

Fighting Rising Home Insurance Rates

Fighting Rising Home Insurance Rates
News from KGAN TV:

Updated: Thursday, April 24 2014, 09:30 PM CDT
MARION, IA (CBS2/FOX28) – With spring and summer weather making its way through the Midwest, homeowners and their insurance companies are both dreading hail and wind damage.

There’s no shortage of factors that could make your home insurance payments go the wrong way: up.

“Any kind of loss that an insurance company would look at as a risk factor and say, ‘You know we’re seeing a trend here,” said Iowa Insurance Division Spokesperson Tom Alger.

It could be something like an increase in crime or shutting down fire houses, anything that would make a city, or every just part of a city, more risky to insure. While it might be frustrating to part with a little more money, Tom says there is no such thing as random increases.

“Everything has to be justified,” said Algers.

That’s what Marion resident Clara Ideker’s heard before.

“There’s always an excuse each time, ‘Well you made x-number of claims so now we have to raise your insurance,” said Ideker.

She’s lived in Marion for the past eight years and the increases that she’s seen generally come after hail storms.

“Basically it was just my gutters and spouts and the hail dented it all and knocked it loose so I had to file a claim,” said Ideker.

The insurance covered the damage on her car and to h…………… continues on KGAN TV

… Read the full article

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