WILMINGTON, N.C., May 16, 2012 /PRNewswire via COMTEX/ -- (HomeInsurance.com) -- The 2011 HomeInsurance.com RateReport was released today showing a considerable increase in average 12-month homeowners insurance premiums for new policies in December 2011. HomeInsurance.com's data represents approximately 15,000 policies sold across the United States with such top-rated carriers as Travelers, Safeco, The Hartford, and ASI/Ark Royal.
HomeInsurance.com's RateReport shows 12-month home insurance premiums in December 2011 were $810 nationwide, a 19 percent increase from January 2011 at $682. RateReport shows that on a nationwide basis, homeowners are paying, on average, $128 more per year for new homeowners insurance policies than they were at the beginning of the year.
State-by-state premium increases were more dramatic in some areas including Mississippi, Montana and New Mexico where new policies in December 2011 were carrying roughly 29-39 percent higher premiums than those sold in January 2011.
"Rate fluctuations are normal and can be caused by a variety of factors," said Carlos Lagomarsino Founder of HomeInsurance.com. "The best thing homeowners can do is to comparison shop and ask their agents to qualify them for all eligible discounts, such as a home-auto package, which can provide substantial savings."
With the overwhelming increases in 2011, there were some bright spots where policyholders saw lower rates towards the end of 2011 such as Washington D.C., where homeowners were paying about 7 percent less for new policies. Likewise, new policies sold in December 2011 in Vermont, Virginia, West Virginia and California decreased in price as compared to earlier in the year when they were 1 to 3 percent higher.
About the HomeInsurance.com RateReport
The HomeInsurance.com RateReport is released quarterly and shows average premiums paid by homeowners across the United States for home and auto insurance. For more information on rate trends or rates by state visit the Home RateReport and Auto RateReport.
About HomeInsurance.com, LLC
HomeInsurance.com, LLC operates an online comparison shopping marketplace for home and auto insurance, making shopping for the best insurance rates from multiple insurance companies easy, fast, and efficient. HomeInsurance.com is partnered with the top-rated home and auto insurance companies in the country- including Travelers, Safeco, Hartford, Liberty Mutual, ASI/Ark Royal, Foremost, and Progressive- and is rated A+ by the Better Business Bureau.
SOURCE HomeInsurance.com
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