re: PSA: those who have State Farm homeowners insurance

quote:

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My premium jumped 35% this year. Since I pay through escrow, it was going to drive my mortgage payment up around $200/month. I switched to another company today and got my yearly premium back down to what it was the previous year. The lady on the phone told me that they're getting a TON of people switching over from State Farm.

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Unless you are putting in new systems, a new roof, etc...your homeowners policy will generally increase due to the home aging as well as an uptick in dwelling coverage to keep pace with inflation. This year that index will be a bit higher than usual due to a lack of building supplies, in particular wood, and high demand for labor based off the hurricanes from 2017. Now a 35% jump is a bit excessive but they will rate increases additionally to a statewide level based off the combined loss ratio. These are insurance market realities and while you might shop around and reduce the rate, it will eventually rise again over time as most everything else does over time. Your agent should have tried harder to assist you however from how it sounds and that would be at their feet.