The Atlanta Journal Constitution says homeowners in Georgia are facing home insurance rate hikes from four of the largest insurance companies in the state.
Citing statistics from the Georgia Department of Insurance, the Journal Constitution says policies could go up by between 5 percent and 11 percent this year.
The news source has Martin Grace, a Georgia State University professor of insurance and risk management, on the record saying that home insurance rates could be on the move because of worry over vulnerability to hurricanes or because the state has typically had lower-than-average rates compared to neighbors in the Southeast.
June 1 marked the first day of hurricane season and Georgia's insurance commissioner John Oxendine said consumers need to check their home insurance plans annually to ensure "adequate coverage."
Renters are not immune to damage either and might need a separate policy to ensure their belongings are protected - do not rely on landlord's coverage, says Oxendine.
Discover how easy shopping can be. Get your free home insurance quotes now.
Posted: June 15, 2009
Related Home Insurance Articles
- Experts offer swimming pool advisory June 12, 2009
- Hurricane season a pressing threat for property owners June 01, 2009
- Home insurance costs an additional consideration June 01, 2009
- Homeowners insurance rates to climb in some states May 27, 2009
- Flood coverage an option for renters, too May 18, 2009
- Consumer needs surpass home insurance coverage May 13, 2009
- Fire spurs many to consult homeowner insurance policies May 8, 2009
- Graduates hunting for jobs, renters insurance May 7, 2009
- FEMA advises homeowners to purchase flood insurance April 29, 2009
- Property insurance industry profits down sharply April 29, 2009
