Four Ways to Save Money on Home Insurance as Rates Rise

Homeowners had to shell out more money for mortgage payments, routine maintenance and heating costs this year as quickening inflation and rising interest rates strained monthly budgets. One more bigger bill to add to that list: home insurance.

Home insurance premium rates rose 9.3% from Jan. 1, 2021, through Nov. 25 on average nationwide, according to S&P Global Market Intelligence data. The Insurance Information Institute, an industry trade group, also known as Triple-I, said premiums are likely to rise further in 2023.

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