With 2013 in full swing, more and more homeowners insurance renewals are beginning to show up, and the main thing that everyone is noticing – higher premiums. This isn’t happening on just certain occasions, unfortunately it’s happening for every person who owns a home in the state of Colorado.
The reason for these increases, which come as a surprise to most people, are a direct result from losses in hail and fire storms in Colorado the past few years. You should recall some major fires in Fort Collins and Colorado Springs, along with many others that have equaled up to hundreds of millions of dollars in losses.
“Insurance premiums are not impacted by a single disaster but based on claim patterns and trends over a period of years,” said Carole Walker, executive director of the Rocky Mountain Insurance Information Association.
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