Higher insurance premiums hit NM homeowners

New Mexico Business Weekly - The 2011 HomeInsurance.com RateReport released Wednesday shows a significant hike 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 carriers such 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 to 39 percent higher premiums than those sold in January 2011. Read More News New Mexico

Higher insurance premiums hit NM homeowners