Lynn Kirkman and her husband, Robert, moved into their forever home near San Antonio, Texas, nine years ago. But paying for their dream property has become significantly harder.
Last year, the cost of their home insurance policy skyrocketed by $1,000, marking a 40% hike. The couple now pays $3,200 a year for coverage. When they purchased the house, it cost around $1,200.
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Lynn Kirkman, a real estate agent from Texas, said she saved a couple of hundred dollars by shopping around for a different policy, but the sticker shock of the $1,000 rate hike still hurts.
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Individuals survey damage to a home in the 19000 block of Wapello Keokuk Road, about 1.5 miles southeast of Martinsburg, Iowa, was badly damaged in a severe weather storm on March 31, 2023.
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Individuals gather to survey the damage to a farm in northeastern Wapello County, Iowa, after a severe storm swept through the area on Friday, March 31, 2023.
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Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.