The Cost of Homeowner's Insurance

This is my annual homeowners policy premium for a 1200 sq ft home, with a detached garage and for a non smoker. The price has increased by 55% in 7 years, even though there were no claims during that period. The insurance covers: dwelling for $158,000, other structure $15,800, personal property $110,900 and loss of use $47,400. The deductible is $500. The homeowners insurance is paid by my mortgage company, that way I do not have to send a separate payment. This, together with property taxes makes it to just one monthly payment to the mortgage company.

I have been with the company for many years, and their customer service is very good. Since I did not have any claims I really do not have any personal experience at how they handle losses, actually I would like to keep it that way. As far as the yearly premium goes, I am a little surprised that it went up by 55% even though there were no claims, however, since everything went up in 7 years, including the value of homes, I imagine they are justified in raising the premium.

It is good to go with a reputable company, that has been in business for a while. Having recommendations from family and friends does not hurt either.