Don't you suppose that if the value of a property increases, you'll probably want your insurance coverage to rise as well? If you increase your coverage, then you have to expect higher premiums. Something for nothing is an illusion. One way or another, everybody pays. Of course, you can always under insure your home but if something bad happens, you'll find that your insurance won't replace your losses.

Combine higher property values with massive insurance payouts due to all of those hurricanes and it isn't hard at all to see why premiums have increased. Here in Colorado Springs, we don't have to worry about hurricanes (although we had hurricane force winds in a storm last week), earthquakes, or many other types of natural disasters. However, we do get a lot of hail damage. As an example, we had a storm back in 1993 that did over $100 million in damage in less than an hour. As a result, my insurance company raised the deductable for roof repairs to $2000 a few years ago. It was either accept that or find another insurance company but most of the others also increased their deductable.