HomeownersInsurance.com Releases Report on the Insurance Marketplace

Average annual home insurance premiums in Mississippi increased 15.5 percent during the second quarter of 2014 - the largest hike of any of the 25 states that experienced increases, according to the HomeownersInsurance.com Premium Report.

HomeownersInsurance.com noted that the report represents new policies sold by HomeInsurance.com to Mississippi homeowners, who experienced an average annual premium increase of $157/year over the prior quarter.

According to the report, the average premium for Mississippi homeowners climbed to $1,170 a year.

Nationally, premiums rose to $829 during the quarter, about 2.1 percent higher than in the first three months of the year. But Mississippi was the only state where the percentage increase hit double digits. The state faces many threats - hurricanes and flooding in the southern half and tornadoes in the north.

"Because of all the factors that go into setting home insurance premiums, it's always difficult to pinpoint the reasons for fluctuations," says Jana Bell, VP of HomeInsurance.com - the parent company of HomeownersInsurance.com. "But policyholders in all states should consider ways to reduce how much they pay for coverage without diluting it."

In 2013, Mississippi ranked number 6 in the state for estimated insured catastrophic losses in the United States.

HomeownersInsurance.com is an insurance marketplace.

More Information and complete details:

HomeownersInsurance.com

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