Home insurance rates have significantly increased, showing a 23% rise last year and a 55% increase since 2019, as reported by Guaranteed Rate Insurance. Factors contributing to this trend include severe weather events and inflation, which have driven up costs for home repairs and replacements. Experts advise homeowners to consider various strategies to reduce premiums, such as raising deductibles, shopping for better quotes, and implementing home security measures. Additionally, bundling insurance policies and improving home resilience against natural disasters can lead to potential savings.
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