Homeowners could face price gouging

[Guest guest]

http://www.wilx.com/news/features/4/305976.html

Consumer WatchAssociated Press

A survey of information collected by states shows the cost of homeowners' insurance rose 13 percent last year. And, that's the average. Texas reported a 57 percent surge in those prices. Hunter, the director of insurance for the Consumer Federation of America, thinks some of the increases border on price gouging. He says it's possible that many people are being charged too much. Homeowners can fight back against rising insurance bills, primarily by comparing rates. Hunter says you can pay twice as much from one company to another for exactly the same coverage, so shopping around is very important. If you're facing a huge rate increase and cannot find a cheaper company, consider increasing your deductible. Hunter says raising your deductible from $250 to $1,000 could knock anywhere from a-third to 40 percent off your premium. So, you could even wind up paying less than you did before the most recent price increases. read press release http://www.consumerfed.org/HO_PRESS_RELEASE.pdf