Thunderstorm capable of producing tornadoes approaches grain silos in Iowa. Photo by John Huntington, available via Shutterstock.
Rick Morain is the former publisher and owner of the Jefferson Herald, for which he writes a regular column.
A few weeks ago, our homeowner’s insurance carrier sent me our annual premium notice for the 12-month period beginning April 10, 2024. The valuations of our house, garage, and personal property had climbed almost 7 percent higher than they were for the previous 12-month period. That wasn’t a surprise. In fact, I was somewhat gratified by what the carrier says is the replacement cost of our property now.
But the premium! Ay, there’s the rub. It was more than 50 percent higher than the previous 12-month renewal contract.
How could that be? I had no idea.
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