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For some time now, many consumers have watched with dismay as the costs they face for the various types of insurance coverage in their life have increased, but the fact is that they had to continue paying them regardless. Now, though, it seems that the costs for at least one of those might continue to rise next year, which may cause more angst every month. For this reason, it might be wise for home insurance agents to do everything they can to explain to clients why costs might be going up, and what consumers can do to reduce their risk and premiums going forward.

This past year, the average amount of money consumers paid for their home insurance was only about $1,000, but the actual number varied widely on a state-by-state basis, according to a report form the Home Buying Institute. For instance, Floridians paid close to $2,000 for their coverage over the course of the year, while those in Idaho paid the least, at just $518.

What's behind it?
The reason for the huge disparity between largest and smallest home insurance premiums in the country is, of course, risk, the report said. Homes in Florida are more likely to be hit by something disastrous, such as a hurricane, than those in Idaho, where the risk of things like tornados or earthquakes is extremely limited. And because there were relatively few major disasters across the country this year, there may not be much of a change for many people in those places. But in others, such as Buffalo, New York, where lake effect storms blanketed the area with several feet of snow in just a few days in early November, there might be an uptick.

Consumers will certainly have to monitor their home insurance plans closely to make sure they're not being affected by a premium increase, but the fact is that many will see such increases. For these reasons, it might be wise for insurance agents in areas with high concentrations of premium hikes to explain the changes carefully, and potentially help those people find other discounts for which they may qualify, as that can serve to bring the price back down again. The ability to provide both high-quality customer service and discounts simultaneously often leads to the highest possible satisfaction and retention rates for agents.

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