Today I received a mail from Safeco, my insurance company for home and car, regarding increase in homeowner insurance premium for the next 12-month period starting in August. The annual premium is increased from $329 to $364, a 11% increase.
Behind the increase, Safeco also mentioned that coverage is increased from $200,000 to $218,000 for dwelling structures to cover raising cost of building materials and labor and proportionately for other coverages (namely other structures and personal property).
I found this premium increase perfectly acceptable. Actually, I was wondering whether my original $200,000 coverage is enough for a while in the last few months, and this additional coverage amount gave me some more confidence in the event of an disaster.
On a related issue, I am still considering whether to buy an earthquake insurance. I hope to make a decision in the next couple of months.