Business

Big homeowner insurance premium increases hit hard

Graphic by Flatwater Free Press

By Sara Gentzler
Flatwater Free Press
When Jenn Burruss got home from work last Wednesday, she started cooking dinner and opening mail. She saw her annual homeowners insurance renewal notice and shuffled it to the bottom of the pile.
When she finally opened the notice, it laid bare a painful question: Could she, a single woman raising three kids, afford to keep her house?
Last year, the premium to insure her home in Hickman, a city of 2,600 people south of Lincoln, was just over $1,400. Now, it would be almost $2,900.
“I am terrified,” she told the Flatwater Free Press, noting her property taxes also are increasing. “I don’t know how long I will be able to stay there.”
Steep increases in homeowners insurance premiums have become common in Nebraska.
On average, Nebraska homeowners paid nearly twice as much to insure their homes in 2020 as they did in 2007, a sharper increase than most other states, according to data provided by the Insurance Information Institute.
Read the complete story by Sara Gentzler in the Oct 4 Albion News/Boone Co. Tribune, print and e-editions.