Home Delaware Homeowner’s insurance rate rise in Delaware among lowest in nation

Homeowner’s insurance rate rise in Delaware among lowest in nation

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Delaware ranked 40th among the 50 states when it came to increases in homeowners insurance  rates. 

The report was issued by QuoteWizard, a part of the Lending Tree group of companies.

Every state saw an increase in homeowner insurance rates between 2007 and 2016. Delaware saw a 46 percent increase, with Oklahoma owners seeing a 78 percent increase during that period.

States, such as Oklahoma,  with its  large number of tornadoes were prone to big increases, QuoteWizard noted.

New Jersey, which suffered damage from Hurricane Sandy also saw a sharp increase in rates. Rhode Island ranked in the top10.  Nearby Pennsylvania ranked 41st.

Nearly two-thirds of home insurance losses come from wind, hail, and water damage.

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The information was based on the  National Association of Insurance Commissioners 2016 report, the latest full-year data available. 

 

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