Are Mississippians paying too much for homeowner's insurance? One website claims premiums have increased more than 15 percent in our state.
Mississippians are paying the third highest premiums in the country, according to Homeowners Insurance dot com. With this astonishing number, we took the information
"I know about rates. I approve rates in the state and I haven't approved a ten percent increase," said Commissioner Mike Chaney. "And by the way, we don't do rates on a quarterly basis, they do them on a yearly basis and they are phased in."
The data the website provides says our state has seen the greatest increase in average homeowners insurance premiums since the beginning of 2014, increasing 15.5 percent for the second quarter.
"It would be hard to get that data unless you made it up and most of their data is made up," added Chaney. "That is just pure bunk."
The website, based out of North Carolina, shows homeowners are paying about 1,177 dollars for home insurance. However, the website does not state how much homeowners were paying for the first quarter.
I called Carrie Van Brunt Wiley from Homeowners Insurance dot com to ask, she told me the average premium for the first quarter was 1,013 dollars, a 15.5 percent increase. Chaney says their numbers are wrong and this company has other motives.
"When we checked it out, it's a group of people that represent ten insurance companies they do market over the Internet," said Chaney. "What they are trying to do is sell insurance to people in Oklahoma, Mississippi, Louisiana, Alabama and Florida. We are going to investigate these folks."
Homeowners Insurance.com released the following statement:
The data we are reporting are average premiums in Mississippi based on new policies we sold in the area during that time period. It is not intended to represent all policies in Mississippi. This may or may not be caused by rate increases set by the DOI, but they are still actual average premiums our customers are paying through the carriers listed on our website.
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