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This burns my butt. Just got my annual Homeowners Invoice... our Premium is going from $586 to $671. Of course I understand that, like most areas in the US, our Home Value has appreciated during past year. But this Premium increase seems out of line--like price gouging customers who are asleep at the wheel. That is, comparing the two policies year-to-year the Basic Dwelling ("Coverage A") Value/Limit went from $334,300 to $357,700 which is a 6.9% increase. Meanwhile the Premium increase of $85 is a 14.5% increase. So the Premium went up almost 2x more than the Dwelling Value or almost 2x the rate of our out-of-control 8% inflation.

I'd much rather spend that $85 on 3 boxes of steel shells or even spring for a box of TSS!

Of course I have encountered this before, not only on Homeowners but also on Auto insurance. The Insurance Companies offer a "New Customer Discount" or may not even call it such, but basically it is devised to give a low price initially all the while the insurance company is planning to increase the Premium not more than a year or two later. Many consumers glance right past the increased price and many who do notice it don't want to go through the effort of getting Quotes elsewhere, finding a better apples-to-apples price, switching insurance companies, handling any loose ends if there is a mortgage with insurance held in escrow, etc.
We own this home free-and-clear. If it burnt to the ground it wouldn't ruin us financially. Heck, we would rebuild with a floor plan that we like better! i.e. we could self-insure (in fact we have done that before on another home where Flood and Wind/Hail were recommended). The biggest risk I foresee is if some numbnuts or Con Artist gets hurt tripping over our front curb etc. and tries to take our life's savings. I've purchased Umbrella Policies before--not sure if I could get one without also purchasing Homeowners Insurance.
Any input/advice on this subject? I will even accept input from anybody who is an Insurance Agent, although you can probably tell I am no fan of the Insurance Industry...in the long run the consumer/collectively does not win.