Arizona homeowner’s insurance rates skyrocketing, some hit with 50%-100% increase

“Historically, that’s what you plan for, maybe 5% to 10%,” said Conner. “But to see such a significant jump about 50% of annual premium increase was definitely a shock.” Homeowners insurance premiums …

PHOENIX (3TV/CBS 5) – Joe Conner is, like many Arizona homeowners, trying to keep his expenses in check. But the Phoenix dad had no control over the huge hit he just took on his homeowner’s insurance policy, which suddenly shot up more than $2,000.“Historically, that’s what you plan for, maybe 5% to 10%,” said Conner. “But to see such a significant jump about 50% of annual premium increase was definitely a shock.” Homeowners insurance premiums are skyrocketing across the state and around the country.Aliesha Brard with the Homeowners Insurance Group has been in the business for 30 years and says she’s never seen rates go crazy like this in such a short span of time.“If I see somebody that has a 20% increase I think that’s good,” said Brard. “But it’s not uncommon to see a 50% or 100% increase.”So why exactly are insurance rates climbing so high? Brard said its a comb …

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