Even if you never have a claim, premiums will always increase some due to the cost of repair and replacement increases. On a positive note: It appears that the huge increases of the past 3-4 years may be declining. This year, the improved weather so far (through 8/29) has reduced the number of Minnesota catastrophe losses. However, the weather forecast for August 30-31 includes severe weather, which could bring major losses again. There are other factors beside the weather that impact premiums, such as insurance company investment returns, the volume of non-catastrophe related losses in your geographic area, age of your home, construction materials that make up your home, fire protection in your area, your personal claims history, your pets, your coverage, your credit score and more. It may surprise you that homeowner's insurance in Minnesota is not a profit center for most companies.
