From Loyal Reader: Question about Nationwide Insurance...

"Do you know what is going on with our regular Homeowners Ins? Nationwide sent me a cancellation Notice, and referred me to another Company. I just got my premium and it is through the roof just like my blood pressure since I opened the envelope. Last year I paid $604, My new premium is $1386.00. I have never had a claim with my regular homeowners policy? I'm sure I need to look around, do you have any suggestions?"

From my experience, when my house had to be inspected for renewal of my Citizen's windstorm policy, they required a "four point" inspection - which included the major systems in your house, including electric. My house was built in 1951 and has much of its original electric. It is on my list to upgrade, but it amounts to a very tidy sum. Well, it turns out they cannot write a "windstorm only" policy if one of your systems does not meet current standards. However, it had no effect on whether I could still carry property/casualty insurance. So, if God forbid, my house burns down due to an electrical fire, my property/casualty policy will cover the damage. Citizens wouldn't be on the line for a cent, since it wasn't caused by wind. Does this make sense to you? I see it as the insurance industry mandating reduced risk through legislation to lessen their exposure. It stinks.  I am insured by Nationwide and just paid my policy for the year without a drastic increase.

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