With home foreclosures rising throughout the country and in my opinion will continue to go up until the market hits rock bottom in 2014 are eroding home insurance companies profits at an all time pace.

Home Insurance Companies are getting very nervous as they are watching their premiums drop in half as people lose their homes and letting their home insurance drop.   The other major problem they are now faced with is the addditional exposure they have when the home is vacant.  A vacant home is a prime target for theives to break in and strip a home, not to mention the increase exposure for arson.  Michigan Home Insurance companies have experienced more “grounders” (total fire losses) over the last year than any other time this century.   The news is not good for homeowners as home insurance companies will now be faced with improving their bottom line to remain solvent and the fastest way to do this is to increase rates.   Let’s just hope the Obama Administration does not get involved or we could be looking at them passing out more of our tax dollars as they see fit.