The short answer: weather and shared risk.
When a wave of major storms strikes Ohio, or anywhere in the United States for that matter, your carrier uses insurance premiums to pay
claims to help customers, like you, recover. If they expect more storms, your rates increase. Ohio has been rocked with several devastating storms this past year, from hail storms to tornadoes. Simply stated, a greater frequency and severity of storms create higher premiums, regardless of whether or not you have had a claim.
Experts identified causes for the increase, but the two major reasons are:
- An increase in severe weather events: The effect of La Niña, which causes a collision of cooler and warmer air over the United States, has agitated rougher weather this year.
- The growing population: More people means more buildings and structures lying in potential paths of destruction
