The Detroit News. Homeowners insurance has undergone changes in the past few years, from higher premiums to more restricted coverage. The land under your house isn't at risk from theft, vandalism, fire and other perils.
Retirees stay at home more and spot fires sooner than working people.
They also have more time to maintain their homes. Rate increases are determined by a multitude of factors and can vary greatly among companies and locations. Unless you have federal flood insurance, damage from flooding is typically not covered by standard policies. With sewer backup coverage, for example, an insurance company in the past might have paid for a damaged carpet, minus the deductible.