Ron Siegel Radio featuring Scott Schaeffer

Rising Insurance Rates: What Every Homeowner Needs to Know

As a homeowner, dealing with rising insurance rates can be a daunting task. It's not just about finding the right coverage, but also understanding the complexities of the insurance market, especially with recent changes in California. Today, we’re diving into this critical topic with insights from Cory Newow of Next Tier Insurance Services. Let’s explore the challenges and solutions available to protect your home and your wallet.

Understanding the Current Insurance Landscape

Insurance rates have been skyrocketing, and it’s not just a California issue. States like Florida are also feeling the pinch. Why? Insurance companies are pulling out of certain markets or dramatically increasing premiums due to higher risks and regulatory restrictions. For example, the California Department of Insurance limits how much premiums can increase annually, making it difficult for companies to stay profitable. This has led to a reduction in available policies, pushing more homeowners into higher-cost non-admitted or fair plans.

The Impact on Homeowners and HOAs

Homeowners and Homeowners Associations (HOAs) are both feeling the effects. We've seen premiums double or even triple, causing significant financial strain. HOA members, in particular, are hit hard as the cost of master policies covering entire communities skyrockets. Cory highlighted a case where an HOA’s annual premium jumped from $100,000 to $300,000, leading to hefty special assessments for residents.

What Can Homeowners Do?

  1. Consider Higher Deductibles: Raising your deductible can lower your premium. It’s a balancing act – save money on premiums but be prepared for higher out-of-pocket costs in case of a claim. To mitigate this, consider setting aside funds specifically for your deductible in a Roth IRA or utilizing home equity through products like the RSR Home Select.
  2. Shop Around: Don’t just accept the first renewal notice you get. Insurance underwriting guidelines are constantly changing, so it’s crucial to explore different options and find the best fit for your situation.
  3. Home Improvements: Some insurers offer discounts for homes with updated features like modern electrical panels or water shut-off devices. These improvements can make your home safer and more attractive to insurers.

Navigating HOA Insurance Challenges

For HOA members, it’s essential to understand your association's policy and advocate for proactive measures to manage costs. This includes pushing for higher deductibles and ensuring your community meets modern safety standards.


Staying informed and proactive is key to managing rising insurance costs. If you’re facing challenges with your insurance or need guidance on your mortgage options, I’m here to help. Reach out to me anytime at 800-306-1990 or visit Together, we can navigate these complexities and protect your most valuable asset – your home.

For more insights and personalized advice, don't hesitate to contact me directly or visit Let's turn knowledge into action.



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My name is Ron Siegel, Radio Host and Branch Manager at Geneva Financial. And I'm dedicated to helping homebuyers like you get pre-approved on your mortgages across America. Whether you're purchasing, refinancing, downsizing, buying a rental, or even your first mortgage, we got you covered. Specifically, I'm licensed in these states: California, Idaho, and Texas. Our Company is licensed in 48 States. For more licensing information, please visit

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