We have home owner's insurance for our co-op apartment through State Farm. Our insurance last year was $253. This year it's $292. We vaguely remember the year before it was $225. Since last year, it increased the value of our building by $400 and our personal property by $800. The total personal property covered is around $42,000 now. While what we, like most people own, is depreciating assets, I guess they assume you're continually purchasing more stuff.
It has the same amount of liability coverage (which is what we're most concerned about) and deductibles as before.
So far we've looked at Geico, Farmer's and Liberty Mutual and they're all higher.
My question is, what gives? Why is it going up so fast? Is it going up fast? Might it have to do with crime rates? Is there any way to bargain State Farm down without a lower competing offer?