You may recall in 2005 when insurance rates leapt up - Hurricane Katrina and other gulf storms hammered the coast, causing wide spread damage and destruction. The problem has caught the attention of Congress, where two bills were debated to try to improve both the cost and availability of homeowners insurance in areas where issues like hurricanes and the like are a concern. Representative Ron Klein (D., Fla.) introduced the Homeowners' Defense Act earlier in the spring to try to create a national catastrophe insurance pool to spread the risk of natural disasters. As of yet, it has not passed, in November of 2007, it did clear the house. In Feb 27, 2009 it had been read twice and referred to the Committee on Banking, Housing, and Urban Affairs. It is fairly clear that this bill is quite possible stuck where it is.

Industry insiders feel that it is really doubtful that this bill will ever make it to law, and while it may make headway in the House, the problems will arise when it hits the Senate, said John Prible, the assistant vice president for federal government affairs for the Independent Insurance Agents & Brokers of America. "In the Senate, legislators from states with little disaster risk aren't eager to appear as if they're subsidizing states at the most risk," Prible says, "In the House, representatives from more populous states like Florida have more sway."

Insurance agents may not have many options, though- as they, too face tremendous issues in the way they insure due to the banks bringing the pressure on homeowners to carry policies that in some cases, they will never need- while others face heavy rates on policies that they do. It seems a cycle that is never ending, and many fear that it never will. There are, however some ways that you as a homeowner can work with your insurance agent to perhaps change things in your own policy to ease the impact on your wallet a bit.

So what can the homeowner do to better balance the way that insurance rates hit them? Being able to talk with your insurance agent about improvements to your home, possibly upgrades and additions that enhance safety and security can often help to lower rates. Also, making sure that you are clear on what sorts of incentives your insurance offers for various improvements and changes can lower your premiums, sometimes quite dramatically.

Being able to make changes to the way you pay for your policy, or even in the way that you do things around the house can make changes in the pricetag, as well. Often, because of issues beyond both the homeowner's control and the insurance agent's, there isn't much that can be done about the coverage issues facing those in areas where catastrophic events do occur, but, in speaking with your agent there may be ways you can balance things a little more in your favor.



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