Keeping homeowners insurance has become an increasingly tough task for millions of Americans, particularly those who live in the growing number of areas around the country prone to natural disasters.Major insurance companies, including Allstate and State Farm, have stopped renewing policies in extreme-weather states like California and Florida, forcing residents there to find another insurer at a higher premium.
' 'The approved adjustments to our California homeowners insurance rates are a necessary step toward aligning pricing to the risks that our customers are facing,' the company told CBS MoneyWatch in an emailed statement. Americans pay an average $2,153 a year, or $209 a month, for homeowners insurance, according to insurance industry data provider Quadrant Information Services.