There could be several reasons why the cost to cover your home has gone up this year. Here are some possible factors that could contribute to an increase in insurance premiums:

Inflation: Insurance premiums are influenced by the overall increase in prices and the cost of goods and services due to inflation.

Construction Costs:  If the cost of building labor or other factors relevant to your home insurance policy has increased, it can lead to higher premiums.  The past year or so has seen historic rises in construction costs. 

Changes in coverage: If you’ve made modifications to your insurance policy, such as adding additional coverage options or increasing coverage limits, your premium will likely increase to reflect the expanded coverage.

Local factors: Insurance premiums can be affected by local factors such as the increased exposure from climate – related perils such as wildfires and severe weather events in your area. 

Reinsurance costs: As general costs increase and natural disasters become more frequent in certain areas, the cost of reinsurance (insurance for the insurance company) increases, adding to the general overhead costs. 

It’s essential to review your policy documents or contact your insurance provider directly to understand the specific reasons for the increase in your home insurance premium. They can provide detailed information and help you make informed decisions about your coverage.