How the heck can a homeowners insurance company force you to pay for over twice the value?

I am just venting but I called other companies and they all say the same thing. In 2005 my policy was for $ 60,000.00 dwelling and today I recieved the policy and it called for over $ 109,000.00 coverage? I wrote my Senator and filed a complaint with the state’s insurance division. Seems like a ripoff to me. I have NEVER had a claim and don’t intend to. To me it is just the idea that they can double my house value in two years time……..
Thank you all for your answers and i am not very good at ANYTHING when I am flustered. The comment about not intending to have a claim was made because I have alot of friends if I buy the materials they will fix my problems without ever contacting the insurance company.
I guess it was anger that prompted me to even ask. I recently became disabled and set a budget….now this will affect my mortage payment. Oh well…
It just seems everything is going up but my earnings which went down 75%. THAT is my problem and I will deal with it….thanks again.
Also….I may be wrong but the house is in a small midwestern town and frankly I could replace it…or something similar for alot less then what I am covered for.
I am just amazed at what happens to you when you get disabled…..and I wish it to happen to no one. Have a happy new year.

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