7 surprises of home ownership

Insurance can be a hassle

Not only can an insurance company drop you at any time, it can force you to make an immediate repair and threaten to drop your coverage if you don't.

Yes, home insurance inspections are rare, but your insurer can order one. In addition to required repairs, you could pay higher premiums as a result of the inspection.

Another instance in which you'll face higher premiums: If you ever file a claim, no matter the reason. An InsuranceQuotes.com study found annual premiums increased an average of 9%, or about $150, following a claim. Some states fared much worse than others, according to the study. In Connecticut and Minnesota, for example, the average premium increased a whopping 21% following a single claim.

You can't get around having insurance unless you own the house outright. And it isn't cheap.

The average annual homeowners insurance premium cost $909 in 2010, according to the most recent data from the National Association of Insurance Commissioners.

And it's far more expensive if you need supplemental flood or earthquake insurance.

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