If you’ve opened a renewal notice lately and were surprised by a higher premium, you’re not alone. Many policyholders are seeing their rates rise—even without any claims. It’s frustrating, and as your local independent insurance agency, we want to help explain what’s happening—and how you can respond.
What’s Causing Insurance Costs to Rise?
Several economic and environmental factors are driving premiums higher across home, auto, and business insurance policies:
Home Repairs Cost More Than Ever
The cost of building materials and labor has increased dramatically in recent years. As a result, it’s more expensive for insurance companies to repair or replace damaged homes—which drives up policy costs.
Weather Disasters Are More Frequent and Costly
Storms, floods, wildfires, and other natural events are happening more often and doing more damage. Insurance companies are paying out more in claims, so premiums are rising to offset the risk.
Cars Are Pricier to Fix
Today’s vehicles are packed with advanced technology. While they’re safer, repairing them after an accident costs more—and that gets passed on in the form of higher auto insurance premiums.
Reinsurance Is Getting More Expensive
Insurance companies rely on “reinsurance” to protect themselves from large-scale losses. As reinsurers raise their own prices, insurance carriers adjust their customer rates to match.
What You Can Do If Your Insurance Premium Goes Up
While you can’t control the global economy or weather patterns, you can make strategic choices that may help lower your costs or keep your coverage optimized:
Get Help from an Independent Agent
We work with multiple insurance carriers—not just one. That means we can shop around and compare options to find the right policy at the most competitive rate.
Take a Fresh Look at Your Policy
A quick policy review can reveal unnecessary coverage, outdated limits, or missed opportunities for discounts.
Explore Bundling and Discount Programs
Combine your home and auto insurance for a discount, or opt into a safe driving program for additional savings. Ask about loyalty, claims-free, or security system discounts.
Improve Your Risk Profile
Whether it’s replacing an aging roof, installing a security system, or reducing your mileage, small upgrades can lead to long-term savings.
Be Proactive Before Renewal Time
Don’t wait for a surprise bill. Let’s check your options in advance so you have time to pivot if needed.
You Don’t Have to Navigate This Alone
At Preddie and Associates LLC, we’re not tied to just one insurance company—which means we’re free to focus on you. We’ll help you understand any changes in your premium, walk you through your options, and advocate for your best interests every step of the way.
Worried about rising insurance costs?
Let’s talk. We’ll review your current policy, answer your questions, and make sure you’re getting the protection you need—at a price that makes sense.