No one likes for insurance rates to go up. But a perfect storm of factors could be driving up rates for homeowners' customers across the country, especially in the Southeast. A combination of high population growth, fluctuating cost of building materials, and an increase in major weather events like hurricanes and floods are leading to premium hikes in several areas. And while it may seem like this should be an issue for specific locations, huge claims events like a hurricane affect the entire industry. If you have noticed your premium creeping up, it is worth considering how exposed your property is to major weather events. It is also important to know that this is an industry-wide change, not something just happening to you. As your agent, we always look for ways to make your insurance work for you. We actively try to keep your policy as effective as possible without breaking the bank. We are always here to help answer your questions and inform you about what is happening in our industry. And we hope that sunny weather—figuratively and literally—lies ahead. |
Stormy factors could lead to Homeowners' rate increases.
