Why Home And Auto Insurance Rates Are Continuing To Rise In 2023.

Allen McGinniss, June, 27, 2023

 

 

Thanks to an unusual convergence of market trends, ushered in by the pandemic and followed by other disruptive events, you will see a bigger change to the cost of your home and auto insurance than usual when it comes time to renew your policies this year.

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Insurance rates are based on what an insurer thinks it will cost to make you whole in the event of a loss – whether it’s roof damage during a windstorm or a vehicle totaled during a traffic accident. As you’ve likely noticed, pretty much everything costs more than it did even a few years ago.

 

Here's the story.