All the insurance companies are raising the cost of their products. But if you think the rise in auto insurance is soaring, you might want to brace yourself for when the homeowners policy is up for renewal.
Good luck shopping around. I have Travelers and my Home and Auto went up 30% each. I got quotes from EVERYONE and Travelers still wound up being the lowest for me. In talking to different agents I was basically told the same thing over and over - rates are up because new car replacement costs are high as all hell, accidents have increased substantially, claims since the covid lock down ended have skyrocketed, costs of goods and material are high, and Erie insurance even told me it is because JEEPS are getting expensive to insure.
Homeowners insurance just killed a dream we were finally fixing to execute when all the major insurance companies decided to quit writing policies for beachfront properties in Texas. And they defined beachfront as something like within 3 miles of the beach. Umm, 3 miles from the beach isn’t beachfront IMO. Hell, in a lot of cases that’s the next town over.
Y'all are in two of the most expensive auto insurance states in the country.
