Some factors customers can’t directly control include:
As with many products, the costs of building materials and labor increase over time. Factors like inflation, supply chain challenges and labor shortages can drive repair costs up even more.
More frequent and extreme natural disasters, like thunderstorms, floods, wildfires, hurricanes and hail, have caused catastrophic losses across the country. The higher cost of these events can cause premiums to rise, especially in areas most prone to these losses.
Different areas vary greatly in the number of losses that happen, which can impact your premium.
Some additional things you can do to decrease your premium include:
Choosing higher deductibles can have a significant impact on lowering your overall premium. That said, be sure to select deductibles you’re comfortable paying in the case of a loss.
New systems like electrical, heating, plumbing or roofing can earn you a credit that lowers your premium. If you’ve updated any of these systems recently, be sure to let us know.
What is my role in the process?
It can be expected that your premium will fluctuate up or down upon each renewal. It’s important to take the time to review your policy information each renewal to make sure you’re getting all possible discounts, and that your coverages are adequate and necessary. Your coverage needs may also change. Perhaps you had a scheduled jewelry item on your policy and you sold it. You can make sure your policy is up-to-date by reviewing it annually, and any time your coverage needs change.
We’re always happy to discuss your policy discount and coverage options with you to make sure you’re getting the best price and protection.