Why Are Home and Auto Insurance Rates Going Up?

If you’ve noticed your insurance premiums increasing lately — you’re not alone. Across the country, homeowners and drivers are seeing higher rates, even if they haven’t filed any claims.

So, what’s going on?

Let’s break it down clearly.

🏡 For Home Insurance:

• Construction costs are up.
  Lumber, labor, and materials have gotten more expensive. If your home needs repairs after a claim, it costs more to fix — so insurance companies are adjusting to cover that risk.

• Severe weather is more frequent.
  Storms, wildfires, and flooding are hitting harder and more often. More damage = more claims = higher premiums for everyone.

• Rebuilding takes longer and costs more.
  Delays, shortages, and higher demand mean rebuilding after a loss isn’t as fast or cheap as it used to be.

🚗 For Auto Insurance:

• Repairs are more expensive.
  Modern vehicles have advanced tech — sensors, cameras, and smart systems. Even a small fender bender can cost thousands.

• More accidents are happening.
  Distracted driving, speeding, and busy roads are leading to more frequent and more serious accidents.

• Parts and labor shortages.
  Getting vehicles repaired takes longer and costs more, which means higher costs for insurers.

💡 What Can You Do?

Even though rates are rising, you do have options:

✅ Review your policy — Make sure you’re not over- or under-insured.
✅ Ask about discounts — Good driver, bundled policies, home security systems, etc.
✅ Work with an agent — At RISE Insurance, we help you compare options and find the best fit for your needs and budget.

🛡️ We’re Here to Help

Insurance is meant to protect you — not stress you out. If your premiums are going up and you’re not sure why, let’s talk. We’re happy to walk you through it and help you stay covered without overpaying. 📞 423-541-1111