Rate Increases: A General Primer

Trying to discern why your insurance rates have increased can be a very tricky proposition. Here are some of the more common reasons why rates can change from one renewal to the next:

• Recent claim activity
• A discount you were receiving changing
• General rate changes in the state you reside
• Changes to the structure of the policy, or different cars or additional drivers

When a rate increase happens, the best thing to do is to work with your agent! He or she may be able to identify opportunities for additional savings through new discounts and changing deductibles or coverages.

Rate increases are certainly not ideal, but with good communication with your agent, they can often be mitigated.