Insurance premiums rates expected to rise

on Apr 13, 2023 03:32:PM

Insurance premiums are expected to go up anywhere from 7 to 60%, depending on the type of insurance. That’s according to Dante Weston who regularly deals with insurance cases. Weston says this isn’t just homeowner’s or renter’s insurance. He says he’s been seeing auto, and commercial policies get more expensive. “Make sure that your credit score is managed and as high as possible. Negotiate your rates is another option. If you’ve been with the carrier for a while, there’s nothing wrong with going to them and saying if I stay with you, will you give me a little bit of a discount,” he added. Weston recommends comparing rates among companies but warns about taking the cheapest price at face value. “Make sure you’re comparing apples for apples. Sometimes a couple $100 amongst savings might look good on paper. But in actuality, you’re going to get a lot less coverage. And then finally, we see discounts on the bundling side. We’ve all heard of insurance bundling, I think. And what that means is basically your homeowner’s policy or your renter’s policy as well as your auto policy or with the same company and often times consumers are getting discounts by going down that route,” he said. You can watch the entire interview here, which includes what he says is behind the price increases. Read more..

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