If you’ve noticed your insurance premiums increasing, you’re not alone. Many homeowners and drivers across North Carolina are seeing rate hikes, even if they haven’t filed a claim. While this can be frustrating, understanding the reasons behind these increases can help you make informed decisions about your coverage. At Sizemore Insurance, we’re committed to helping you navigate these changes and find ways to keep your insurance costs manageable.
North Carolina is no stranger to hurricanes, heavy storms, and flooding. The rising frequency and severity of these weather events have led to higher claims costs for insurance companies. As a result, insurers adjust rates to ensure they can cover future claims. Coastal areas, in particular, have seen significant increases due to wind and flood risks.
The cost of building materials and labor has surged in recent years. When a home is damaged, repairs or rebuilds are more expensive than they were even a few years ago. Insurance rates reflect these rising costs to ensure adequate coverage for property repairs and replacements.
From supply chain disruptions to rising vehicle repair costs, the auto industry has seen significant price increases. With more drivers on the road and an uptick in accidents, insurance companies are paying out more for claims, leading to higher premiums for policyholders.
General inflation impacts nearly every industry, including insurance. As the costs of goods and services increase, insurance companies must adjust rates to keep up with the rising cost of claims payouts.
While rate increases are a reality, there are steps you can take to reduce your insurance costs without sacrificing coverage. At Sizemore Insurance, we work with multiple carriers to find the best options tailored to your needs. Here’s how we can help:
Combining your home and auto insurance can often save you up to 15%. Bundling policies with the same provider can unlock discounts and streamline your coverage management.
If you can afford a higher out-of-pocket cost in the event of a claim, raising your deductible may lower your monthly premium. We can help you determine the right balance between savings and protection.
Many insurance providers offer discounts for things like safe driving, home security systems, and claim-free histories. We’ll review all available discounts to ensure you’re getting the best possible rate.
Your insurance needs change over time. An annual review allows us to make adjustments that better align with your current situation, whether that means updating coverage, removing unnecessary add-ons, or switching carriers for better rates.
As an independent insurance company, we have access to multiple carriers, allowing us to compare options and find a policy that fits your needs and budget. If your renewal rate increases significantly, we can explore alternative providers that may offer better pricing.
At Sizemore Insurance, we believe in personalized service and finding smart solutions to keep your coverage affordable. If you have questions about your insurance rates or want to explore your options, our advisors are here to help.
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Let’s work together to find the best coverage at the best price—because protecting your home, vehicle, and future shouldn’t break the bank.