With the new year well under way, many are seeing their insurance policies renewing at a higher rate in 2024. From Auto to Homeowners insurance policies; everyone can feel the effects of inflation and rising costs.
According to a recent survey from Trusted Choice, 69.3% of American insurance policy owners have begun to review their policies with 45.8% indicating a rise in premiums being the cause. Other findings in the study include 46.6% considering selecting plans with higher deductibles to lower premium costs, 83% would switch insurance companies for more savings, and 22% are thinking about dropping their policies (going uninsured) and leaving insurance out of the equation entirely.
The reasons for elevated insurance premiums stem from unprecedented losses due to rising inflation, natural disasters, reinsurance costs, etc. Fortunately, many Americans are finding success buying insurance policies, switching plans, and finding savings with insurance agents. As stated in the survey; 56.3% of Americans prefer to approach their insurance business with insurance agents, while 36.3% buy insurance through an insurance companies' website separately.
With the current market of high insurance renewal rates, we here at Atlantic Insurance & Benefit Co. would be so happy to help find the best deal with the most savings for you.
Is your Auto or Home insurance policy renewal increasing by more than $100?
Please give us a call at (603) 882-2909, send us an email, or fill out our online form(s) for your Auto and Home insurance quotes today!
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