Why Your Insurance Premiums Are Getting Pricier and What You Can Do About It

Many clients are dismayed by the rising costs of their insurance coverage. A common question I am asked is:

“If I didn’t file a single claim this year, why would my insurance company raise my rates?”

There is no one answer to this relevant question. Many factors go into determining how much insurance companies charge for coverage. Like other markets, the global insurance market is cyclical and alternates between periods known as soft and hard markets.