Home insurance rates have increased over 20% since 2023. More claims from natural disasters are being submitted, meaning insurance companies are raising their rates. While the increased rates are being experienced all over the country, there are some ways to possibly lower your premiums.
The United States has seen an increase in natural disasters in the past few years. This includes hurricanes, tornados, wildfires, and floods. These events are becoming more frequent and costly as more claims are being submitted. To cover the cost of weather-related damages, insurance rates are rising all over the country.
Material costs for rebuilding homes in case of a complete loss have also risen. Limited building supplies increase the prices of lumbar and roofing materials. Insurance rates must cover materials and labor if your home needs to be rebuilt or needs repairs.
The construction industry is facing skilled labor shortages. The lack of these specialized workers adds possible wage expenses to claims. If you need a repair or rebuild, the costs may be higher due to the labor shortage.
Bundling your home and auto insurance policies can save you money when you have coverage with the same insurance provider.
Some insurance companies offer discounts for home protection devices, such as fire alarms, water sensors, and smart home alarm systems. Contact your FBC Insurance Services agent to see what your home may qualify for.
Raising your deductible on your home insurance to an amount you are comfortable paying will lower the amount your insurance company must pay in the event of a claim.
FBC Insurance Services agents are dedicated to finding you the best rates for your home insurance. Call or email us to get a quote from any of our A-rated 35+ carriers on home and supplemental insurance.
Our experienced team is here to help you every step of the way.
Connect with one of our insurance specialists today.
At FBC Insurance Services, we are committed to providing our clients with outstanding customer service. We have access to many different A-rated insurance carriers that are able to provide coverage across the country. This means we will shop them all and find the best insurance offer whether it’s for your home, flood, auto, motorcycle, boat, recreational vehicle, or personal policy. We also offer bundling of policies to provide you further discounts and savings.
All information presented is for educational purposes only and not intended as financial advice.
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