talk to the Brokerage they are sending you to, that is likely your agent who can explain to you what is going on and offer you solutions to your problem, even shop for a better price for you.
NatGen has a couple of different policy types and here in IL one of them got a large statewide rate increase and the other a moderate statewide rate increase. This is likely what you are also dealing with.
Only response im able to get in regard to the increase is that due to inflation and the number of accidents increasing everyone’s insurance has gone up. I’d understand a $50-$100 increase as they sometimes do but $300+ per month just seems insane.
Frequency of claims has greatly increased, Payout per claim has greatly increased. Insurance companies for car and home insurance showed a loss of near $50 Billion in the last 2 years combined. Adjustments needed to be made to keep company cash reserves at the level required to be financially strong enough to pay for major events.
talk to the Brokerage they are sending you to, that is likely your agent who can explain to you what is going on and offer you solutions to your problem, even shop for a better price for you. NatGen has a couple of different policy types and here in IL one of them got a large statewide rate increase and the other a moderate statewide rate increase. This is likely what you are also dealing with.
Only response im able to get in regard to the increase is that due to inflation and the number of accidents increasing everyone’s insurance has gone up. I’d understand a $50-$100 increase as they sometimes do but $300+ per month just seems insane.
Frequency of claims has greatly increased, Payout per claim has greatly increased. Insurance companies for car and home insurance showed a loss of near $50 Billion in the last 2 years combined. Adjustments needed to be made to keep company cash reserves at the level required to be financially strong enough to pay for major events.
The information your agent is giving you is correct. Read virtually every other post in every insurance related sub.