Insurance Costs Are Rising—Here’s How to Push Back
Insurance Costs Are Rising—Here’s How to Push Back
Have you noticed your car or home insurance premiums creeping up? You’re not alone. Across the country, rising costs and inflation have led to higher insurance rates. While it may feel like there’s nothing you can do, that’s not the case!
I recently faced an $800 increase in my home and auto insurance premium—yes, $800!—but I didn’t just accept it. I took action, and I’ll share exactly what I did to lower my costs. Plus, I’ll walk you through a few strategies that can help you push back against rising insurance rates..
1. Call Your Insurance Company
Before you start shopping around, call your current insurance provider. You might be eligible for discounts you didn’t even know existed. Ask about:
Loyalty discounts – Some companies reward long-term customers.
Bundling discounts – If you have multiple policies (car, home, renters), bundling can save you money.
Low mileage discounts – If you don’t drive much, you could qualify for lower rates.
Good driver discounts – A clean record can lead to savings.
Another way to save? Adjust your coverage. If you drive less or have an older car, full coverage may not be necessary. It’s worth reviewing your policy to ensure you’re not paying for coverage you don’t need.
2. Compare Quotes or Work with an Insurance Broker
If your current provider isn’t giving you the best deal, it’s time to shop around. You have two options:
Do it yourself – Take the time to compare insurance quotes online. No one knows your situation better than you do, so you can tailor your search accordingly.
Work with an insurance broker – Brokers have access to multiple providers and can find the best deal for your needs—without the hassle of researching on your own.
3. Increase Your Deductible
Raising your deductible can lower your monthly premium. But before you go this route, ask yourself:
Can I comfortably afford a higher out-of-pocket expense if I need to file a claim?
Have I made very few or no claims in recent years?
If the answer to both is yes, this could be a smart way to save money in the long run.
4. My Experience with Rising Insurance Costs
This year, I was shocked when my home insurance premium jumped by $800—with no claims or changes to my coverage. When I called my insurance company, they blamed inflation and industry-wide increases.
But instead of accepting it, I took action:
I called my provider to ask about discounts.
I compared quotes from other insurers.
I reviewed my policy to ensure I wasn’t overpaying for unnecessary coverage.
I increased my deductible from $1,000 to $2,500, which lowered my premium by $800 per year!
Since I was financially stable enough to handle a higher deductible if needed, this was a no-brainer.
Final Thoughts
Rising insurance costs may be inevitable, but overpaying isn’t. By calling your insurance provider, comparing quotes, and adjusting your policy, you can take control of your premiums and keep more money in your pocket.
Have you noticed an increase in your insurance rates? What did you do about it? If you found this helpful, share it with someone who might also want to save on their insurance.