7 Reasons Why Insurance Rates Go Up

MEGAN KOSSOW | February 3, 2020

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Contrary to popular belief your insurance rate isn’t ONLY affected by what YOU do during your last policy term. Insurance carriers may need to make rate changes when you renew. These means they change the rate they are charging everyone in a specific area. Sometimes it’s a small adjustment for inflation, sometimes it’s larger and could be based on multiple factors. The entire auto industry is experiencing high loss trends which means carriers are paying out a lot more claims than they previously have. Due to this fact, the rates of your insurance tend to go up.

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PIB Group

PIB is a growing group of insurance advisory businesses. Launched in 2015, we have grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience across the insurance market.

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Spotlight

PIB Group

PIB is a growing group of insurance advisory businesses. Launched in 2015, we have grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience across the insurance market.

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