Understanding What Is Causing Insurance Costs to Rise

As a customer, you may be wondering why insurance costs are on the rise and options seem limited. From severe weather events to widespread inflation, several factors contribute to the increasing costs of insurance. This comprehensive article will seek to explore some of these forces in detail.

Keynotes

• Historic weather events in 2023 have led to unprecedented damage costs.

• Inflation has significantly increased building and repair costs.

• Labor shortages contribute to higher costs for repairs and maintenance.

• Proactive steps can help mitigate the impact and costs of extreme weather and economic forces.