Call Nichole Meyers and her team at AAA Holland today to assess your current policies!
Facing rising insurance rates? Here’s what you can do:
If you’ve noticed your insurance premiums rising by 25-30%, you’re not alone. Many homeowners and drivers are feeling the impact of one of the most volatile years in the personal insurance market in recent memory. As someone with over 25 years of experience in the industry, I can tell you that these increases, while frustrating, have specific causes, and there are steps you can take to manage them.
Several factors have contributed to the spike in rates: severe weather events such as hurricanes, wildfires, and winter storms, along with rising inflation and supply chain issues. For example, the average price of a new car has jumped from $38,635 in 2020 to $48,978 in 2024. In Bucks County, the average home price has increased by 21% over the same period. Additionally, insurance companies are temporarily tightening their underwriting guidelines as a means of managing risk, making it more difficult to find competitive rates during this time.
So, what can you do? The best approach is to work with a local, experienced insurance agent who has access to multiple carriers. At AAA Holland, the Meyers team can help you navigate these changes by reviewing your coverages, discounts, and deductibles to ensure they still meet your needs. We’ll take the time to understand your unique risks and vulnerabilities, helping you avoid costly gaps in your coverage.
For example, many homeowners don’t realize they need additional coverage for water backups caused by failed sump pumps or backed-up drains. Finding out you’re not covered during a crisis can be costly and stressful.
If you haven’t reviewed your policy recently, now is the time to do so. Don’t go it alone in these uncertain times. Call the Meyers at AAA Holland at 215-485-5491 and let us provide you with peace of mind. We’ll find the right coverage at the right price, and if another agent or carrier is a better fit for you, we’ll refer you accordingly. Reach out today to ensure your coverage is as strong as it needs to be!