The cost of insuring homes and vehicles is increasing rapidly, with homeowners seeing a nearly 20% rise in insurance rates since 2021, and more hikes expected.
Factors like soaring repair costs, increased litigation, and extreme weather events are pushing home and auto insurance rates higher, prompting consumers to seek alternative options.
Experts suggest shopping around for insurance rates annually, as approximately 27% of drivers are already switching providers to cope with rising premiums.
While inflation may be slowing down, insurance costs continue to escalate at an alarming rate, significantly affecting household budgets.
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