Insurance spiking at next renewal (never had claims )

[Ron Singh]

Hi all,

Re: insurnace (primary res + rental sfr + Auto)

I noticed this year my insurnace premium is increasing on all primary res + rental sfr + Auto by around 30% (3 yrs with this insurance provider )

I never had any claims on any property or auto, is it inflation ?

I tried to ask my insurnace, but they can't help anything.

is everyone noticing same situation or have any suggestions for better insurance providers for all bundle ?

please suggest

[Greg M.]

Every type of insurance is going up dramatically. The massive reinsurance carriers got hit really hard with claims thanks to the CA wildfires and Hurricane Ian. Inflation and tight labor markets are driving rebuilding costs way up. Moronic insurance Commissioners and their protect the people attitudes have caused numerous carries to leave many markets. 

We're at least a couple years away from the market stabilizing. Whether is goes back down or stabilizes at the current or higher rates is unknown.