HGA Insurance: Why do insurance rates keep rising?
Unfortunately, insurance companies can’t foretell the future. The best they can do is make an educated guess about the size of future claim payouts to determine what they should collect in premiums. These educated guesses can be different for every company, but the main focus is on the trend. More claims = higher rates.
If these companies don’t collect enough premium, eventually they will end up in a position where they cannot afford to pay claims.
We understand that this isn’t welcome news, and we are here to help. If you have concerns about the cost of your insurance, book a review with us. We can sit down and go over all the options.
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