Expect higher-than-normal home and auto premium increases in 2022

By: Jeff Encke

Historic inflation and other contributing trends have been driving up costs related to the repair and replacement of homes and vehicles – and these higher costs are forcing carriers to raise home and auto premiums. We want to make sure you understand the factors behind these premium increases so you can explain them to your clients at renewal.

Home-related trends: higher building materials costs and a skilled labor shortage If you’ve shopped at Home Depot or Lowe’s lately,