Q: No matter how much I lower coverage we don’t need and they wouldn’t pay anyway I find every 6 months car and home insurance increases.
A: Understandably, people get upset when their car insurance rates and homeowners rates increase at their renewal. Insurance is a hard commodity to understand because you can’t touch or see it, but it is no different than anything else you purchase. Just like when your gallon of milk increases in price to make up for the increased price of gas to deliver it or because there is a drought and they have to pay to bring in extra feed to replace the dead grass, so your insurance premium has to increase to make up for the increases in cost for medical treatments, building materials and more technologically advanced vehicles. If they didn’t increase your premium to keep up with the rising costs everywhere else they wouldn’t have enough money to pay out for claims.