Why everyone's home and auto insurance costs change

Insurance companies set prices to match the cost of future claims. To do this, insurance companies look at your personal risk factors (the type of car you drive or where you live). But they also look at how much they spend on all claims. https://tdi.texas.gov/consumer/how-are-your-auto-and-homeowners-insurance-costs-calculated.html

But it’s not just you. Insurance companies also consider factors that affect the cost for all claims, which is spread across customers.Other factors that insurance companies look at include:
- Inflation.
- Riskier driving.
- Weather events.
- Reinsurance.

Ask about discounts and shop around.

If your auto or home insurance bill is rising, ask your company to explain the increase and ask if you’re getting all available discounts.

#CarInsurance #HomeInsurance #TexasInsurance

00:00 Why everyone's home and out insurance costs change
00:12 How does inflation affect insurance costs?
00:30 How does risky driving affect insurance costs?
00:43 How does the weather affect insurance costs?
00:56 How does reinsurance affect insurance costs?
01:13 Insurance discounts - shopping for insurance

Видео Why everyone's home and auto insurance costs change канала Texas Department of Insurance (TDI)