If You Thought The Worst of Inflation Was Over, Check Out Your Insurance Bill
- Premiums have soared for home and auto insurance policies, as companies pass higher costs on to their customers.
- The rate increases are an echo of last year’s hot inflation, which pushed up prices for homes, cars, and repairs.
- Insurance companies have been slow to raise rates because they typically need approval from state regulators to hike premiums.
- Double-digit increases to car and home insurance can add hundreds to monthly bills.
Call it delayed-reaction inflation.