Minnesota Home Insurance Rates Increasing

Why Are My Home Insurance Increasing?

Sorry to be the bearer of bad news. Home insurance policies, much like car insurance policies are increasing in 2022. The simple explanation is that Material and Labor Costs have greatly increased. Builders are even uncertain what the cost of their new construction will be.

Supply chain issues have disrupted most materials from Appliances to Vinyl Siding. Transportation costs have increased which means the cost of goods have increased. Bottom line, the covid pandemic and Inflation affected the insurance industry and the best insurance companies.

How does this relate to your home insurance? The repair and replacement costs of your home are uncertain. Currently, costs to repair or replace your home will be much more expensive than they were pre-pandemic. Because of this, insurance companies have increased coverage on home insurance policies. Combine the increased coverage with a rate increase and you will see an increase in your home insurance price when your home insurance policy renews in 2022.

If you would like to shop your insurance, we would love to offer you a home insurance quote. We offer some of the best insurance rates in the state of Minnesota. To get started on a home insurance quote, call us a 763-767-0522 or fill out the quick contact form listed below this post.

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Are you ready to save time, aggravation, and money? The team at Ameriguard Insurance Agency is here and ready to make the process as painless as possible. We look forward to meeting you!

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