- Inflation has boosted the price of everything, including the cost of insurance.
- So the cost of your insurance may have risen, but your coverage hasn’t.
- That means soaring inflation could leave you underinsured. Here’s how to know and what to do.
The probability that you’re paying more for less is clear these days at the grocery store or in a restaurant, but one place it may not be as obvious is in your insurance policies.
On average, homeowners’ premiums are up 12.1% compared to a year ago, according to a Policygenius analysis, released in July, of internal policyholder data.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.