{first_name}, I've got an unfortunate fact to share with you. This is something that is going to affect everyone - but - I'm going to give you some unsolicited advice to help.

Ready for the fact?

Your insurance is probably going up.

Home, auto, whatever. Inflation is taking a toll on every single business and vendor that insurance companies use. Don't believe me?

Tried renting a car lately?

What about getting your vehicle in a body shop?

How about getting a contractor to do work on your house?

The cost of materials has increased greatly.

All these things are examples of things that are going to affect rates.

So - how do you, as a consumer, protect yourself from rate hikes? Here are some tips for you to consider.

1  Increase your deductibles. Look - I get it. You have something happen, you don't want to pay a big deductible. But what people tend to forget is your rates are HIGHER for a lower deductible.

Take $$$ and put it in your savings account, your Roth IRA or under your bed. This is for your deductible if you ever need it.

Then raise your car insurance deductibles and home deductible.

2 Evaluate the coverage on your home insurance. A lot of people, including agents, think they should insure their house for what they paid for it. This is absolutely, 100% incorrect- unless you are a property investor and know the risks. What you pay for your house is the market value. That takes into consideration the house, location, land, and market conditions. Those last 3 are not insurable.

3  Don't cut your coverage! "Only pay for what you need" is the dumbest slogan in the industry right now. Insurance has one job - protect your way of life and return you to the same financial state you were in before the loss. It's tempting to go gut your policy and reduce coverage to save money...

Do not do that. You think insurance is high? Wait 'til you have a loss and don't have the right coverage.

4 You are being tracked everywhere so why not get a discount for it.  Farmers Insurance Group has a signal app that you download and offers discounts on how you drive. It is at least 5% discount.  Have a teen driver, it is a 15% discount.  I know, I know big brother is watching blah blah blah. Here is a fact. If you have a cell phone, you're already being tracked so you might as well get a discount for it.

Thank you
Steven Rhoades Insurance Agency Inc.