Hello  {first_name},

I want to acknowledge - up front- that there is a rate increase to your upcoming auto renewal.  We'll get into why this happening in just a minute, but I do want you to know that our agency is doing our best to stay on top of communication, so you aren't blindsided.  We also want you to know that this isn't exclusive to Farmers but industry wide.  I know, that doesn't make the pill easier to swallow.

Now, for the why's:
Insurance is people pooling their money together so that risk is spread out among everyone in the specific risk pool.  That means that while you may not have had a claim or moving violation since your last renewal, if the person driving down the road next to you has had a claim, everyone in the pool feels the impact.  It is the law of large numbers.

Here are a few other things that are impacting rates:
-Supply chain issues causing delays and increase in parts
-Used car prices are up 26.4%
-New car prices are up 9.8%
-Increase in severity of auto accidents (number of fatal accidents are up 18.4%)
-Claims payout amounts are up 20% including just glass claims.
-Labor shortages

You see the impact in the grocery store, gas pump and other goods and services.

What can you do about it:
-Make sure we have updated profile information.  If you have moved, had a change in marital status or any other change - LET US KNOW.
-Confirm that all driver and auto information is correct - especially if we haven't connected for our annual insurance review.
-Schedule an appointment to review your policy.

As always, I'm here to help.
Thank you.

-Andy
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