What’s Happening
Home insurance rates are likely to increase. Insurers face higher replacement costs as building materials (steel, copper, aluminum, lumber) surge in price. War risk reinsurance costs have spiked, which trickles down to consumer premiums. Some insurers are already filing for rate increases citing material cost inflation. Cyber insurance may also become more expensive as Iran-linked cyberattacks increase risk. Tips: shop around for quotes, increase your deductible to lower premiums, bundle home and auto policies, and ask about loyalty discounts.
What You Can Do
Check our complete money-saving guide for detailed tips on reducing costs across all categories.