The reality is that insurance prices are rising nationwide, and several key factors are contributing to the spike. Understanding what’s behind these changes—and what you can do to manage them—can help you stay in control of your costs.
What’s Driving Insurance Rate Increases?
Several industry-wide challenges are putting pressure on insurance pricing:
- Inflation: Rising costs for materials and labor have made home and vehicle repairs significantly more expensive
- Natural Disasters: More frequent and severe storms, floods, wildfires, and hurricanes have driven up the number and size of claims
- Supply Chain Disruptions: Delays and shortages in building materials, car parts, and skilled labor continue to raise replacement costs
- Reinsurance Costs: Insurers also pay for insurance, and those costs have increased as global risk rises
- Litigation Trends: In North Carolina and other states, increased legal activity and claims severity are influencing premiums
These issues affect all insurance carriers, and unfortunately, some of the added cost is passed along to policyholders.
How This Impacts NC Policyholders
Homeowners in North Carolina are feeling the pinch across multiple types of insurance:
- Home Insurance: Premiums are increasing due to higher rebuild costs and climate risk exposure
- Auto Insurance: Even drivers with clean records are seeing double-digit hikes
- Business Insurance: Property and liability coverage costs are rising, especially for small businesses
Can You Avoid a Rate Hike?
You may not be able to avoid every increase, but you can take steps to reduce the impact:
- Raise your deductible (if financially feasible) to lower your monthly premium
- Bundle your home and auto policies for multi-line discounts
- Review your coverage to eliminate unnecessary or outdated protection
- Explore discounts for security systems, newer roofs, or safe driving
- Shop across insurance companies, especially with an independent agency like Leavitt Piedmont
Even small adjustments can make a meaningful difference over time.
How Leavitt Piedmont Helps You Stay Ahead
Working with an independent agency gives you access to multiple insurance companies and personalized service. At Leavitt Piedmont, we:
- Proactively review your renewals
- Compare options to find competitive rates
- Offer advice on managing risk and reducing exposure
- Help you make changes without compromising your protection
- Assist with claims and coverage questions year-round
Let’s Keep Your Costs in Check
Although insurance rates are increasing, you don’t have to face the challenges of finding the right coverage by yourself. There are ways to get help—like working with an insurance advisor—so you can be confident you're getting the best value without sacrificing the protection you need.
Contact us today to schedule a free policy review.
