With many floods and other disasters that fell upon different parts of Michigan in 2021, comes an adjustment of rates this year in 2022. How exactly does this affect you?
Depending on what city you live in, your situation could be different. Overall, many disasters mean possible higher rates for you. Our owner, Pat Brennen, explains how the cause and effect happens and how Entrust Insurance can help.
How Has 2021 Affected Insurance Rates in 2022? – St Clair Shores, MI
Video Transcription
“Across the board, these insurance companies who insure everybody across the state of Michigan, they’re all incurring very, very heavy and significant losses. And as a result, they have to increase their rates to offset those losses that they’re paying out. So we’re getting to about month six since a lot of that began. And what we’re seeing is that we’re starting to see rates come up a little bit as a byproduct of that. So, you may notice that your current policy your homeowners in particular and in the auto insurance may have increased in costs.”
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