Hometown Insurance Agency of Utah Blog

All You Ever Wanted to Know About Insurance

Why do insurance rates increase? Is there a way to lower my rate?

Why do insurance rates increase? Is there a way to lower my rate?

Like with most products/services insurance rates tend to fluctuate. This can happen for various reasons such as:

Some key auto insurance factors are:

  • More distracted drivers due texting, phone calls, etc.
  • The cost to repair damaged vehicles due to the increase in technology
  • More cars on the roads
  • More injuries and fatalities, increased cost of medical and lawsuits
  • Longer commutes make for increased risk in fatigue

Some key home insurance factors are:

  • More severe weather with higher costs of damage to property
  • Larger and more expensive homes
  • Increased labor and material costs for repair
  • A higher cost of claims
  • Increased cost of liability and lawsuits

BETTER CREDIT?  Credit Scores affect interest rates on loans AND most insurance premiums too! Most consumers don't realize that their credit affects their insurance premiums, the better the credit, the lower the insurance premium! 

Do you need help with your credit? We have just the tool for you! ScoreNavigator® has many useful credit tools and tips to help you better your credit, here is just a few things it offers:

1.     ALL 3 Credit Reports and Scores!

2.    Point Deduction Technology®/Tradeline (it literally tells you if you are losing any points on any of your tradelines, how many points you are losing and how to get those points back)!

3.    Target Score Simulator® and Manual Score Simulator

4.    Money Simulator

5.    Short & Long Term Recommendations

6.    Credit Education, Advice and Testing and MORE!

Take control of your credit with ScoreNavigator® Other things you can do to help improve your credit are:



1 - Pay your bills on time.

2 - Keep your credit card balances low and pay them in full each month.

3 - If you don't have any credit cards you can apply for up to 2 secured credit cards, per person on our website! These report to each of the 3 bureaus monthly to help you build positive credit and payment history and there is NO minimum credit score required!! Bonus! Just click this link to get started https://apply.firstprogress.com/go/hometownins/select/

4 - Don't consistently have your credit pulled throughout the year, be cautious as inquiries do play a small role in your credit scores.

5 - Try to avoid co-signing on loans, credit cards or other types accounts with others. If the other person makes a late payment or doesn't pay at all it can negatively impact your credit too and you will be just as liable for any money owed as the other person that signed.

Happy Credit + Good Insurance = Happy You!

If you have questions, need an insurance review or would like a free quote on your insurance please call us at 435-754-7701.

We are your hometown raised, hometown trusted, hometown quality insurance agency!

180 North Main Ste C

Logan, UT 84321

435-754-7701

Email: jill [at] hometowninsr [dot] com

Website: www.hometowninsr.com