Ever wonder why your cost keeps increasing every time your insurance policy renews? Lately, it seems that year after year we are paying more. Why is that? We are currently facing what’s called a “hard market.” This is defined as “the upswing in the insurance market cycle, when premiums increase, coverage terms are restricted, and capacity for most types of insurance decreases.” In other words, insurance companies are becoming pickier as to what kinds of risks they choose to take on. One factor of this hard market is the increased cost of claims. This is due to more catastrophic weather events, large trial payouts, cost of materials, etc. It is important to stay in touch with your insurance agent to see where there is opportunity to save. | 
