If you are currently shopping for insurance, whether it's auto insurance or home insurance, you aren't going crazy. It seems the rates for many insurance coverages have gone sky-high, and for some people, their vehicles might not be insurable if the owners plan to switch anytime soon.

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A friend of mine recently shared a post from Colorado, that an insurance agent posted regarding specific makes of cars and homeowner's insurance. The overall gist of that COlorado post is that costs are going up, and coverages are going down. While this post originated from Colorado, Minnesota is seeing the same type of changes in the insurance game.

The insurance industry is as wild as it has ever been... this is a Colorado agent, but Minnesota is experiencing similar numbers as this is a nationwide trend with all major companies.
It's here, its everywhere, things are getting tight and its important to have someone you trust looking out for your best interest in your corner during these times especially.

The original post from Patrick Murakami in Colorado states:

The picture of Weird Al is just to emphasize how weird the insurance industry is right now.
If you have a Hyundai or Kia that is older than a 2022 model and is currently insured with full coverage, You're going to have to stay put, because most companies are flat out declining these, even with the security upgrade. Even 2022 models are hit and miss.
Home insurance is increasing by an average of 51%
Yes, 51 that's insane!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
What's worse is that it's getting harder to find home insurance in general as more companies are declining more and more.
Give yourself every opportunity, look at bundling, look at using the driving apps, update your insurance person with upgrades or replacement of your water heater, electrical, roofing, plumbing.
Unfortunately, rates are increasing but coverage availability is decreasing.

What's tough to stomach is that it's not only insurance rates that are climbing, it seems everything is now costing more, which is putting a pinch on many Minnesotan's wallets.

If you are curious about making a switch to your insurance, call around and see if it makes sense for you and make sure you CAN get insurance on your vehicle. If not it might be best to stay put and weather the storm, and hopefully we see rates start to drop later this year or in early 2024.

H/T Dan Batcha for letting me share his post!

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