Man looking shocked because his insurance rates went up


Experiencing an increase in your insurance rates can be frustrating and unexpected. Whether it’s for your car, home, or business insurance, understanding why these hikes occur and what steps you can take to manage them is crucial. In this guide, we’ll explore what you can do if your insurance rates go up.

Why do insurance rates increase?

Insurance rates can increase due to various factors. Rising claim costs are affected by increased material prices, labor shortages, and weather disasters. Your auto premium may have been affected by your driving record, new drivers, or higher cost vehicles. For your home and other property insurance rates, your claims history and updates to your home may affect the pricing. While some reasons for rate hikes are beyond your control, there are proactive steps you can take to mitigate the impact.

The importance of working with an independent insurance agency

Partnering with an independent insurance agency offers several advantages, especially when facing rate increases. As an independent agency, F.A. Peabody Insurance works with multiple carriers, giving you access to a broader range of options. We can shop around on your behalf, helping you find the best coverage at the most competitive rates. Additionally, we prioritize customer satisfaction and are committed to finding personalized solutions tailored to your needs.

What to do if you’re currently a customer of F.A. Peabody Insurance

If you’re already a customer of our agency and notice a sudden increase in your insurance rates, don’t panic. Follow these steps to navigate the situation effectively:

  1. Review your policy: Take the time to understand why your rates have increased. Look for any changes in coverage, discounts, or deductible amounts.
  2. Contact your agent: Reach out to your independent insurance agent to discuss the rate increase. They can provide insight into why the change occurred and explore alternative options to lower your premiums.
  3. Explore discounts: Inquire about available discounts or bundling options that could help offset the rate increase. Your agent can advise you on potential savings opportunities.
  4. Consider policy adjustments: Assess whether adjusting your coverage limits or deductible amounts could help reduce your premiums without compromising your protection.
  5. Shop around with us: While loyalty is valuable, it’s essential to explore other insurance carriers to compare rates and coverage options. Your independent agent can assist you in this process.

What to do if you’re not yet a customer of F.A. Peabody Insurance

If you’re not currently a customer of our agency but are experiencing insurance rate increases elsewhere, consider these steps:

  1. Research independent agencies: Look for reputable independent insurance agencies in your area with a track record of providing excellent service and competitive rates. Consider factors such as customer reviews, responsiveness, and overall satisfaction when choosing an insurance agency. We think you’ll find us at the top of the list!
  2. Schedule a consultation: Reach out to us to schedule a consultation. During the meeting, we will discuss your insurance needs and any concerns regarding rate increases.
  3. Obtain quotes: Allow us to gather quotes from multiple carriers based on your requirements. We’ll compare these quotes to determine the best option for your budget and coverage needs.
  4. Establish a relationship: Once you’ve become our customer, we strive to establish a relationship with you. Regular communication will help ensure that your coverage remains aligned with your evolving needs.


Experiencing an increase in insurance rates can be daunting, but it’s essential to approach the situation proactively. By working with an independent insurance agency, you gain access to personalized guidance and a wide selection of coverage options. Whether you’re a current customer or seeking new coverage, taking proactive steps can help mitigate the impact of rate increases and ensure that you have the protection you need at a price you can afford.