What Does It Mean If Your Insurance Premium Increased? 

If your home or auto insurance premium went up recently, you’re probably wondering why and what you can do about it. Premium increases are happening across Arkansas, and while it’s frustrating, there are usually clear reasons behind it.

Common Reasons for Premium Increases

Here are a few factors that can cause your personal insurance rates to rise:

• Inflation: Repair costs, labor and materials are more expensive than a year ago.
• Weather-related claims: Arkansas has experienced severe storms, hail and tornadoes. When claims happen in your area, premium increases often follow.
• Changes to your policy: Adding coverage or lowering your deductible can trigger a rate increase.
• Claims history: Your rates may increase if you’ve recently filed a claim.
• Insurance company adjustments: Carriers regularly review risk data and may adjust rates based on trends in your ZIP code or region.
• Credit score changes: In Arkansas, insurers may use credit-based insurance scores to help set premiums.

What You Can Do

If your premium increased, here are a few steps to take:

• Review your coverage: Make sure your policy still fits your needs. You might be able to adjust limits or deductibles.
• Ask about discounts: Bundling home and auto, installing safety features or maintaining a clean driving record can help.
• Shop around: Rates vary between carriers. An independent agent can help you compare options.
• Talk to your agent: Sometimes a quick conversation can uncover savings or better coverage options.

Want Help Managing Rising Insurance Costs?

If your premium went up and you’re not sure what to do next, reach out today. The Sunstar Insurance of Arkansas team can walk you through your options, explain what’s driving the increase and help you find ways to save without compromising coverage.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.