Home Insurance Increase After Buying a New Car
I currently have my cars and home insured through Erie. Recently, I traded in my old vehicle for a new one. When I added the new car to my policy, they re-evaluated my home insurance, resulting in a 37% increase. I’ve never filed any claims on my homeowner’s policy, so I’m puzzled as to why purchasing a new car would impact my home insurance in the first place.
It’s definitely frustrating to see your home insurance premium increase, especially with no claims on your record. Insurance companies often reassess your entire policy when you add a new vehicle, as they might consider factors like the overall risk associated with your newly purchased car. Sometimes, it can also be linked to changes in underwriting guidelines or even market trends.
I would recommend reaching out to your Erie agent to get clarification on why your home insurance increased due to the new car. They should be able to explain the rationale behind the re-rating process. Additionally, it may be worth shopping around and comparing rates with other insurers to see if you can get a better deal. It’s always a good idea to review your coverage and make sure you’re getting the best value for your premiums!