Home Insurance Increased Following Car Purchase
I have my cars and home insured through Erie. Recently, I traded in my old car for a new one, and when I added the new vehicle to my policy, they re-assessed my homeowner’s coverage. To my surprise, my homeowner policy increased by 37%, despite never having filed any claims. I’m puzzled as to how buying a new car could lead to such a significant change in my home insurance.
It’s frustrating to see such a significant increase, especially when you’ve had no claims on your homeowner policy. Insurance companies can sometimes reassess the entire policy when there’s a change in auto coverage, as they look at the overall risk profile. It might be worth reaching out to your agent to get a clearer explanation on why the change occurred and to discuss any options to lower the premium. Additionally, shopping around with other providers may help you find a better rate and ensure you’re getting the best coverage for your needs. Have you considered checking with other insurers or asking Erie about any potential discounts you may qualify for?