The economy is doing well, but if that’s the case, why do day-to-day expenses feel tight for so many people? In this episode of Financial Clarity for Doctors, Corey and Rachelle tackle one expense that has been hit hard by inflation. But why has home and auto insurance become so much more expensive?
In this episode, we tackle:
- The basic structure of home and auto insurance
- A few reasons why these insurance lines have become more expensive, including:
- More expensive/larger homes and cars.
- Increasing costs of supplies and repairs
- A rise in lawsuits
- More weather-related claims
- And what to do to make sure you are not overpaying.
With underlying costs being higher, it makes sense that the insurance costs are also higher. But you can shop around and structure your coverage in more efficient ways to reduce costs as much as possible. Or you can drive a really old car to see if that helps! To hear more, listen to the full episode.
For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.
