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Home and auto insurance crisis is now happening in the United States. Many people in the United States struggled due to the home and auto insurance crisis.
![Home and auto insurance in the US [Photo: MSB Insurance Agency]](https://omdnewsnew.s3-accelerate.amazonaws.com/2023/10/MSB-Insurance-Agency.jpg)
Home and auto insurance in the US [Photo: MSB Insurance Agency]
Home And Auto Insurance Crisis
According to an article by Ryan and NerdWallet, many people in the United States are now suffering because of the home and auto insurance crisis that is currently happening this year. Many people were shocked about their home and auto insurance. Many people don’t know what to do about this crisis.
Home Insurance– one of the residents in Louisiana, Mars, is now suffering from a home insurance crisis that is happening right now. Mars said that it broke his heart, he planned to leave the town. But, he has a son in high school which is hard for him to leave the town. Mars planned to sell his house but thought that no one wanted to buy a house, when they couldn’t insure it. Mar’s story is becoming common among Americans. According to a survey, 3 in 5 people in the United States with homeowners insurance- say their premium has risen over the past 12 months, and 1 in 10 people are worried that their insurer will stop doing business in their state. According to a 2023 survey from the Insurance Information Institute, 12% of homeowners in the United States don’t have homeowners insurance- with an annual income of less than $40,000.
Auto Insurance– this 2023 most car insurance companies are scrutinizing the cars they insure while increasing the prices they charge; just like Gail Harlan of Florida- because after she signed the papers to lease a 2023 Kia Seltos, she received new policy documents from her insurer that made her shocked. She discovered that she was paying much more for her new policy than she was for her last car. According to a survey, more than 1 in 6 car insurance owners say- their premiums have risen in the past 12 months. According to the latest data from the US Bureau of Labor Statistics, car insurance costs increased by 19% in August compared to last year. Meanwhile, a growing number of people in the United States are simply opting out of car insurance.
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