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Why Are Insurance Costs Going Up?

Many clients are wondering why their insurance premiums are rising. Several key factors are contributing to this increase:

Inflation: Just like many other costs, the price to repair vehicles and homes has risen sharply. This means higher claim payouts, which often translates into higher premiums for policyholders.
Severe Weather: Increased frequency of storms, floods, and wildfires has led to more claims and higher risks for insurers.
Material and Labor Shortages: It’s harder and more expensive to repair and replace homes and cars, which also affects premium pricing.
Reinsurance Costs: Insurance companies purchase reinsurance to help them manage risk. As the cost of reinsurance increases, it directly impacts the premiums they charge.

At Lacher, we understand the frustration this can cause, and we’re here to help you navigate these changes, offering strategies to keep your premiums as low as possible.

Auto Insurance Savings: How to Lower Your Premium

Auto insurance can be expensive, but there are several ways you can reduce your costs while still maintaining the coverage you need.

Erie Rate Lock Program: Lock in Your Rate for Life

One of the most effective ways to avoid rate increases is the Erie Rate Lock. With this program, your auto insurance rate is locked in and will not increase as long as you don’t make changes to your policy. This means no unexpected hikes, even if you have an accident or file a claim.

We’ve created 4 helpful videos explaining how Erie Rate Lock works and how it can save you money.

Erie Rate Lock

4 Videos

What is Erie Rate Lock?

1:10

Why Choose Erie Rate Lock?

1:44

When Does Erie Rate Lock Apply?

1:35

Erie Rate Lock Savings

1:28

Other Ways to Save on Auto Insurance

Increase Your Deductible: A higher deductible means a lower premium. If you can afford to pay a bit more out of pocket in the event of a claim, this is an easy way to save.
Bundle Your Policies: Combining your home and auto insurance policies can often result in a significant discount. It’s a simple way to simplify your coverage and reduce your costs. Click here to learn more about bundling.
Maintain a Clean Driving Record: Keeping a clean driving history will help you qualify for lower rates, as insurers reward safe drivers.

Home Insurance Savings: Protect Your Home at a Lower Cost

Homeowners are facing rising insurance premiums, but there are still ways to protect your home at a lower cost. Here’s how:

Review Your Coverage Regularly

Your home insurance policy should reflect your current living situation. Have you made any home improvements, like adding a security system or upgrading your roof? These changes could lower your premiums.

Increase Your Deductible

Much like with auto insurance, increasing your deductible can lead to savings on your premium. If you have a solid emergency fund in place, this could be a great option to lower costs.

Bundle Policies for Savings

Bundling your home insurance with your auto or other policies can result in discounts. We can help you find the right combination to save while ensuring you’re fully covered.

Disaster Preparedness

In areas prone to specific natural disasters (like floods or wildfires), insurers often offer discounts to policyholders who take proactive steps to prepare their homes. This can include installing sump pumps, securing your home against storms, or retrofitting your home to meet local building codes.

Home Security and Safety Features

Your home may be eligible for discounts if it’s equipped with security features like alarm systems, smart home devices, or updated plumbing and electrical systems. These upgrades not only improve safety—they also can save you money.

Want to Save on Your Insurance? Let’s Review Your Coverage Together

At Lacher, we’re committed to making sure you’re not overpaying for your insurance. We’ll take the time to review your current policies, identify areas for savings, and explore the best options for you.

Let’s chat!

Reach out to us today to schedule a personalized insurance review. Our team is here to ensure you get the most value out of your coverage, without sacrificing protection.

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A flood insurance policy is affordable and offers invaluable peace of mind.

But it’s important not to wait until right before a heavy rainstorm to purchase flood insurance.

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There’s a sense of deep pride that comes with being a homeowner. But with that satisfaction comes its share of weekend home improvement projects and upkeep, too.

Winter is usually rough on your home. Once snow, ice, wind and freezing temperatures calm down, spring is a good time to check how your home withstood the season. When spring arrives, here’s a list of projects to help your home recover from winter.

Spring Home Maintenance Checklist

Have your roof inspected. This is especially important if you notice any leaks or loose shingles or metal. The freezing and thawing that was so common this past winter can create big splits out of small cracks.
Fix any ceiling stains. Your ceiling may have a yellow or brown stain if your roof has a leak. If so, first fix the leak before sealing the stain with a sealer/primer then apply a coat or two of paint. Moisture problems can lead to mold or mildew build-up, so fix them quickly before you have a bigger problem on your hands.
Inspect windows and doors. Things to look for on doors include bent or broken hinges, frames or edges. Depending on the extent of the damage, you can either repair or replace the door. Also, check screens for holes before you swap out your storm panels.
Consider resealing your driveway. A lot of water seeps into driveways during the winter, which can create cracks when it freezes then thaws. If you notice a lot of cracks, consider having it resealed to prevent further cracking.
Check your fence(s). Repair or replace any loose slats or rot on your fences. Use epoxy to patch up any worn wood. Use these tips for larger fence renovations.
Clean gutters and downspouts. Leaves can weigh things down while ice dams can bend and break gutters. Grab a pair of gloves, a sturdy ladder and a trowel to clear any leaves and debris out. Call a professional if you’re not comfortable doing this on your own.

Spring Yard Maintenance Checklist

Your yard goes dormant throughout the winter, and the cold temperatures can seriously wear it down. Help your yard recover from winter with these tips.

Check for damaged patches of lawn. Salt, plows and disease can do a number on your grass, so use a metal rake to remove any dead or damaged patches.
Don’t mow too early. Grass needs a chance to reestablish itself, so let it grow reasonably tall before mowing. For the first mow, use the high setting to keep the grass strong. Be sure to take a walk through your lawn beforehand as well, and clean up any branches or debris that blew into your yard during the winter storms.
Overseed your lawn. Overseeding is the process of planting grass seeds directly into the existing turf. This leads to denser grass with more color variation. Though best done in the fall, you can still get great results by overseeding in the spring. Slit-seeder machines can do the work for you; ask a home supply store specialist for help choosing one.
Clean up the area around plants. Rake up any leaves, uproot any dead annuals and remove existing mulch a little at a time as the temperatures warm. (Wait until the soil warms up in mid- to late-spring before applying a new layer of mulch. If you put it down too early, it will slow the warming process.) While in your garden, cut back flowering perennials to a height of four or five inches to allow space for new growth.
Restore your walkway. Rake any errant gravel back into place. If you have flagstones, fill new sand or stone dust into the cracks.

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Homeowners Insurance Policy Questions & Answers

The best time to learn about what’s included in a basic homeowners insurance policy is before you have a claim. We’ve gathered the answers to the most common “Am I covered if…” questions about your homeowners insurance policy to help you to minimize any coverage surprises.

What property and perils are excluded from my policy? Typically, coverage does not apply to damage caused by flood, surface water, water that backs up through sewers or drains, earth movement, nuclear damage, war, etc. Personal liability and medical payments do not apply to the operation, ownership, use, etc., of any aircraft, automobile, RV, water craft powered by more than 50 horsepower motor; bodily injury or physical damage caused by an intentional act of the insured.

What happens if I have a fire? How do I collect for my personal property? Whether your policy pays for the replacement or just the actual cash value of your possessions, you will be paid for personal property that you can show you owned at the time of loss. It is a very good idea to keep an up to date inventory in a secure place. Also, to help you remember what you had, it is helpful to take pictures or video of each room.

If my sump pump fails due to water backing up through the sewers, am I covered? No, but you can easily add a sewer and backup endorsement to your homeowners policy to cover the loss.

Is my boat covered? Theft to watercraft, including furnishings, equipment and outboard motors, is typically excluded if the theft occurs outside your residential premises. To cover your boat and its accessories, you need a separate boatowners insurance policy.

I have insured antique items listed on my policy. If I have a total loss, do I receive payment for the full insured value? We will first confirm the value of the items with one or more independent antique dealers. You should then be paid a dollar value based on the dealer(s) estimate of the worth of the antique items. The best way to insure your antiques? Get appraisals and establish the stated values in the policy.

During a storm, a tree from my neighbor’s yard fell and destroyed my fence. Who pays for the loss? Generally, your own policy should cover the loss. Our agency may be able to recover the amount paid for the loss from the neighbor’s homeowners insurance if the loss occurred as a result of your neighbor’s negligence.

Get in touch with us!

If I have water damage from a rainstorm, am I covered? No, a separate flood policy is needed to covers losses to your property caused by flooding. As long as your community participates in the National Flood Insurance Program (NFIP), you’re eligible to purchase flood insurance. We can assist you in determining if your community participates in the NFIP.

What if I lose power and the food in my freezer spoils? A basic policy typically does not cover this loss; however, coverage for electrical outages is available for a nominal additional premium.

If my iPod is stolen from my vehicle, is it covered under my auto insurance or my homeowners insurance policy? Almost all auto and homeowners policies exclude coverage for any losses of iPods and other sound transmitting or receiving equipment used in an automobile. For added protection, check with us to determine if coverage can be purchased for the stereo and media players used in your auto.

How can I be sure I have the right coverage? A complete review of your policy is the only way to determine what property is covered and what perils are insured against. We can help you identify your risks and explain what’s included in a homeowners insurance policy, including the standard limits of coverage on property insured such as money, watercraft, theft of jewelry, silverware and guns. Contact us today to learn how we can help you insure your home, auto and life.

Contact your Lacher team to learn more.

Hurricane Ida is expected to go down as one of the costliest storms in U.S. history, with total property and economic losses approaching $100 billion . And for many homeowners who faced historic flooding , the toll will also be financial. Well under 20% of U.S. homeowners have flood […]

Click here to view original web page at www.cbsnews.com

“I noticed that our mortgage had gone up $100 on a $1,250 mortgage,” he said. “So, I looked into it. First, I called the mortgage company and they said, ‘It’s costing a lot more to insure your house. Talk to [the insurance company].’ So then I called USAA and said, ‘What’s going on?’”

Across the country, homeowners renewing their policies are discovering that rising material costs, supply chain disruptions and climate change are combining to drive premiums up by an average 4 percent to an average annual premium of $1,398, according to the Insurance Information Institute, a nonprofit organization known as Triple-I that provides information on the insurance industry. Triple-I uses data from Standard & Poor’s Global Market Intelligence for its analysis[…]

Click here to view original web page at www.washingtonpost.com

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Keep Your Pipes From Freezing

Generally, pipes that are exposed to frigid outdoor temperatures freeze more readily—such as hose bibs, swimming pool lines and water sprinkler lines. Pipes that run along exterior walls in your home with minimal insulation also tend to freeze more easily.

Regardless of where they are located, frozen pipes can carry significant consequences—including property damage from your pipes bursting, flooding and the potential for a disruption in water supply. With this in mind, here’s what you can do keep your pipes from freezing when temperatures drop.

Insulate pipes in unheated interior areas, such as crawl spaces and attics.
Wrap pipes in heat tape or thermostatically controlled heat cables.
Open cabinet doors to expose pipes to warm air.
Seal any leaks with caulk or insulation.
Disconnect outdoor items such as hoses and faucets. Shut off these items completely using an indoor valve and allow the excess water to drain out.
Trickle a little water out of your faucets periodically to keep water moving within the pipes.
Keep your garage door closed if there is a water supply in there.
Keep your thermostat set at the same temperature during the day and night.
Do not set your thermostat lower than 55 degrees Fahrenheit when going on vacation. Ask someone to periodically check the temperature in your home while you are away.

How to Respond to Frozen Pipes

If you turn on a faucet and no water or only a trickle comes out, your pipes may be frozen. Turn off the main water valve and keep the faucet on. Apply heat to the pipe by using an electric heating pad, hair dryer or portable space heater, or by wrapping the pipe in towels soaked in hot water. You should apply heat until you regain water pressure. If this does not solve the problem, contact a licensed plumber to inspect your pipes.

10 Winter Home Maintenance Tips

In addition to frozen pipes, there are a number of other tips you should consider to keep your home safe in cold weather.

To make sure you have adequate home insurance coverage, contact us today.

Read over these turkey frying tips

While preparing your Thanksgiving turkey in a turkey fryer can be a timeless tradition, it’s important to keep cooking safety measures in mind to protect yourself, your guests and your home. After all, the U.S. Fire Administration states that Thanksgiving is the peak day for home cooking fires.

Don’t let your next holiday gathering become another statistic. Use this guidance to ensure turkey fryer safety and enjoy a stress-free Thanksgiving.

As with any cooking tool...

It’s important to take caution when using a turkey fryer, as it can be extremely dangerous. Here are some tips to consider when frying a turkey:

Stay in the area where you are cooking. Leaving the turkey unattended may cause the fryer to overheat, resulting in a fire.
Use your turkey fryer on a level surface. Anything that might cause the fryer to tip over may result in a hot oil spill.
Thaw your turkey before cooking. Water from a still-frozen turkey can cause the oil to bubble or splash over the pot.
Keep small children and animals away from the fryer while it is in use. There is a great risk that a child or pet could run into the fryer, knocking it down and causing serious injury. A safe distance of three to 10 feet away is recommended.
Have safety equipment ready. Use oven mitts, goggles and an apron while cooking. Have a fire extinguisher nearby in case of emergency, and keep flammable items away from the fryer.

Keep it outdoors

For your safety, only use a turkey fryer outside and away from your home. Never use a turkey fryer in a garage or on a porch. Also, be sure to keep some distance between yourself and the fryer as you monitor it—you wouldn’t want to accidentally get splashed with hot oil.

For more home safety guidance and homeowners insurance solutions, contact us today.

How to winterize your home

Before winter approaches, you’ll want to make sure you’ve taken the necessary steps to winterize your home.

What does it mean to winterize your home? This is just a term that means to prepare your home for the colder temperatures.

Preparing your home for the first freeze

Before the season’s first freeze, here are some other home maintenance tips to consider:

Extend your fuel supply by insulating walls and attics, caulking and weather-stripping doors and windows, and installing storm windows or covering windows with plastic.
Maintain heating equipment and chimneys by having them cleaned and inspected every year.
Insulate pipes with insulation or newspapers and plastic and allow faucets to drip a little during cold weather to avoid freezing. Running water, even at a trickle, helps prevent pipes from freezing.
All fuel-burning equipment should be vented to the outside and kept clear.
Keep fire extinguishers on hand, and make sure everyone in your house knows how to use them. House fires pose an additional risk, as more people turn to alternate heating sources without taking the necessary safety precautions.
Learn how to shut off water valves (in case a pipe bursts).
Insulate your home by installing storm windows or covering windows with plastic from the inside to keep cold air out.
Hire a contractor to check the structural ability of the roof to sustain unusually heavy weight from the accumulation of snow or water, if drains on flat roofs do not work.

When snow is in the forecast

Before the season’s first snowfall, you can prepare with these home maintenance tips from our friends at Erie Insurance:

Windows and doors: Prevent chilly drafts (and pricey heating bills) by checking and replacing any worn weather stripping, and caulking any cracks. For loose-fitting doors, slide a draft guard or rolled-up towel underneath to fill the gap. For old or drafty windows, consider peel-and-stick window insulation film – it might not be the most elegant look, but it can keep up to 70% of heat from escaping.

Thermostat: For every degree lower your home’s temperature is during the winter, you can save as much as 1 percent on your energy bill (according to the U.S. Department of Energy). If you have an older thermostat, consider replacing it with a smart model to save on heating costs. Many new thermostats have algorithms to learn your comings and goings so you’re not paying to keep your home toasty warm when you’re not around.

Snow removal supplies: Before the first snow, you’ll be glad you thought ahead and bought supplies early. Inspect the bolts, belts and parts on your snow blower; make sure your snow shovel is in good shape; stock up on ice melt or sand; and invest in a snow rake to help clear your roof. Snow accumulation on your roof that exceeds 20 to 25 pounds per square foot can be dangerous.

Drafts and cracks: Cold air will take advantage of any opportunity to sneak into your home. Here’s a list of quick fixes for drafty places:

Outlets and switch plates: Use foam-insulating sheets to block cold air coming in from exterior walls.
Exposed ducts: Check your attic, basement, and crawl spaces and use sealant to plug up any leaks or cracks on exposed ducts.
Floors: Don’t underestimate the power of a thick, cozy rug. Your floors can account for as much as 10 percent of heat loss in a house.

To make sure you have adequate home insurance coverage, contact us today.

What type of insurance covers water damage?

It can be confusing to understand which types of insurance may cover specific types of water damage to your property. On this page, we will outline the three main types: Homeowners insurance, a Water backup endorsement, and Flood insurance.

Homeowners Insurance – Examples of damage usually covered by Homeowners insurance:

Leaking roof – Unless not well maintained
Burst pipe
Overflowing bathtub

Download an overview.

Water Backup Endorsement

Water that rises up from backed-up sewer
Water that rises up from backed-up toilet and bath
Water that rises up from backed-up sinks and sump pump

Click here to learn if a Water Backup Endorsement is right for you.

Flood Insurance

Water that moves over the ground
Water that causes structural damage
Mudslide damage carried in by stream or river

Click here to learn if Flood Insurance is right for you.

Contact us if you have the right coverage for your needs.

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Home

Why Are Insurance Costs Going Up?

Auto Insurance Savings: How to Lower Your Premium

Erie Rate Lock Program: Lock in Your Rate for Life

Erie Rate Lock

Other Ways to Save on Auto Insurance

Home Insurance Savings: Protect Your Home at a Lower Cost

Review Your Coverage Regularly

Increase Your Deductible

Bundle Policies for Savings

Disaster Preparedness

Home Security and Safety Features

Want to Save on Your Insurance? Let’s Review Your Coverage Together

Let’s chat!

Spring Home Maintenance Checklist

Spring Yard Maintenance Checklist

Homeowners Insurance Policy Questions & Answers

Get in touch with us!

Contact your Lacher team to learn more.

Keep Your Pipes From Freezing

How to Respond to Frozen Pipes

10 Winter Home Maintenance Tips

To make sure you have adequate home insurance coverage, contact us today.

Read over these turkey frying tips

As with any cooking tool...

Keep it outdoors

How to winterize your home

Preparing your home for the first freeze

When snow is in the forecast

To make sure you have adequate home insurance coverage, contact us today.

What type of insurance covers water damage?

Homeowners Insurance – Examples of damage usually covered by Homeowners insurance:

Water Backup Endorsement

Flood Insurance

Contact us if you have the right coverage for your needs.

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