The Upton Agency

Elections have consequences. I think we've learned that the past 3.5 years. Inflation, due to the reckless printing of money, started climbing 2021 and has only slowed slightly. We see it at the restaurant, grocery store and gas pump, but we also see it impact the cost of insurance. Why? Because insurance pays for goods and services, too. However, inflation has another more subtle impact that we can't see every day. It impacts human behavior. Data has shown for decades that when the economy tanks and money is tight, the frequency of insurance claims trends up. Frivolous lawsuits spike. The psychological reasons behind that are many and deep, which is a separate conversation.
In summary, the combination of economic factors and human behavior drives claim frequency and severity, which drives the cost of insurance up for everyone because we all pay for each other's claims/losses.
Let's vote and pray for some relief next year.

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If you are involved in an incident where there's luckily no damage to the vehicle(s), don't call the police, file a claim, or report it to your insurance company. Just go on about your day. Claims go into a loss history database where a car dealer, as well as the general public, can see that info. They'll use that info to depreciate the value of your vehicle. No damage... no injuries... no big deal. Let's do a little something to help keep insurance premiums down!

One of our customers told a "storm chaser" he could check out her roof. She hears a racket on her roof, goes outside, and he's up on the roof with a leaf blower causing "wind damage." She took photos and reported it to the insurance company, so she and the insurance company are going after the storm chaser criminally for vandalism.