Greed, inflation, various damaging weather events over the years, continuing rising costs of auto repair (EVs will make things worse given the rate they are easily totaled), labor costs/shortages, etc. have all played into these insane home and auto insurance rate increases. There's no smoking gun.
In the end, the insurer and the insured will eventually have to come to some sort of equalization, because like many things that have greatly outpaced inflation, this level of increase is simply not sustainable. Too many companies have enjoyed the profitability of COVID and they now expect that level of profitability. A majority of companies are guilty of this. The consumer is also guilty by believing they would have an abundance of income and lived beyond their means. Let's face it, a majority of us live a FAR more fruitful life in terms of the "things" we had growing up. We are just as much to blame.
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They're lying to you.
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