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Wednesday, July 3, 2024

Insurance Rate Increases – It’s Nothing Personal


I often hear “Why did my rate increase? I have never filed a claim!”  Insurance rates are determined through a complex process that takes various factors into account. The factors range from personal information such as age, gender, marital status, and occupation; your claims history including frequency and severity.  Any claim, even if withdrawn and $0 paid, will detrimentally impact your premium for 5 years, so BEFORE you file a claim, make sure your damage exceeds your deductible, or you will receive no claim settlement, and your rate will still be impacted.  Once a claim is initiated there is great expense borne by the insurance company for mobilizing adjusters and preparing the extensive documentation required for a settlement, so even if zero if paid there is an extreme cost.


Another variable impacting rates is sufficiency of coverage – if your limits are not correct then your rate for coverage is calculated at a higher factor than if you have adequate coverage, therefore, you may pay a lower premium overall in the short-run, but in the long run you will not have enough protection, and it would only have cost a little more to be insured correctly;  Another major factor is proximity to disaster zones such as weather, crime, or heavy traffic.  Many components are outside of your control but impact your rate such as inflation, global events, regional disasters or legislative changes that do not impact you personally, but will cause your rate to be higher. Factors vary between insurance types and different insurance companies may weigh them differently. It's always a good idea to shop around and compare quotes from multiple insurers to find the best rates for your specific needs.


Reviewing your insurance policy each year is a wise decision. Please be sure you share changes in your life with your insurance agent, such as marriage, divorce, children, a new home, or started a business. Check for new discounts, additional coverage options, or better terms that may be available to you. Another area to confirm is your coverage adequacy: Do you have more valuable assets requiring additional coverage, or have you downsized reducing the need for certain types of coverage? Will your coverage allow you to rebuild your structure and replace your contents?  Might be time for a coverage increase.


Insurance provides peace of mind, knowing that you have financial protection in case of unforeseen circumstances. It's always a good idea to carefully read and understand your insurance policy, so you know what is covered and what steps to take when filing a claim.


Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent.  Reach Angelyn at, (228) 385-1177, or

Your Trusted Choice Insurance Agent, SouthGroup Insurance Gulf Coast wants you to know you can call on us with your questions or concerns seeking more helpful advice or answers to your pressing insurance questions. A full insurance review is always your best bet to make sure you have all of the adequate coverage for your personal insurance needs. Remember, we offer a personalized insurance review to anyone who is interested at no charge – just visit any one of our convenient locations!

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Alex Treutel,  Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Scardino and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email:, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook , or Twitter ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy.  We help you save money on insurance!
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#southgroup   @stateauto  @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel

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