The November 19, 2024 page is not a 2026 bill
On November 19, 2024, the National Association of Insurance Commissioners said premiums for home and auto insurance are increasing. The page explains why insurers charge what they charge and what a policyholder can do. Read on November 6, 2026, that text is still a consumer guide. It is not a premium index, a state filing, or a household renewal. It prints no average premium and no percentage change through 2025 or 2026. Calling the increase a new late-2026 fact would misread the date.
A premium is the money paid for coverage. Insurers set it from the expected cost of future claims. The price also depends on risk where the person lives, and the determining factors may differ under state law. State law, the page says, requires that rates not be excessive, inadequate, or unfairly discriminatory. It does not freeze a renewal, and this page reports no state’s latest ruling.
Expected claims, then the household’s own record
The rule is forward-looking. The premium is not described as a charge only for a loss already filed. Personal risk is considered along with place.
Auto factors on the page are the driving record, including tickets and crashes; claims history; where the car is garaged; age or years of experience, gender, and marital status; the vehicle and the cost to fix or replace it; limits and deductibles; annual mileage; and an insurance score. The score rates how likely a claim is and includes some credit-based factors. Telematics can record speeding, hard braking, acceleration, and turning corners too quickly.
Home factors are location, claims history, replacement cost of the home and contents, the insurance score, the deductible, the home’s age, the age and maintenance of materials and the roof, and fire protection. Replacement cost is not market value. Newer homes may get discounts. Older homes may miss preferred programs, and insurers may require updated heating, plumbing, wiring, and roofing. Fire class depends on hydrant distance and the local department. The page ranks none of these items. A quiet claims history does not, by itself, lock the premium if another listed factor raises expected cost.
Shared costs: weather, repairs, litigation, reinsurance
Some drivers of expected claims sit outside one file. Extreme weather and major catastrophes can damage more homes and cars and produce more claims. Repair costs, including labor and materials, tend to be higher in more populated U.S. areas and when supply is limited. Inflation and interest rates are named because they influence real estate values and goods prices. The page also cites an increasing cost of litigation.
Reinsurance is the insurer’s own insurance. The NAIC says those costs have risen significantly and are shaped by the factors above. That statement belongs to the November 19, 2024 article. It gives no percentage and no slice of a household premium. A costlier backstop for large losses is one input into the price offered to the policyholder.
Higher expected repairs can make the same coverage more expensive to provide. Higher litigation costs can make disputed claims more expensive to close. Those are possible effects, not measurements on this page. The page does not say every household’s premium rose by the same amount, and state law can change which factors count.
Levers that change the price, and sometimes the protection
Shopping is the first step the NAIC names: get quotes from several companies and compare like coverages. Then ask two contract questions. Is the homeowners deductible a fixed dollar amount or a percentage of insured value? Is the claim paid at actual cash value or replacement cost? Replacement-cost coverage protects more than actual cash value, but the premium will likely be higher. A lower quote can buy a smaller repair check.
The deductible difference can be shown without pretending it is a quote. Assume the home is insured for $300,000 and the deductible is 2 percent. Two percent of $300,000 is $6,000, so the household pays the first $6,000 of an assumed covered loss. A fixed $1,000 deductible would leave $1,000 on that same assumed loss. Those amounts are arithmetic on stated assumptions, not savings or offers. The page does say that a higher deductible reduces the homeowners premium, if the household can pay it after a claim.
Other steps trade coverage or depend on a discount the company must confirm. If an older car has little value, consider dropping comprehensive or collision, which pay for damage to that car. Bundling auto coverage with a homeowners or renters policy is another listed option. Ask about a defensive-driving course, a claims-free record, safety features, or an affiliated credit-union account. For the home, ask about smoke detectors, alarms, monitored security, deadbolts, and sprinklers. Ask whether telematics would lower the auto premium; the page does not promise a discount. Check the state insurance department for a mitigation grant or rebate; this page names no amount and no state.
What to check on the next renewal
A renewal and the declarations page are the next evidence: they show whether the deductible is fixed or a percentage, whether settlement is actual cash value or replacement cost, and which discounts were applied. The state insurance department can describe mitigation programs and rate review under the excessive, inadequate, or unfairly discriminatory standard. None of those case results is in the November 19, 2024 article.
The NAIC says home and auto premiums are increasing and that reinsurance costs have risen significantly. It does not split weather, repairs, litigation, and reinsurance, and it does not extend the statement past the article’s date. Inflation and interest rates are cited as influences on values and goods prices, not as a calculated pass-through into a premium. The premium prices expected future claims. Location, personal risk, catastrophe and repair costs, litigation, and reinsurance can move it. What a household can do is compare like policies, raise a deductible only when the cash is available, and confirm discounts rather than treat every lower quote as the same protection.