FAIR OR NOTWhy insurance costs so much — and what you can check yourself
Home and commercial building premiums can seem far out of line with the claims you see. Here’s what drives the price, where insurers’ claims and profit numbers are published, how to lower what you pay, and who regulates insurers in your state.
Why Property Insurance Costs So Much
Plain-language look at why home and commercial building insurance can cost a lot, even where claims seem rare, plus practical steps to compare and lower cost.
Read the guide →How to Check Insurer Profits and Rate Filings
Learn where to find insurer financial reports, loss ratios, and state rate filings yourself, what the numbers mean, and how to get help from your state.
Read the guide →Insurance categories
Homeowners insurance
Big deductibles, rising renewals and gaps like flood that many owners miss
Common gaps & what to check →Commercial property insurance
Coinsurance penalties, low limits and exclusions that can shrink a business claim
Common gaps & what to check →Renters insurance
Low-cost coverage your landlord's policy doesn't provide, with limits to check
Common gaps & what to check →Flood insurance
Separate coverage most home and renters policies leave out, with a waiting period
Common gaps & what to check →Auto insurance
Rising renewals, add-ons and claims history that affect what you pay to drive
Common gaps & what to check →State insurance departments
Each state regulates the insurers that sell there. Its insurance department takes complaints for free, and many states let you search the rate filings insurers submit — which include their claims and expense assumptions.
Links go to official government sites (some states use national systems run for regulators). Links change; if one fails, search for your state’s insurance department.
Common questions
Why did my premium go up when I never filed a claim?
Property rates are set for groups of similar buildings in an area, so storms, rebuilding costs and the insurer’s own reinsurance costs can raise everyone’s rate. A claim-free history usually earns a discount but doesn’t set your price alone. Ask your agent which factors changed at renewal.
Where can I see how much insurers pay out in claims?
Insurers file detailed financial statements with state regulators. The NAIC publishes market share and profitability reports by state and type of insurance, and many states let you search rate filings online. Our guide shows how to find and read them.
Who do I complain to about an insurance company?
Your state insurance department. It reviews complaints about claims, cancellations, rates and agents for free. Find yours in the directory on this page.
General information, not insurance, legal or financial advice. Coverage, rates and rules vary by state and policy; ask a licensed agent or your state insurance department about your situation. AblePro is not an insurance agency and does not sell insurance.