How medical expenses affect insurance premiums

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Life-saving technology can also add to medical costs.

Consumers often wonder what factors affect insurance premiums. One big factor is the rising cost of medical treatment.

General liability, homeowner, workers’ compensation and auto insurance claims all are affected by post-accident medical expenses. From initial emergency response and trauma care to surgery, physical therapy and beyond, medical services are essential to helping people recover from an accident. But these life-saving measures are also major expenditures that impact insurance rates. Read More

Four tips to control insurance costs

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You can take steps to control insurance costs.

Whether you’re a business owner or an individual, you’re probably interested in controlling your expenses, and insurance costs are no exception. You may ask yourself why your policy’s cost increased.

Remember that insurance premiums are tied closely to costs for labor, materials and medical care. As these prices go up, it takes more insurance dollars to pay claims.
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