Insurance Trends for 2020 – Will My Price Increase?
Insurance companies continue to pay out higher and higher amounts on insurance claims. Due to their increased costs, they will increase premiums as a whole to off-set the trends on their losses.
Based on predictions of increased costs and claims, Willis Towers Watson is suggesting a significant rise in insurance premiums. General Liability could see increases up to 7.5%, Auto up to 12% and Umbrella up to 20%.
For a full breakdown for all lines of insurance, click here.