Buffalo, N.Y. (WBEN) - No matter if it's life, home, auto or health, insurance premiums are on the rise. Insurance agents say there are some things you can try to do to contain how much you pay.
Ray Caputo of the Wolf Agency says there's no one reason why premiums are going up.
"When one [company] does it, another one follows another one follows," said Caputo in an interview with WBEN.
He cites one example in Florida, where companies have refused to write homeowner insurance unless you're already a customer. He adds companies are tightening claim entries, even when you pay your premium on time.
"They want people to pay on time and so forth. Some companies are more understanding than others, but there is a big move forward to raise insurance premiums and tighten the underwriting requirements," Caputo explained.
So, what can you do? Caputo says go to an agency you can trust.
"There are a lot agencies in New York that you could go with, and they would give you the best deal that they come up with. That's because the insurance agents have lived on commission, so they do what they can to get you written in a policy that you need," Caputo added.
Alan Justin of Hartloff Benefits specializes in health insurance, where premiums are also going up.
"The biggest cost drivers in health insurance are prescription drugs, and hospital costs. Hospital costs are going up on average this year 8%, which is double what it's been in the past. Prescription drugs is just a whole another animal," said Justin with WBEN.
Justin says it's important to be your own advocate when it comes to health insurance.
"We've got to get involved in the process. We've got to ask questions. If your doctor prescribes a drug for you ask if there's generic alternatives," Justin recommends.
He also suggests contacting elected leaders for help.