What’s Going on with My Home Insurance?

Patrick McBride | Agency Owner
The McBride Agency



My name is Patrick McBride, I’m the Founder and Agency Owner at The McBride Agency, where we provide a Modern Insurance Experience without compromising on personal connection. And we’ve quickly become one of the fastest-growing and highest-rated agencies in Northern Illinois.

We talk to hundreds of people each month, and the most common question we hear is, “What’s going on with my home insurance?”

Insurance is in a “hard market” right now and sometimes, it’s easy to get insurance (soft market), and other times it’s a bit more tricky (hard market).

In a hard market, things can get a bit more challenging and result in Insurance costing more, AND coverage might not be as comprehensive as it once was.

But why?

When there are significant problems like frequent storms, inflations, and increased material costs, insurance carriers have to make adjustments.

There’s also a thing called “reinsurance.” Reinsurance is like insurance for insurance companies. When insurance companies have a lot of claims to pay, they can file a claim to help cover those costs, it ends up affecting people like you and me.

So, here’s what happens: clients (you and I) file more claims than the carriers expected, carriers pay those claims then file their own reinsurance claim. And just like when we files claims, carriers rates go up too. Which trickles down to us.

So what do they do? Well, they may increase premiums or begin to limit coverages, or even adjust their appetite for new clients. It’s like a puzzle.

But don’t worry! Here are a few simple things you can do to help:

  • Find an independent insurance agency that you trust and ask them to check different companies to find the best price.
  • Think about increasing your deductibles to take on more of the risk yourself.
  • Explore home security options to make your home safer (and potential discounts)
  • Bundle coverages for savings.


Remember, even though the insurance sea is stormy right now, there are ways to steer your ship and stay safe.

You and your home matter, and The McBride Agency is here to help. Stay smart and safe!

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