OMAHA, Neb. (WOWT) – It’s costing many people more money to protect two of their most expensive purchases.

Home and auto insurance are on the rise, and there are a number of reasons why people have to pay more to keep their insurance.

Experts tell First Alert 6 that higher labor costs, inflation and more severe weather events are driving up the cost of our insurance premiums.

We have seen many severe weather events across the country. Some of the storms and floods are hundreds of miles away, but they can still affect policyholders in the metro area.

“It could just be because the insurance company’s bottom line is like they’re paying out other places, too. At some point, they’re going to have to deal with all of that,” says insurance agent Kim Riha. “Home insurance has seen more of an impact right now than auto, just because all the claims that have happened in the area and the amount they paid out.”

Riha is with Accredited Insurance Group. The family-owned insurance company has existed since 1984.

“I’m an independent agent, so I have multiple carriers. I can look at most of our carriers, actually all of our carriers are taking rate increases whether it’s car or home,” says Riha. “I’d say it costs them a whole part money to cover all claims. Mine are fine as I have them. I know there are others who struggle a little more depending on which areas.”

The metro area is not immune to extreme weather.

A couple of severe storms have hit the area, and those storms forced residents to repair their homes and replace roofs, and that means insurance companies have to pay out more claims.

“One of my porters had come in and said the average age of the roof used to be close to 15 to 20 years,” Riha said. “Now, if they can even get eight years off a cap with the storms, that’s pretty good.”

Riha said car insurance is also on the rise.

Many vehicles were damaged in the storms, but she tells First Alert 6 that wasn’t the main driver of the auto insurance premium increase.

“The most important thing in car insurance is that you have the claims, but even with these newer cars, and the amount of technology on the cars, the cost of the claim is going to go up if you’re driving a newer car,” Riha said.

Riha said there are a few things people can do to keep insurance rates somewhat affordable.

“If you can increase your deductible, it will help keep the price down.” said Riha. “The longer you stay with a carrier, it’s going to be better for you in the long run, too. Some of mine, if you stay with them for a while, you’re less likely to get canceled.”

Riha knows everyone has a budget, but it’s a good idea to check insurance, especially homeowner’s insurance, to see if there are any features that can be cut to save money.

However, Riha also says that cheaper insurance can mean less coverage.

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