This is a question that is asked every day, and the simple answer is no. Insurance carriers use what is called a Loss Ratio (LR) to determine in which direction they are going to move their rates on an annual basis. This LR is determined by the amount of premium they take in versus the amount of claims they pay out during a given year which may be a calendar year or fiscal year and, the rates are based solely on the LR for each state. If the LR stays below 100, then there is a stronger possibility that rates will either stay the same or decrease for the coming year. When the LR is over 100, such as we saw in 2021 after Covid came through and caused the cost of home repairs and auto repairs to skyrocket to the estimated 160 LR, then you see the drastic increases in insurance premiums that everyone saw. You should also know that just like other employers, when the cost of living increases, insurance employees need more money to live on just like any other company. The good news is that those rates are beginning to flatten out and, in some cases, allowing companies to lower their rates. While rates will vary throughout the state, these loss ratios are also based on a given area which, is usually determined by zip codes. As an example, here in Kenosha, we have 5 different zip codes and because of our size, the rates here may be similar, if not identical in every zip code in Kenosha. Now, if you look at Milwaukee, while they also have numerous zip codes, the sheer size of the city is enough to justify many different rates in each zip code area. Lastly, keep this in mind, every time an insurance company changes their rates, they have to notify the commissioner of insurance in each state and tell them what those rates are going to be for new business and renewal business, and usually between new and renewal business, there are two different effective dates.