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Terry Pennington Agency, Inc is committed to education and guidance during
these unprecedented times.
Challenges Affecting Your Insurance Rates
Insurance rates are increasing due to the challenging market conditions and rising costs in various sectors. Groceries, gasoline, and materials have become more expensive, affecting the prices of everything, including insurance.
Rates are determined based on the actual expenses of rebuilding, replacing, or repairing homes and vehicles. As costs continue to rise, it becomes more expensive to fully restore individuals after accidents or claims.
For more detailed information on the factors influencing insurance rates, please refer to the following pages.