Why your mortgage keeps going up—and how Freshquote can save you thousands
If you’ve noticed your mortgage payment creeping higher every year, you’re not alone. Maybe you’ve scratched your head, wondering, “Why is my mortgage going up?” You might assume it’s interest rates or taxes, but here’s a plot twist: most of the time, it’s your home insurance premiums sneaking up through your escrow account. That’s right—those rising insurance costs could be quietly inflating your monthly bill. The good news? Actively monitoring your home insurance with an independent provider like Freshquote can save you serious cash—think hundreds or even thousands over 5-10 years. Let’s break it down.
The hidden culprit: Insurance premiums and your mortgage
Most homeowners don’t pay their insurance directly—they roll it into their mortgage through an escrow account. Your lender collects a chunk of your payment each month to cover property taxes and insurance, then pays those bills for you. Sounds convenient, right? It is—until your insurance premium goes up. When that happens, your lender adjusts your escrow to cover the difference, and bam, your mortgage payment jumps.
Why do premiums rise? Could be inflation, a claim you filed, or just your insurer deciding your area’s “riskier” now (thanks, weather). Whatever the reason, you’re stuck footing the bill—unless you take control. Over time, those little hikes add up. A $200 annual increase might not sound like much, but over 10 years, that’s $2,000 extra out of your pocket. And if premiums climb faster—say, $500 a year—that’s $5,000 gone. Yikes.
The power of actively monitoring your insurance
Here’s where things get interesting: you don’t have to just sit there and take it. Actively monitoring your home insurance—checking rates, shopping around, and adjusting coverage—can stop those escalations in their tracks. But who has time for that? Comparing quotes, digging through policies, dealing with pushy agents—it’s a hassle most of us dread. That’s why partnering with an independent insurance provider like Freshquote is a game-changer.
Freshquote isn’t tied to one big insurer like Geico or Progressive. They’re free to shop the market, connecting you with brokers who find the best rates from multiple carriers. It’s like having a personal insurance detective who does the legwork for you. By keeping an eye on your policy year after year, Freshquote ensures you’re not overpaying—and that keeps your mortgage in check.
Savings that stack up: A 5-10 year view
Let’s put some numbers to it. Say your home insurance is $1,200 a year, and without monitoring, it creeps up 5% annually (not uncommon). Over 5 years, you’d go from $1,200 to about $1,530—adding $765 to your total costs. Over 10 years, that’s $2,550 extra, all funneled through your mortgage. Now imagine it jumps 10% some years (hello, hurricane season)—you could be looking at $4,000+ in unnecessary expenses.
With Freshquote, you flip the script. They might find you a policy at $1,000 instead of $1,200 right off the bat—saving $200 year one. Then, by actively monitoring and switching when rates spike, they keep your premium steady or even lower it over time. A modest $200 annual saving becomes $1,000 over 5 years, $2,000 over 10. If they snag bigger discounts—say, $400 off yearly—that’s $2,000 to $4,000 back in your pocket. That’s not chump change—that’s a vacation, a kitchen upgrade, or just peace of mind.
Why Freshquote makes it easy
Here’s the kicker: Freshquote does this without you breaking a sweat. No endless phone calls, no sifting through fine print. You give them your details once, and their independent brokers scour the market for deals tailored to your home. They’re not locked into one company’s agenda—they’re on your side. And because they monitor year-round, they catch those premium hikes before they hit your mortgage, giving you options to switch or adjust.
Take control of your mortgage today
Rising insurance premiums don’t have to mean a rising mortgage. By partnering with Freshquote, you’re not just reacting to cost increases—you’re staying ahead of them. Over 5-10 years, those savings stack up, turning a sneaky expense into an opportunity. Ready to stop wondering “why’s my mortgage up” and start saving? Head to Freshquote, get a free quote, and let their brokers do the heavy lifting. Your wallet—and your mortgage—will thank you.