If you’re an American homeowner, you’ve likely felt the sting of rising insurance premiums. Whether or not you’re in a climate-exposed geography, the unpredictability of insurance costs can turn homeownership into a financial pain. At Eventual, we created Premium Lock to bring predictability and peace of mind to this part of your life.
What is Premium Lock?
Premium Lock is designed to work alongside your existing homeowners insurance policy to make your premiums more predictable for the long term. Homeowners have long-term fixed mortgages, shouldn't insurance also be predictable for years?
Here's how it works: if you own your home and have a standard homeowners insurance policy, you’re eligible for Premium Lock. Get a Premium Lock quote by answering a few simple questions about your current homeowners insurance coverage. Eventual predicts how much your insurance is likely to increase over the next 3 years, and guarantees the accuracy of that prediction. If your carrier raises your premiums above Eventual's prediction, Eventual will reimburse you for the difference. Premium Lock works with your existing carrier to make your premiums more predictable for years to come.
What Problem Does Premium Lock Solve?
The insurance industry resets every 12 months, but your commitment to your home lasts much longer. That timing mismatch has become more painful as annual rate hikes have accelerated due to climate risk and construction cost inflation.
In many states, homeowners are seeing double-digit-percent rate increases each year. For families trying to plan ahead, this volatility turns insurance into a budgeting headache. Premium Lock solves that by creating multi-year predictability, helping you avoid financial shocks at renewal.
Who Is the Right Fit for Premium Lock?
Premium Lock is an obvious choice for any homeowner who wants predictability:
- Homeowners in climate-exposed states, like Arizona, California, Colorado, Florida, Iowa, Louisiana and Texas, where insurers have been raising premiums sharply.
- Homeowners in lower-risk states who are still exposed to insurance rate increases as carriers adjust prices nationally to offset major losses in other regions.
- Anyone who values budgeting and financial control for their households.
Premium Lock is compatible with any standard admitted homeowners policy—that means nearly all major insurance carriers and agencies. At this point, Premium Lock is not yet available for state insurers of last resort, or excess and surplus lines policies.
How Do I Get Premium Lock?
While a few insurance companies offer their own internal “rate lock” options, those are limited in scope and tied to a single insurer. Eventual’s Premium Lock is the first and only product that works across all major carriers, in all 50 states, with any admitted lines homeowners insurance policy. You can purchase Premium Lock through your insurance agent or directly from Eventual online by clicking “get a quote.”
Conclusion
Premium Lock helps homeowners take back control in a market that’s become unpredictable and stressful. It’s a simple add-on to your existing policy that can make a big difference in your long-term financial planning.
If you're ready for multi-year predictability, Premium Lock is here to help.