Definition: The word "are" in English means to judge, assess or compare. So, if it were compared to another word (like "than") it would be saying that there is an increase in the insurance rate compared to a previous year. So, from this comparison, we can say that insurance rates are going up. The amount of money you will have to pay for your insurance coverage may also rise as well. This means that you need to make sure you understand how much your premiums will increase and what kind of coverage you get if they do go up.