After my most recent run to the grocery to secure my post-apocalypse rations, I thought many would benefit from my decades-long experience handling winter catastrophes. While insurance is terrific after a loss, prevention allows clients to save on the heartache,…
As insurance companies look to find ways to remain profitable, underwriting guidelines are starting to include claims to the residence from the prior owner. In years past, underwriters would exclude prior claims from the prior owner, as the losses would…
State Farm, one of the largest auto insurance companies, has been grappling with significant underwriting losses. In 2022, they reported a staggering $13 billion underwriting loss, which was the largest in their history. However, the situation worsened in 2023, setting another record: the underwriting loss…
There is without question that Insurance companies use behaviors as indicators for eligibility and premium offering when it comes to insuring a person, and their property. In 2023 insurance companies are cracking down on underwriting rules and increasing premiums for…
Rates are going up, but why? First, know that all insurance rates are carefully monitored by the Department of Insurance (DOI) and all rate adjustments must first pass their review in order to prevent discrimination and undue rate increases. Part…
The most flagrant and over-promised discount in insurance. It happens to every new homeowner. You hear a friendly knock on the door a week after you moved into your new home. Maybe it’s a new neighbor you think. Come to…
Custom insurance policies One of the most recent insurance trends is to provide custom insurance policies. What if I told you insurance companies and agents have been doing this for 40+ years. So what’s the deal? In years past when…
Personal articles floater Personal articles floater or a PAF is an inland marine policy, typically separate from a renters or homeowners policy. It is used to insure specific or scheduled personal property on an ALL-risk basis. Why do I…
Does my insurance cover me in a rental? Sorta. This seems like a simple enough question but the answer can become complex. In signing a rental agreement, the renters agree to be responsible for the liability of the vehicle and…
Does buying a new car increase my rates? Not always. The entire industry of insurance uses predictive modeling to understand the risk to premium ratio to create profit while remaining financially competitive with the client. Depending on the vehicle, and…
