DeWitt Insurance Consulting

05/30/2024

As I am receiving renewals there have been some common themes on increases, but the question I always get is why am I seeing increases when nothing has changed? It is not all doom and gloom, but education is power!

Here are some key take aways from an article in The Dallas Morning News regarding the recent surge in home insurance rates in Texas.

-Home insurance rates have shot up by 54.5% from 2019 to March 2024, outpacing the national average increase of 37.8%.

-The average annual cost for home insurance in Texas has reached $4,647, placing Texas as the fourth highest in the nation.

Driving Factors:
•The average home price in DFW hitting $405,000 in April 2024 (a 15% increase from last year), replacement costs are driving premiums higher.
•Texas experienced 16 severe weather events in 2023, each causing over $1 billion in losses. Wind, hail, and other extreme weather conditions are leading to more claims and higher costs.
•Wind and hail accounted for the most (42.6%) insurance claims between 2017 and 2021 nationwide.

“Texas ranks top five in almost every peril you can think of — hurricanes, hail, wind, flooding, and more,” - Rich Johnson from the Insurance Council of Texas.

If you do not have a broker who is educating you on what is going on happy to help! If you want to get a quote as an independent agent, we work with multiple carriers to provide options on premium and coverage!

Send a message to learn more

03/21/2024

North Texas rain rain go away!

Another hail storm came through and you already fixed your roof from your last storm....what should you do??? First, anytime you have any damage home, car, or whatever get an estimate first before you file a claim. Once you call your insurance company a claim is made.

What does that mean? A claim has been filed on your history and you may can pay the cost out of pocket rather than the damage impacting your premiums. Most people think they have to file a claim, but you have a choice. You pay for your insurance yes and you should you use it when you need it, but don't use it if you can pay out of pocket. I know it sound counterintuitive, but hopefully this advice can help you consider your options.

In other news most companies are moving to a 2% for a wind hail deductible because of claims. If you have a 1% you are lucky. If you want to shop and are grandfathering in at the 1% it is important to weigh your pros and cons deductible versus premium. Safeco and Travelers are grandfathering clients. I represent these companies and can help if you are looking for a new broker, but want to stay with your carrier.

This is your Friday Eve Insurance update! If we can help please let us know!

02/16/2024

Insurance Update:

Happy Friday! Some nice to knows as renewals are approaching this year for Homeowner's Insurance or buying a home for the first time.

We are in what you call a hard market carriers are getting pickier and pickier to take on new risk. As an independent agent I have multiple carriers I partner with rather than a single solution. Example if your carrier is telling you that you have to bundle your home and auto to stay with their company in Texas, Colorado, and Oklahoma areas we can help.

It is not hopeless, but you need to partner with someone that understands the market and has the flexibility with multiple carrier options.

What we are seeing on renewals:
Increased premiums
Some carriers dropping their clients
2% wind and hail deductible is the new norm; if you have a 1% you may or may not be grandfathered in on renewal

Stay safe out there!

01/04/2024

Happy New Year! 2024 is here! What is your New Year Resolution or restart to the year? I always find having a word to focus on can be less overwhelming! This year my word is Quality! My focus is to work on having quality interactions and intentions! With that said I am hearing more and more to get the most out of insurance and make sure that individuals and businesses have quality insurance THEY ARE SHOPPING!!!

If you are looking to shop for 2024 you do not have to wait for your renewal we can shop today! All I need is your declaration of coverage pages and we can start shopping. If you are shopping for a new broker, but you like your current policies we may be able to take over as your agent while keeping your coverage in place!

Feel free to email me with any questions!

[email protected]

11/14/2023

Starting your shopping list for renewals we can help!

-Homeowner's
-Landlord
-Auto; personal, boat, RV, Trailer
-Business Auto
-Business Policies
-General Liability
-Umbrella policy

Do you have a trusted advisor you work with today? We are setting up calls for education and insurance summaries in this crazy market. All we need are your declaration pages to start the review!

11/07/2023

Thank you for the support! We are excited to help you with your insurance needs!

The flexibility of DeWitt Consulting offers you the opportunity to keep your current coverage in place in some cases if it is the best deal.

We provide a honest evaluation of your current services. Did you know you do not have to wait for your coverage end date you can shop today?

-Homeowner's insurance
-Auto Insurance: Car, Boat, Trailer, RV, and more
-Landlord Insurance
-Umbrella Insurance
-General Lines Liability: Land, Business, and more
-Builder's Risk
-Commercial Auto
-Workers Comp

We can shop it all.

Our goal is to make a complicated process uncomplicated and stress free with an honest evaluation and go above and beyond with excellent customer service/support!