Jason Yates Insurance

12/06/2023

Many of the major carriers have experienced underwriting losses in the billions over the past few quarters. As a result, they are pausing operations, discontinuing their business, or tightening down on their underwriting guidelines to reduce exposure and risk.
This market is experiencing major disruption, and this will affect everyone who has home and automobile insurance. According to inflationary data, auto rates have risen 16.9% in 2023 and homeowner’s insurance premiums are up 12.4%. What’s most concerning is that indications show that this isn’t near enough to keep up with the rising cost associated with increased claims frequency and severity.
Simply put, Insurance companies can’t operate profitably in this inflationary market and, unfortunately, all of us will feel the impact.

11/01/2023

Here are some things to help you get through this current insurance market:
• Consider Higher Deductibles. Raising deductibles reduces premiums on any policies you carry.
• Look for Bundling Discounts. Having multiple policies with your carrier offers bundling discounts, especially when including your home with auto insurance.
• Have Discount Reviews. Consult with your agent/carrier on what sort of discounts are available that you might be missing out on – and be sure those are added in!
• Reduce Claims. Frequency of claims does matter, regardless of the carrier. So, try to absorb smaller claims when possible and save coverages for catastrophic losses. Consult with your agent for claims counseling.
• Tap into Local Professionals. Having a good relationship with your insurance agent is one of the best things you can do to navigate times like these. In fact, this is a great time to leverage the expertise and advice of other local professionals that cross the insurance world, such as mortgage lenders and realtors.
Lastly, remember that your insurance agent is here to help educate, make sure you have the best insurance coverages for your situation, manage your account, and council during the claims process.

08/29/2023

Many insurance companies are taking on rate and drastically increasing home and auto insurance premiums. I have been able to consult with many and help save in these areas. Reach out if you need help too!

08/17/2023