01/09/2024
INSURANCE INDUSTRY UPDATE: The insurance industry is changing, and it’s affecting us all.
As your local agent, I want to help you understand a little more about what’s happening, why it’s happening and what you can do to potentially lessen the impact of these changes on your insurance.
WHAT’S HAPPENING? While insurance providers are responding differently, most are making adjustments, such as:
• Rate increases, especially for home & auto
• Pauses on issuing any new policies
• Stop on offering coverage in certain states
WHY IS IT HAPPENING? Multiple factors are leading to these changes, including:
• Increased number of severe weather events & accidents
• Inflation, supply chain issues & other market changes
• Higher cost of materials & labor
WHAT CAN YOU DO ABOUT IT? Please reach out so we can review your coverage. Historically, markets adjust — in the meantime, there may be steps you can take now to save and keep the protection you need:
• Opt in to programs that give discounts for safe driving
• Bundle home & auto for greater discounts and more stable pricing
• Talk to your agent about any other discounts you qualify for
KEEP IN MIND: Local agents are doing their best to balance industry-wide changes and continue helping you have the best insurance for you, even during these challenging times.
Please contact me or email us at [email protected] if you have questions or to set up a time to review your coverage.
Offering Business and Personal Insurance coverage options for your home, office, autos and life. Let us protect the dreams you've worked so hard to achieve.
