June 2021, Vol 3, Issue 2

With the Pandemic keeping many of us at home in 2020, more incidents and accidents occurred at home, and insurance companies paid more property and liability home insurance claims.  COVID-19 also prevented many businesses from operating at full capacity, thus making supplies scarce and many businesses were not capable of keeping up with the demand. One such industry was lumber.  The supply was not able to keep up with the demand and the prices increased dramatically; limits were placed on the number of items purchased.  Because of these limitations and inflated prices, new and damaged homes are costing more to repair than years prior.  What does that mean for you?  The insurance industry is expecting changes in homeowner insurance rates starting this year as a result of claim experience from last year.  While this could result in positive changes on your auto insurance--fewer cars on the roadway have led to fewer accidents and claims on auto policies--your home's reconstruction valuation and resulting insurance premiums may see an increase.  Contact us for an account review to make sure your insurance is keeping up with the times and to make sure you are getting the right protection at the right value. 

With many TV and radio commercials preaching the state minimum and saving money, people buy into that illusion that having the cheapest insurance is the best option for them.  Even if you believe you don't have anything anyone would want, your wages can be garnished and you can be sued...

As you can imagine, we get all kinds of questions while servicing our client's accounts, and we like to share some of the most interesting/thought provoking with you.

"Can The President of the USA Lower My Car Insurance Rates?"  Recently  a client asked us this question after President Biden made remarks regarding changes he would like to make, specifically to the Public Health Insurance option within the Affordable Care Act (ACA) and to H.R. 1270 the "Prohibit Auto Insurance Discrimination (PAID) Act."  At this time, there have been...

"Does The Umbrella Only Increase Coverage When It Rains?"  In the insurance world, an umbrella policy is an affordable way to protect yourself if someone sues you for more than what is covered by your basic home or auto insurance policy.  An umbrella policy covers defense costs, and depending on your location a Personal Umbrella policy averages just $250 in premium--that's just $20 per month for $1 Million in personal liability protection.  Are you in need of this type policy?

" A successful man is one who can lay a firm foundation with the bricks others have thrown at him." 

                                                                                   - David Brinkley