You may not be aware of all the underlying aspects that influence the cost of your insurance coverage. You might question why insurance is so expensive when attempting to compare prices. Prices might vary significantly from one company to another. There is no doubt premiums are going up, and coverage is changing.
Trends we are seeing now with many carriers affect your insurance, not in a good way. Some insurers, to lower their costs, here are examples.
- Reducing sub-limits on your policy.
- Adding a percentage deductible rather than a flat dollar deductible.
- Limiting sewer line coverage for homes over 50 years in age.
- Changing loss of use coverage to a reduced amount of time.
What Can You Do To Minimize Your Risk
- Read your policy and any renewal coverage change bulletins.
- Call your agent if you have any questions.
- Understand which coverage limitations you are ok with and which ones you are not. Then request changes.
You Want An Insurance Program That Will:
- Respond when a loss occurs.
- Having an agent who will respond to your questions and help you when you need it.
- It is priced correctly for the risk you have.
There is no one-size-fits-all insurance policy.
Insurance is not a product. It is a promise and a trusted relationship.