A Guide to Collectible & Personal Article Floaters

A Guide to Collectible & Personal Article Floaters

It's a common misconception that Homeowners', Renter’s, and Dwelling policies cover all personal property, but that's not the case. While they cover some personal effects, there are often limitations and exclusions on what the policies will pay out, meaning homeowners and renters may receive less than their belongings’ value. Collectible and...

read more
How the Personal Lines Insurance Sector Will Fare in 2022

How the Personal Lines Insurance Sector Will Fare in 2022

At the beginning of 2021, higher surplus levels and favorable risk-adjusted capitalization helped the Personal Lines insurance sector. The segment overcame obstacles related to current conditions and returned to pre-pandemic frequency trends, navigated increased loss cost severity, and higher than average catastrophes. As we look ahead at what's...

read more
The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

Worsening weather conditions are leaving homes and commercial properties damaged throughout the country as they're hit by hurricanes, torrential wind and rain, and tornadoes. Even the sturdiest structures are being put to the test. With the potential for dangerous conditions increasing and the rising cost of building materials and labor,...

read more
Primary vs. Excess Flood Insurance

Primary vs. Excess Flood Insurance

Industry jargon can easily leave your clients thrown off and confused. For example, when considering insurance coverage options and recommendations, your clients may be unfamiliar with terms like "primary" and "excess," resulting in inadequate coverage in the event of a flood. When selecting policies, it's critical to know the coverage's...

read more
Insurance Appraisals: What are Inspectors Really Looking For?

Insurance Appraisals: What are Inspectors Really Looking For?

Insurance appraisals play an essential part in determining coverage types and costs for a property. Unlike a purchase appraisal, insurance appraisals don't consider a property's market or land value like they would for the sale or refinancing of a property. Instead, inspectors conduct an in-depth assessment to determine the property's replacement...

read more
How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

In the wake of natural disasters, a pandemic, and supply shortages, higher insurance rates are everywhere. Many living in coastal areas or in flood zones can also expect to see higher rates to insure their homes under the Federal Flood Insurance Program. The Federal Emergency Management Agency (FEMA) released new rules in the spring regarding...

read more
6 Marketplace Trends Impacting the Surplus Lines Homeowners Market

6 Marketplace Trends Impacting the Surplus Lines Homeowners Market

2020 is changing the landscape of the insurance world, and the effects of this shift are most obvious in the hardening market conditions for surplus lines property & casualty, as well as personal lines coverage. The cause of this shift is complex, and while a small part has been influenced by the COVID-19 pandemic, there's more to the story...

read more
Property Rates are Increasing.  What’s Driving This Trend?

Property Rates are Increasing. What’s Driving This Trend?

Policy holders may notice rate spikes in their property insurance and wonder why their premiums are rising.  Some premium increases are caused by things out of your control, like inflation, but other factors concern you specifically – including your claims history and credit score. Some reasons for a property rate hike include: Mathematics –...

read more
Difficult Homeowners Risks Just Got Easy!

Difficult Homeowners Risks Just Got Easy!

Let’s face the facts:  Your clients are going to have homeowners’ claims.  They are going to buy that coastal secondary home in Florida or California and call you the day of closing for coverage.  They are going to rent out their seasonal home on AirBnB.  They are going to tell you there is a fire department within 5 miles when there isn’t....

read more