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...

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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...

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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,...

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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...

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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...

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Admitted and Non-Admitted Insurance Carriers—What’s the Difference?

Admitted and Non-Admitted Insurance Carriers—What’s the Difference?

Looking at your coverage recommendations, your clients may not know the difference between admitted and non-admitted insurance carriers, and the benefits and drawbacks to each. Here’s a brief explanation you can use to help them understand the difference. If someone needs insurance for a situation that’s considered “high-risk,” they may be...

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Can You Insure That? Our Most Unusual Excess and Surplus Policies

Can You Insure That? Our Most Unusual Excess and Surplus Policies

In the world of insurance, it's not uncommon to seek out property and casualty policies. But what about situations that require coverage for more bizarre items or circumstances? At Quaker Special Risk MA, we're focused on providing clients with the best coverage, no matter how “outside-the-box” the situation is. Here are a few of the wacky...

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Is Flood Included in Homeowners Coverage?

Is Flood Included in Homeowners Coverage?

According to the Insurance Information Institute, less than 20 percent of U.S. homeowners have flood insurance, despite floods being the most costly natural hazard in the country. Many are either unaware that their insurance policies lack flood damage coverage or underestimate the likelihood of experiencing a flood-related incident.  Under most...

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Why Large Properties are Harder to Insure in 2021

Why Large Properties are Harder to Insure in 2021

Thanks to a string of natural disasters, the COVID-19 pandemic, supply disruptions, social and civil unrest, production shortages, and a slew of other economic factors, 2020 was one of the most expensive years for the insurance industry since 1970. Insurance loss estimates totaled up to $83 billion, according to Swiss Re Institute—and we’re...

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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...

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What to Do When A Construction Project Is Delayed

What to Do When A Construction Project Is Delayed

Pandemic-related supply-chain disruptions, manufacturing delays, and labor shortages are leading to building supply shortages and longer wait times for deliveries. 90% of contractors say plywood has been harder to come by, and 75% are finding vinyl siding harder to get, according to a survey by the National Association of Home Builders. Between...

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5 Traits of a Good Insurance Broker Partner

5 Traits of a Good Insurance Broker Partner

Having a good broker partner is essential to getting great rates and giving your clients and insureds stellar service. But how do you find one, or how do you know you have one? When evaluating a broker, there are a few characteristics you should look for in order to rate their quality. Here are 5 traits of a good insurance broker partner. 1. Fast...

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The Return and Rise of the Vacation Rental

The Return and Rise of the Vacation Rental

After a year of people being cooped up inside their homes, they’re eager to flee the nest for a change in scenery. With over 35% of the U.S. population now fully vaccinated, many are willing to take a chance on travel and reuniting with loved ones they haven’t seen in months. Google is reporting search queries for hotels and resorts in the U.S....

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Lumber Prices Raise New Home Prices by $24,000

Lumber Prices Raise New Home Prices by $24,000

Toilet Paper, coins, computer chips, homes for sale … The pandemic has led to short supplies of many consumer products, driving up prices. With a lack of available homes, people looking to cash in on low interest rates and buy homes better suited to post-pandemic living have all turned to new construction. In order to build new homes, contractors...

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Best Ways to Prevent Home Water Damage

Best Ways to Prevent Home Water Damage

Water damage is one of the leading causes of homeowners’ losses in the U.S. The annual cost of water damage and removal is $13 billion, and the average home insurance claim for water damage is just over $10,000.    There are many simple things your clients can do to prevent home water damage, bringing down the number of claims and overall...

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The Post-COVID Coverages Your Financially Stable Clients Need

The Post-COVID Coverages Your Financially Stable Clients Need

In the wake of the pandemic, people are making life changes, especially those who have the financial ability to do so, trying to best adjust to their “new normal.” With these major changes comes new risks and liabilities requiring different kinds of coverage. Here are some of the biggest changes your most financially stable clients are making and...

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5 Ways Insurance Should Adapt to Severe Weather Trends

5 Ways Insurance Should Adapt to Severe Weather Trends

2020 was an expensive year in natural disasters, contributing to a hard property insurance market. Unfortunately, expensive natural disasters are “trending” and expected to continue this year.  Less than normal winter rain and snowfall in regions of California lead experts to believe the state is in for a “worse than average” wildfire season,...

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Get to Know E.J. Bradley

Get to Know E.J. Bradley

E.J. is a talented, rising employee who joined Quaker Special Risk at the ground level over seven years ago. He’s now an Assistant VP handling commercial lines and environmental coverage. What brought you to Quaker Special Risk? I knew Jim Andreoli, one of the vice presidents here. When I graduated from college in 2013, he talked me into joining...

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Top 5 Solar Industry Trends for 2021

Top 5 Solar Industry Trends for 2021

While some industries are struggling in 2021 in the wake of the pandemic, renewable energy is expected to generate more revenue this year. Many new construction projects designed to help businesses move toward carbon neutrality were halted in 2020, and they’re expected to resume in 2021. In addition, the new Biden administration plans to bring...

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