You may be hearing the term “reinsurance” more these days as the U.S. insurance market continues to struggle. So, what is “reinsurance”, and how does this affect you?
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The insurance industry is currently facing a “hard market” like never before. Many are calling it unprecedented and fear this can lead to a product availability crisis for many people. So, what is a “hard market” and what does this mean for you?
Read MoreIn an ever-evolving world where unexpected events can wreak havoc on one’s financial stability, the need for innovative insurance solutions has become paramount. One such solution that has gained significant attention is parametric insurance.
Read MoreIt's no secret that our country is facing some of the highest inflation rates of the past few decades. Over the past few years, the cost of building materials, labor, and other services have increased well beyond this high inflation rate. Like most, the insurance industry is feeling the impact and adjusting to try and keep up. But, they can't do this alone.
Read MoreThe insurance industry is notorious for being behind the curve when it comes to keeping up with the times. There's a lot of "that's how it's always been done" methodology even when data doesn't support specific guidelines or processes. These outdated practices cause-not only frustration for consumers-but frustration among agents and many of those within the insurance industry as well.
Read MoreDecember 15th was one for the record books - Wildfires, tornadoes, rain, hail, sustained winds over 50mph and gusts up to 90mph, you name it, and it hit Kansas that day. Most have described it as a scene from a sci-fi film.
Read MoreWith a massive ice storm sweeping through the Midwest, 2021 did not start well for the insurance industry. Add the usual bout of hurricanes, wildfires, hail, and tornadoes along with the rising cost of building materials and labor, and 2021 was not a good year in our industry.
Read MoreIt's not uncommon for insurance agents to hear, "The previous owners of our home said their annual premium is $1000/year; why is ours so much higher?". There are a couple of reasons behind this, but the biggest culprit is YOU! Your consumer reports, your insurance history, your personal preferences, etc., affect your insurance rates. This is why insurance rates vary so much from person to person. It's also why lenders have a hard time accurately estimating your annual premium while estimating closing costs.
Read MoreAbout a year after my husband and I bought our first home, lightning struck a tree and knocked down a power line near our house. If you have ever owned a home, you have likely experienced a similar situation. In those moments, you might have the question, "Is this an insurance thing? Who should I call?"
Now, as an insurance agent, I get these calls often. More times than not, the calls are from first-time homebuyers, but there can be some scenarios that even seasoned homeowners, and admittedly myself, need to dig into deeper.
Read MoreSeptember is National Life Insurance Awareness Month. And one of the best times to consider or re-evaluate life insurance is during a home purchase.
Read MoreIf you or anyone you know has traveled lately, you’ve heard the mumblings and grumblings about the sky-high rental car prices or just the complete lack of rental cars in general. Three years ago, you could find rental car options as low as $30/day. Now you’re lucky to find a compact or economy car option available for $60/day. And most family-friendly cars are running around $100+ per day.
Read MoreNot all door knockers are Girl Scouts. NE Kansas has been hit hard lately by roofing companies that are going door-to-door. Don’t get us wrong, there are many reputable roofing companies in our area, and your roof may have damage you’re unaware of that actually needs to be taken care of. It’s the approach and tactics used by these specific companies that have honest roofers and the insurance industry on edge.
Read MoreWhen working with homebuyers, it isn't uncommon for me to hear "we’ll send over the appraisal" or "we’re purchasing the home for 'X' amount.” While it is helpful for your insurance agent to know what you are purchasing your home for, this number is not what actually determines the amount of coverage on your home.
Read MoreHome Insurance today covers six standard types of coverage. They are broken down from A to F, and your insurance company bases your premium calculations on them. Knowing the coverages, along with what is included in specific coverages, what can be added, and what is NOT covered can maximize the benefits.
Read MoreWe've heard grumblings for about a year now about building material costs being on the rise, more specifically the price of lumber. While the impact is obvious in some industries, many don't stop to consider the impact this has on them directly.
Read MoreIf you are receiving financing on your home from a lender, you will most likely be required to have homeowners insurance. Most often this is “escrowed”, meaning the cost of your homeowners insurance is included in your closing costs and monthly mortgage payment for your lender to pay annually.
Read MoreMost homeowners are aware their homeowners insurance covers both their home and personal belongings in the event of a disaster. What many homeowners fail to realize is their homeowner policy can cover so much more! Insurance, in short, is protection from a potentially devastating financial loss. You often hear commercials dropping lines such as “when disaster strikes” and “peace of mind”… And that pretty much sums it.
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