Insurance Agent Tips

Latest Flood Maps Having Huge Impact on Home Insurance

In the last several years, the federal government has changed what it calls flood maps - which are used to determine flooding risk across the country - a number of times, and whenever these alterations are announced, many homeowners are left in tough situations. This latest round of changes seems to be impacting many people in Pennsylvania particularly hard, and it could lead many to pay significantly higher home insurance rates even if no other changes to their properties have been made. While this isn't likely to impact their existing home insurance costs, it might still be wise for agents to talk to their clients about why these changes happen and other ways they might be able to keep cos ...

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  • Climate Change a Major Issue for Home Insurers

    The home insurance industry is likely still dealing with the fallout from a number of major storms that have hit the U.S. in the last few years. Unfortunately, experts say that the frequency and severity of such weather events is only likely to increase over time. As such, the idea of global climate change is one that these policy providers should consider very seriously both now and in the future. Meanwhile, insurance agents should also take the time to discuss the impact of climate change with their clients, as well as the ways in which this might change their policy status going forward.In recent years, insurers have begun to alter how they ...

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  • Some Insurers Still Use Credit for Auto, Home Insurance Costs

    Every year, millions of Americans find that the cost of their auto or home insurance premiums increases slightly for reasons they may not always understand. Many experts caution that in at least some of these cases, an aspect of their financial lives unrelated to their liability or claims is to blame, and there may be some concern about the kinds of issues that arise from this reality. Consequently, it may be incumbent upon insurance agents to help their clients understand why these kinds of increases take place, and what they might be able to do to prevent those changes from impacting their households' bottom lines.A number of major insurers take credit inquiries and other financi ...

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  • More Consumers Turning to Tracking Technology for Auto Insurance

    In recent years, the cost of auto insurance has become a bit of a sticky wicket for many consumers, who are now on the lookout for ways to reduce their expenses for this necessary coverage. One way many are seeking to do that is by installing devices in their car that track and report their driving habits to their insurers, with the idea being that it leads to safer operation overall, and consequently reduces rates. This trend is something of which insurance agents will have to be acutely aware, so that they can answer any questions a client might have about making the switch.This kind of device is a derivative of usage-based insurance, and can be used to determine whether a person ...

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  • Pipes Freezing Can Cause Major Home Insurance Headaches

    In many parts of the country, harsh winter weather is a reality for which millions of residents are prepared every year. But in others, where cold snaps and other extreme conditions are less common, the preparation just isn't there. In Virginia, for instance, hundreds of homes and businesses in a relatively small area have seen their pipes freeze and burst, which can lead to major flooding damage and costly repairs that could take quite a long time. For these reasons, the more that insurance agents can do to help people understand the risks they face, what their policies do and don't cover, and what they can do to better protect themselves in both cases.In Virginia, residents ...

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  • Where Are Home Insurance Premiums Biggest, and Why?

    Over the last few years, the idea of paying a lot of money for all the various kinds of insurance that people have in their names has become more and more of a problem for many of them, as rate increases outstrip economic improvements that lead to better pay. Consequently, many have turned their attentions to figuring out where insurance premiums are generally the lowest, and often understand that these costs are based on a number of factors. Insurance agents may therefore be well positioned to make sure that their clients fully understand why they pay what they do for coverage, and how they might be able to help themselves feel more satisfied with their plans' costs overall.T ...

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