Dog-Related Claims Cost $1 Billion in 2022
Over the past 10 years, the average cost per dog-related claim has risen 131.7% across the U.S., an increase attributable to increased medical costs, as well as social inflation.
Homeowners
What’s the Difference Between a DP3 and a HO3?
A client had a secondary home insured with the DP3 that they just moved into on a fulltime basis. When talking with clients, what’s the best way to explain the difference between a DP3 and HO3 homeowners policy?
Personal Lines Rate Increases Moderate in Q1 2023
While homeowners and personal articles insurance on a composite basis were down slightly in the first quarter of 2023, auto insurance rates increased.
Applied Underwriters Launches Homeowners MGA
Applied Home National Underwriters will act as a managing general agent and will represent eight carriers, five from Applied and three from other carriers.
Is Providing a Replacement Cost Estimate to Lenders an E&O Exposure?
Mortgage lenders are requiring agents to supply a replacement cost estimate (RCE) for refinance closings. Is this something the agents should be doing?
Perfect Storm Creates ‘Hardest Market Cycle in a Generation’
Rising economic and social inflation, supply chain constraints, catastrophic weather driving up losses, and historic cost increases for reinsurance has led to significant pressure on the property-casualty industry.
‘Worrying Sign’ as Homeowners Repair, Claim Times Increase but Digital Usage Declines
Severe events, inflation and supply chain-related concerns coupled with the strain on digital tools has led to increased dissatisfaction among homeowner clients.
Spring Cleaning: 6 Ways to Help Homeowners Prevent Losses
Agents can help clients understand that spring isn’t just a time to prepare their home for the season ahead, it’s also a time to check for damage done during the winter months before it becomes an insurance claim.
Only 9% of Homeowners Adjusted Limits for Inflation, Supply Costs
While construction costs on single-family homes were up nearly 17% in 2022, 56% of homeowners have not reviewed their homeowners policy in the last year.
The Forecast for Solar Panels and Homeowners Insurance
More and more homeowners may be considering making the change to powering their homes with solar panels. But what does that mean for homeowners insurance?
