The Hanover: Coverage Confidence Gaps Leave Homeowners Confused
The Hanover survey points to a coverage confidence gap between what consumers say they value in homeowners coverage and what they have taken the time to verify.
Homeowners
Top 5 Most-Read Articles in Independent Agent in May
May brought news of moderating pressures in the long-suffering personal lines space, with early signs that increases in reconstruction costs and personal auto premium hikes may be beginning to slow.
Roof Claims Decline but Losses Become Increasingly Severe
While claims declined, roof losses continue to grow more severe and less predictable, driven by aging housing stock, widespread hail exposure and rising replacement costs, according to Verisk.
Underwriting and Liability Considerations for Multi-Dwelling Properties
An elderly couple built a one-story dwelling on their property for themselves and sold the property’s primary dwelling to their child.
Reconstruction Costs Decelerate as Personal Lines Premium Increases Slow
While every state saw residential and commercial reconstruction costs increase, premiums for personal auto and homeowners policies show signs of deceleration.
How Resiliency Measures Are Impacting the Homeowners Market
Consumers can protect their homes and positively impact premium levels by being proactive with resilience measures to reduce claim severity.
How Agents Can Support Homeowners as the Market Stabilizes
By conducting regular coverage checkups, agents can play an essential role in helping their homeowner clients reassess their coverage and limits to ensure they’re properly protected.
Deep Fakes: The New Front Line in Insurance Fraud
In the age of AI, the question for insurers is no longer whether digital deception will impact their business, but rather how quickly they are prepared to respond.
One Loss, Two Deductibles: Equipment Breakdown or Homeowners Loss?
A homeowner had a loss where the HVAC system’s condensate pump failed due to a mechanical breakdown. The HO3 policy with an equipment breakdown endorsement—form 16016—with a separate $500 deductible appears to indicate the condensate pump and the resulting water damage should be covered under the equipment breakdown endorsement. The insurance carrier says otherwise.
Emotional Support: Teacher’s Dog Bites Child at School
If a teacher’s dog bit a child on school property, would the teacher’s personal liability policy respond or would it be excluded? And would the school be liable?
