An insured wants to downsize. They sell their house, move in with in-laws and buy a tenant homeowners policy with a Coverage C limit of $105,400. However, thieves break into the storage facility and steal everything.
If insurers have better visibility into whether home devices are active and functioning, they could intervene early, resolve installation or connectivity issues and ensure credits reflect genuine mitigation.
How are shifting trends impacting independent agents’ personal lines strategies? And what do clients want from their insurance relationships? Here are seven trends for the future of personal lines insurance.
Landlords who normally operate long-term rentals will convert to short-term rentals, while others, who’ve never offered short-term rentals, are expected to list their properties just for the World Cup.
In the event of a claim—dog-related or otherwise—would the carrier be able to declare the policy void back to inception due to fraud or material misrepresentation by the applicant?
DIY home inspection tools represent a new way for clients to get a faster resolution after a loss, helping eliminate the wait for adjuster availability and giving homeowners more control.
Coverage is written on a nonadmitted HO-5 form tailored to California, with Coverage A up to $2.5 million and total insurable value up to $5 million for qualifying risks.
Winter Storm Fern highlighted how quickly winter risks can escalate when cold, ice and infrastructure strain overlap. As winter risks continue to evolve, the agent’s role as educator and advisor has never been more valuable.
The insured died a week and a half before the renewal date but had already paid the renewal premium. The experts disagree on whether the policy was cancelled.
As the number of high net-worth individuals (HNW) grows and more are considering self-insuring, agents’ roles are transforming from policy placement to strategic risk advisor.
