Personal Lines

With the increasing cost of insurance, inflated gas prices and supply-chain issues leading to rising costs for cars, the personal auto insurance market is on a bumpy road.

Inflation is driving up loss costs, carriers are increasing rates and underwriting guidelines are being tightened—all leading to a deteriorating auto insurance market.

In 2021, the Great Reopening brought with it a return of the auto errors & omissions claim. Swiss Re received 183 of them last year and 2022 is on track to surpass it.

Here are four potential issues that can occur during the colder months and how agents can help clients be better prepared.

Is it best practice to ensure that the personal umbrella policy effective date aligns with the date on the homeowners policy, personal auto policy or any other underlying coverage?

Dog-related claims are taking a bite out of insurer profitability, so underwriting standards are becoming more stringent.

When home systems break down, the costs to repair or replace even one of them can run well into the thousands.

A golfer’s ball broke a window in a house on a golf course. The golfer, who submitted a claim under his personal policy, was denied coverage due to “the hazards of living on a golf course.” Is the golfer legally liable?