Auto

What’s next for the collector car market? Here are four key trends insurance agents need to know for 2020 and beyond.

The gig economy is taking the U.S. employment market by storm and affecting how the insurance industry insures workers, their property and other liabilities.

After a rough ride in 2018 and 2019, the commercial auto market is continuing to harden, with more rate increases, stringent underwriting and greater scrutiny on renewals.

It’s crucial to educate commercial auto clients because “when there’s a loss,” says independent agent Sam Artino, “you’re not thinking about how much you paid, you’re thinking about how much coverage you have.”

In a complicated market, switching auto insurance providers can land drivers in hot water. For independent agents, the solution to protecting prospects and clients relies on a combination of education and personalization.

In the personal auto market, independent agent Kriss Petti Roller faces competition “everywhere I turn,” she says. “I go to Costco and they want to sell me insurance. Amazon wants to sell me insurance.”

After a tough couple of years, personal auto rates showed signs of stability in 2019. But as the market moves further into 2020, there are signs that this trend isn’t being witnessed across the board.

Telematics and data can improve an organization’s risk profile, but only when implemented carefully. Here are three key considerations to help clients steer clear of potential downfalls.

Does a personal auto insurance policy, which includes comprehensive and collision coverage, provide physical damage coverage while the car is being hauled on a trailer?

An insured’s son was riding a motorcycle with his grandparent out-of-state and was involved in an accident. Is there any bodily injury or medical payment coverage under the insured’s auto policy?