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Nw Iowa | We rent office space from our insurance agent so ran into him as I was leaving. Asked how insurance business was and he said rough. He is very good agent and very thorough about his insures so I was surprised thinking he meant he was losing business. He said no, it is the companies, I think he said 20% plus raises was more common, but just fact companies are looking for ways to keep liability down. He thinks 5000$ deductible will become more and more common. He also said a lot of companies are removing paint match clause where if your siding or flooring gets damaged, they will repair damage but not whole house. He said there have been instances where a kids ball has hit vinyl siding and because it is faded some homeowners demand the whole house be resided. He also said singles claims have almost doubled in cost over last 18 months. People are expecting a lot more from insurance than they used too. Also said there are a lot of companies dropping people that have excessive claims and hard to find a insurance company that will take them on. | |
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Home Insurance 67.5% Increase
