Predictable Changes!

Big moves happening in the insurance industry as we've predicted all year. Another major regional carrier just announced they will no longer be selling home or auto products in Indiana. Guys, this is a big deal.! One of our carriers recently told us they will not take a roof over 10 years in age and then just weeks later added that they require a mandatory $2,500 wind / hail deductible on top of the age of roof requirements. Look, each carrier is accessing the book and what they can do to the home policy to make it more reasonable to offer as a carrier. Homeowners has not made a profit for any carrier I've known or worked for in my entire career dating back to 1998. The situation we find ourselves in, being required to carry homeowners, understanding that Indiana is a catastrophic home loss state naturally, then add in this global warming change to our weather. As I've noted before, this industry will never look the same as it has. Especially on the home side. As an agent I'm so frustrated that we didn't make moves sooner as an industry to address profitability and pricing for our clients. Expectations for the insured need to change now. You will pay more, for less coverage in the months and years to come. The homeowner's and auto products are bringing this industry to its knees and massive changes will take place by carrier as a result. Be prepared for changes to your current home policy in both pricing and coverage allowance. If you aren't working with a professional agent, it's time you are with someone who can sift through the changes and find the best coverage allowance for the best price. It's time to wear your consumer hat and place your business somewhere you trust so you don't compromise too much on coverage and you truly know what you have in this changing insurance environment. Reach out to me and let me know if I can help. Heather@brooksoninsurance.com - Heather