Category: Rising Insurance Costs

Considering Reducing Your Insurance Coverage? Why Thinking “It’ll Never Happen to Me” Could Cost You Thousands

4/22/2025

With insurance rates rising over the past several years, many policyholders are looking to reduce coverage to offset those increases.

While this is understandable, by doing this they are taking on sizable financial risk that they likely can’t cover if the unexpected were to happen. Here are 3 examples:

Georgia & South Carolina Homeowners: What’s Happening with Insurance Providers?

4/15/2025

If you've tried renewing or shopping for homeowners insurance lately, you might've noticed fewer options—or worse, gotten a non-renewal notice. You're not alone.

A growing number of insurance carriers are either pulling out of southeastern states or tightening their guidelines. But why is this happening?

Here are 4 major factors:

What You Need To Know About Cancellations and Non-renewals In A Hard Insurance Market

5/23/2024

As insurers are tightening their criteria of their client portfolio due to the industry's hard market, the occurrences of cancellations and non-renewals are on the uptick.

It's especially important in this climate that you understand the difference between these two actions, reasons insurers take them, and how to avoid being the recipient of either of them.

Softening The Blow Of The Hard Insurance Market: 5 Practical Steps

5/21/2024

As with other industries, the insurance market is cyclical, and we're currently in what's called a "hard market."

A hard market is when political, societal, climate, and other factors cause insurers' profits to fall. Over the past several years, the impact of these factors have combined to a point where insurers have experienced greater losses and have had to make adjustments to maintain profitability. Insurers have become more conservative in what they are underwriting causing their portfolios to shrink and clients' premiums to rise.

Historically, hard markets haven't lasted as long as "soft markets," which is when market conditions are just the opposite. In soft markets, insurers' revenue reserves are higher and they are able to be less strict in the risk they underwrite. This allows them to increase their client portfolios, there is more competition among companies, and premiums are very stable over time.

SO, what can you do while we're in a hard market to soften its impact?

What You Need to Know About Auto Insurance Subrogation

8/16/2023

Have you ever heard of the term "subrogation" when investigating insurance but really don't understand it?

It's a legal term that is more commonly applied to auto insurance claims, and you need to understand what it is in case you ever need to use it.

So buckle up and let's dive into: 1) what auto insurance subrogation is; 2) when you should consider using it; and 3) when you should NOT use it.

Why Insurance Prices Rise

2/23/2023

Do you wonder why your insurance premiums may rise when you haven't filed a claim or had any other incident normally associated with an increase in your cost?

There are numbers of factors beyond your personal situation that may cause the cost of your insurance coverage to rise. Here are 5 examples:

Insurance Insights

Considering Reducing Your Insurance Coverage? Why Thinking “It’ll Never Happen to Me” Could Cost You Thousands

Georgia & South Carolina Homeowners: What’s Happening with Insurance Providers?

What You Need To Know About Cancellations and Non-renewals In A Hard Insurance Market

Softening The Blow Of The Hard Insurance Market: 5 Practical Steps

What You Need to Know About Auto Insurance Subrogation

Why Insurance Prices Rise

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