We are in a hard market in regards to Property Insurance. In 2023, there were 37 thunderstorms, each causing over $1 billion in damages, up from an average of 14 annually. Insurance companies, unprepared for such losses, are raising property insurance rates and halting new policy writing. As policies are Non-Renewing and rates are rising, Homeowners should opt for independent agencies that can give multiple options to best fit their needs. To keep the rate as competitive as possible we recommend bundling policies, choose higher deductibles, and review coverage to avoid over-insurance. Installing monitored alarm systems can yield discounts of about 10%. Roofs over 15 years old hinder policy migration, as companies are not taking any roofs with age. Prioritize roof upgrades for home improvements this year, to keep your options open! As always, contact our office for more information on how to protect your home and business properties.
Holly McMillin
