Commercial liability insurance rates are starting to edge higher after years of flat or declining rates, depending on your market. A new survey by MarketScout found that general liability, umbrella/excess and professional liability lines increased by 2% in the first quarter of 2019. Another report by insurance exchange IVANS Insurance Solutions found that rates for…Read more
Why Insurance Rates are Increasing
We are often asked why are insurance rates increasing? I didn’t file a claim or get a ticket. Insurance premiums are a function of these factors: The perception of future risks, recent catastrophic claims and the return available on investment. Huge fires and other disasters factor in, such as the Colorado Springs blazes earlier this…Read more
What Makes My Car Insurance Rate Increase?
Driving safe is something that insurance companies love their customers to do. It saves the insurance providers a significant amount of money if their insured clients do not ever have accidents. Thus, they tend to favor safe drivers with lower policy premiums and incentives like a disappearing deductible for each year they do not file…Read more
Insurance Rates Increasing in Richmond
Why are insurance rates increasing in Richmond, VA? Storms throughout the country, low interest rates and increased repair costs are putting a lot of pressure on insurance companies. Tornados, hurricanes, wild fires and strong thunder storms have caused severe damage throughout the country. Even though this damage did not happen in Richmond, insurance companies draw from the same pot…Read more