Triple-I: Homeowners Insurance

JANUARY 22, 2025

Reforms put in place in 2024 are a positive move toward repairing Louisianas insurance market, which has long suffered from excessive claims litigation and attorney involvement that drive up costs and, ultimately, premium rates. But more work is needed, Triple-I says in its latest Issues Brief. Landry signed into law S.B.

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Shield Insurance Agency

AUGUST 20, 2024

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Additionally, small claims often require you to pay a deductible.

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AMAXX

JANUARY 13, 2025

Navigating workers’ compensation can be complex, with various parties working together to ensure effective claims management and cost containment. They are a vital entity, as they not only handle premium collections but also pay out claims to cover medical expenses and wage replacement for injured employees.

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Triple-I: Homeowners Insurance

JUNE 26, 2024

Homeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the chart below, average annual premiums climbed sharply after 2020. In 2022, average homeowners premium rates rose more than 17 percent, to $3,040.

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Leadsurance

NOVEMBER 19, 2024

How to Reduce Home Insurance Premiums without Compromising on Coverage Home insurance is many people’s key protector; it provides one with the needed cover once loss or damage occurs. The good news is that one can reduce home insurance premiums without necessarily sacrificing the cover that you get.

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QuickQuote

JULY 29, 2023

Since life insurance companies pay out multiple claims per year, you may wonder how life insurance companies make money if claims sometimes eclipse the amount earned in premiums. The answer is that life insurance company profitability is based on more than just the amount it earns in premiums.

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TGS

NOVEMBER 27, 2024

TGS Insurance » Blog Affordable Home Safety Improvements to Lower Your Insurance Premiums Owning a home is a dream come true—until those monthly bills remind you of the costs involved. From utilities to maintenance to insurance premiums, it adds up quickly. Check with local programs for assistance.

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Freeway Insurance

OCTOBER 8, 2023

Understanding how much car insurance claims typically cost involves taking a look at the complicated world of car insurance, where many things can affect the numbers. Freeway Insurance is a company well known for making sure that drivers across the United States have good insurance coverage.

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AMAXX

JANUARY 14, 2025

Predictability in Costs Workers compensation insurance can transfer a portion of the financial risk associated with workplace injuries to the insurance company. Employers pay premiums for this coverage, enabling them to forecast and plan for these costs more effectively.

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TGS

NOVEMBER 12, 2024

TGS Insurance » Blog Unlocking a Smart Home Insurance Discount: How Your Gadgets Can Lower Your Premiums If you’ve recently dipped a toe into the world of smart home technology, you’re likely familiar with the benefits of convenience. These devices can help prevent accidents and reduce the likelihood of costly claims.

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Boyle Agency Insurance

APRIL 27, 2024

Determinants Of Homeowners Insurance Premiums Certain factors have an effect on your homeowners insurance premium. These factors make filing a claim more likely, and they range from the condition of your home to your financial standing. Below we offer some factors that may affect NJ Homeowners Insurance premiums.

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Freeway Insurance

JANUARY 3, 2025

Senate Bill 1107 , which increases minimum insurance requirements, is expected to further drive up premiums statewide. This latest change could disproportionately affect communities where insurance costs already strain household budgets. As these expenses climb, insurers pass them on to drivers through higher premiums.

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AMAXX

AUGUST 7, 2024

These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. What Are Classification Rules?

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Friendly Agent

SEPTEMBER 21, 2020

Then, you will have to submit your licensing application and go through a background check before you qualify as a licensed insurance agent. Is selling life insurance a good job at 20 years old? At 20 years old, you may be a target market of insurance companies. However, take note that there are limitations.

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Scott Insurance

JANUARY 31, 2024

has seen an increase in their homeowners insurance premium. According to Money.com , an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024. What can you do to impact your homeowners premium?

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Final Expense Brokerage

NOVEMBER 30, 2024

The Concern: When clients bring up the cost of final expense insurance, it’s often rooted in the worry of affording premiums on a fixed income. The Concern: Some clients may doubt insurance companies’ reliability, especially if they’ve heard of disputes with claims. Why is it so expensive?”

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R&R Insurance

SEPTEMBER 12, 2024

These rebates may be in the form of a premium credit or a lump-sum payment. For the small employer market segment, the insurance carriers must demonstrate that they spent $0.80 For the small employer market segment, the insurance carriers must demonstrate that they spent $0.80 For the large group market, the threshold is 85%.

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Tosten Marketing

APRIL 3, 2025

insurance companies use social media for marketing purposes. For insurance agencies, educational videos prove particularly effective. An infographic comparing different types of life insurance policies (for example) can serve as a valuable resource for potential clients. Statista reports that 91% of U.S.

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TGS

OCTOBER 30, 2024

Don’t Chase the Cheapest Premium—Focus on Coverage We’ve all been there: drawn to the lowest price, only to realize it wasn’t quite the bargain we thought. The same thing happens with insurance. Sure, the premium—the amount you pay for the policy—matters. What’s more important is what that premium gets you. More savings.

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Property Insurance Centre

SEPTEMBER 25, 2024

This might seem like an advantage since this saves cost initially, though it might lead to high premium costs later on. Define the maximum amount that you are willing to spend additional in the case of a claim. Key Takeaways Building insurance is essential to protect your property, but it can be complex.

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Tosten Marketing

FEBRUARY 27, 2025

However, if poor maintenance caused the roof’s condition, your insurer might deny the claim. Sprinkler System Malfunctions Damage caused by faulty sprinkler systems usually receives coverage under commercial property insurance. Insurance companies expect property owners to address these problems promptly.

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American Agents Alliance

FEBRUARY 7, 2025

This trend describes the phenomenon of unexpected rising insurance claim costs because of societal trends and views toward litigation. Unforeseen litigation costs can drive up the costs of claims unexpectedly and policyholders may feel they were not advised of their coverage adequately.

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Bankers Insurance

MAY 16, 2024

The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. 2023 saw a continuation of many difficult conditions still affecting the homeowners insurance market today. WHAT HAPPENED IN 2023? billion each.

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Wren Insurance Agency

AUGUST 7, 2024

Additionally, your lender will add "forced placed" insurance, which will increase your monthly premiums.) If you have any pending claims with your current carrier, you will likely not have the option to make a change until that claim is closed out.

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Protect Commercial Insurance

NOVEMBER 8, 2024

By understanding your policy needs, shopping around, and exploring available discounts, you can effectively manage insurance premiums and keep your business financially secure. It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries.

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Property Insurance Centre

JANUARY 4, 2024

Get a Quote Insurance under one roof We are specialists in many types of insurance GET YOUR QUOTE GET YOUR QUOTE Key Takeaways Consistent rate increases have been experienced in the property insurance market since 2017. Inflation drives up property valuations , construction costs , and insurance premiums.

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Protect Commercial Insurance

OCTOBER 4, 2024

How Interest Rates Influence Insurance Costs Insurance premiums are sometimes indirectly influenced by interest rates. Here’s how: insurers rely on investment income to keep premiums competitive. When interest rates rise, the returns on these investments can increase, potentially affecting premium rates.

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Protect Commercial Insurance

JULY 26, 2024

It provides coverage for third-party bodily injury or property damage claims that may arise from accidents on your premises or as a result of your products or services. Product Liability Insurance As a tailor, you create and sell products to your customers. These discounts can help reduce your premiums.

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Jackson & Jackson

APRIL 29, 2024

Increase Your Deductible Increasing your deductible is one of the simplest ways to lower your insurance premiums. This means you will pay more out of pocket in case of a claim, but your monthly or annual insurance costs will be lower. Strategy: Discuss bundling options with your insurance provider.

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Protect Commercial Insurance

OCTOBER 11, 2024

As we face more frequent and intense extreme weather events, insurers are re-evaluating their policies to better manage these growing risks. Businesses now need to consider how climate change might impact their insurance premiums and coverage. Parametric insurance, for instance, is gaining traction.

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Triple-I: Homeowners Insurance

DECEMBER 3, 2024

As we’re trying to raise awareness of this problem with consumers, ‘social inflation’ doesn’t work,” said discussion moderator and Triple-I’s Chief Insurance Officer Dale Porfilio. We want to pay claims as expeditiously as possible…. Attorney advertising – estimated to total over $2.4 billion across the U.S. court cases.

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TGS

NOVEMBER 1, 2024

Knowing exactly what to do after a car accident can make all the difference in ensuring a smooth claims process, protecting your rights, and, most importantly, keeping everyone safe. Plus, having a police report on file can help you later when dealing with insurance claims. Who should you call?

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Distinguished

MARCH 17, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. However, for more significant violationssuch as major plumbing failures or fire hazardscoverage may be denied entirely, leaving the property ineligible for insurance.

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Jackson & Jackson

MAY 23, 2024

Understanding Small Business Insurance in California The Basics of Business Insurance Before diving into the world of insurance savings, it’s crucial to understand the basics of business insurance. Small business insurance covers property damage, liability claims, and employee-related risks.

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InsuredMine

MAY 2, 2024

Can you imagine a world where your car could automatically adjust your insurance premium based on how safely you drive? Or what if your home insurance could send you alerts about potential risks and offer customized coverage options? That’s where APIs come into action. But that’s just the tip of the iceberg.

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Triple-I: Workers Compensation

MARCH 21, 2023

By Max Dorfman, Research Writer, Triple-I Today’s inflationary conditions may increase interest for group captives – insurance companies owned by the organizations they insure – according to a new Triple-I Executive Brief. With these benefits, the group captive model can help to control spiraling litigation costs.

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Insurance Agency of Ohio

JUNE 9, 2018

The premium for $10,000 coverage is $25 per year. We recently had a claim for a drain line that was damaged by tree roots. Chances are, your insurance company doesn’t offer this coverage. It covers failures due to freezing, root invasion, rupture, breakage, wear and tear, and corrosion. It was a $6,000 repair bill.

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