Tough times in the insurance industry!
We are seeing an increase in insurance costs, not only in our office, but within all the communities we service, and with all of our competitors. A recent article from Insurance Business America stated that although insurance losses from 2018 may not have eclipsed those seen in 2017, 2018 was in fact the fourth most costliest in the insurance industry. Data they provided stated 2017 losses equaled $350 billion, while 2018 losses equaled $155 billion.
Two years in a row that are top 5 in terms of losses, is primarily what is driving our insurance cost increases, not only in our region, but nationally. In particular wildfire losses turned out to be the worst in 2018, on record, which certainly has a direct impact. The good news from this is that we are able to offer insurance from many different companies – to find our clients the best possible coverage, at the best possible price. Do not hesitate to give me a call to complete a coverage check-up, at no cost or obligation…we are more than happy to help!
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