Shepard Insurance Insights
Category: Home Insurance
7 Semi-Annual Homeowner Maintenance Tips
Considering all of the natural disaster damage, and the inflation of building materials, it is clear to see why home insurance premiums are rising. Additionally, it should be clear that any submitted claims you filed against your personal home policy also remain an important driver of cost. "Regularly scheduled maintenance for your home can help [...]
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FEMA- Federal Emergency Management Association Risk Rating 2.0
What Does This Graph Say? In the graph below, the details show that there were 9 years between 2004 and 2019 that the National Flood Insurance Plan (NFIP), organized by FEMA, has either broken even, or done better, when looking at flood premiums versus flood claims. However, those 3 spike years of significant flooding has more than bankrupted the program. And now, fast forwarding to 2021 with massive flooding in Texas, Louisiana, and then the Northeast, those claims [...]
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Water Damage Claims
Another Challenge in Home Insurance Elsa, Henri, and Ida are long past, but the recovery from the flood claims linger. This creates a substantial hurdle for the real estate market. Insurance companies are working hard to understand climate change, and water damage is at the fore front. "Insurance companies are working hard to understand climate [...]
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Ida Flood Damage Intelligence
An Education with Every Disaster Seven inches of rain in less than 8 hours is an epic storm, but furthermore, Elsa, Henri, and Ida make 3 inundating rainstorms in 7 weeks. Wow! "In every challenge there is a lesson, and your education from Ida should be used for future planning." So, what did we learn [...]
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Mortgage Companies – Catching up on Insurance Exposures
Basic Homeowner Policies Are No Longer Acceptable For years, independent insurance agents stood by with wonder about the lack of concern mortgage companies have for the type of insurance a buyer uses to insure their new home and secure the mortgage. "Mortgage companies are now initiating higher standards of coverage to secure that attractive rate." [...]
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Avoiding a Hack!! Part 1
Avoiding a Hack!! Part 1 Steps to Reduce Your Exposure Cyber security is in the news with an alarming rate of cyber criminals looking at vulnerabilities both for individuals and in a larger sense businesses. There are steps you can take as an individual and a family to reduce your exposure and the painful aggravation [...]
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