Shepard Insurance Insights
Category: Home Insurance
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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What is a Hard Market?
What is a Hard Market? When Homeowner’s claims out run premiums collected! "Like it or not, insurance companies are in business to make a profit" What does it all mean? Like it or not, insurance companies are in business to make a profit, or at minimum break even when they add up all the claims [...]
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Weather Related Storms in 2020 Impacting 2021 Home Insurance Rates
Weather Related Storms in 2020 Impacting 2021 Home Insurance Rates Premium rate increases are no small change. "$21 Billion in weather claim disasters in 2020" The $21 Billion in weather claim disasters in 2020 have home insurance providers reacting. And it is not small potatoes! In 2020 across the United States there were: 7 hurricanes [...]
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Looking South
Looking South Florida Home Insurance Continues to Crumble "Florida insurers posted a $1.6b operating loss in 2020, without a major storm" In data taken from the NAIC, National Association of Insurance Commissioners, Florida represents only 8% of home insurance claims nationwide, but a staggering 76% of lawsuits filed against insurance companies. Couple that with Florida [...]
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