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:
Wildfires in California, Oregon, Colorado, and Washington
8 Severe rain storms
And 1 hail storm
All with more than $1 billion in claims paid for each.
Even with none of those storms affecting the Northeast, the impact of weather disasters has home insurers reacting with premium increases from 10% to as high as 50%.
At Shepard we are examining every renewal to identify the impact of rate adjustment to each client, and develop options that are best suited to control current and future premiums.
The inability to control damage due to weather and what appears to be gradual climate change has insurer’s a bit paralyzed trying to interpret all the data. We will work very hard to stay ahead of the trends with a best effort for our clientele.
Kyle’s extensive sales and account management expertise transcends both Commercial and Personal Lines. Coupling that with his finance and life insurance licenses, Kyle serves as full service insurance agent for all of his valued clients. The goal for Kyle is to provide tailored risk management to address his client’s current and future exposures, and to optimize wealth preservation.