Call: 203-637-6655 or email – Kyle Shepard

What is a Hard Market - Shepard Insurance Group

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 and deduct it from the premiums collected for coverage.

Whether you point the finger at global warming, or not; frequency, and more importantly intensity of these weather related storms are on the rise. In 2020 alone there were 21 weather related storms that exceeded $1billion each in claims, well beyond break even.

What does it mean?

In the fewest words, home insurance rates are going up.

What does it mean to you?

It is the right time to check in with your agent, make sure your coverage is appropriate, you are getting all the policy credits you are entitled to, and your deductible fits your financial comfortability. Having a full understanding of what are the drivers of cost will help in making the decision a bit easier to understand.

If you need help in sorting out your home insurance and the increase in premium, drop Kyle an email for some help: or call 203.698.9342.

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