All of you need to get in touch with @BOBBYGRV. He and Evans Group got my auto/home/boat/umbrella squared away great. Increased my coverages, added the umbrella and still saved me money on the total yearly. Also pointed out I was grossly underinsured on my pool since the cost to replace an inground has gone up about 500% in the last decade. The replacement value I had on my inground pool would barely have bought me Walmart special Intex with what pools cost now. It’s a single line item I never noticed because at the time I created the original policy it was the right amount, but over the years no one had increased it and had something destroyed my pool I would have been screwed.
Then I added a 16 year old driver with a full coverage vehicle of her own and completely fucked myself, but that was going to happen regardless of who I was with. Evans did a nice job finding all the discounts they could for the kid though.
Thanks Jay, glad to help out and my team & I appreciate your business!
Auto insurance in NY is getting much tougher these days and the markets continue to slim down. We are seeing commission get cut on the markets who still remain, which is a nice way of telling us, don’t place business with us.
I work on the commercial side of things now, specifically with public schools. Some of those schools and other municipal accounts are seeing anywhere from 15-20% increases at renewal.
If anyone attends their local board meetings, it’s likely you’ll hear the board members talking about the rise in insurance rates, amongst the other increasing costs their facing.
One item I’ve taken interest in is the electric school bus goal that NYS has set out to accomplish by 2030. The costs of this are outrageous and not even the state can help out, without going deep in the red.
i was at an insurtech conference in OH today chatting up people who just got RIF’d.
the insurers cannot get approvals to increase rates fast enough to cover the increased costs. so they’re cutting head count by a lot and decreasing service levels.
in addition to the things i mentioned above, and i dont totally know the lingo this stuff, but the cost of rental cars (loss of use) has increased by far more than is held in reserve. This is in part due to the backlog at body shops (any good shop is booked out 6+ weeks all over the continent) but also the parts delays.
like bobby said, many insurers dont even want to write more business, some are pulling out of states entirely.
AI is a bitch. Why pay someone to sit in a cubicle and take calls/field emails/process documents when you can just automate the process and sell off the property?
Claims are more frequent and more exspensive. All that technology in your vehicle costs more to replace when it’s damaged. People are in rental cars longer due to part shortages and no work being done on the car.
In cities, car thefts are up some 400% in some cases. Some insurance companies refuse to insure certain makes/models.