A newly formed legislative task force is taking a closer look at the sharp rise in homeowners insurance costs across Minnesota. The Task Force on Homeowners and Commercial Property Insurance, created by the Legislature earlier this year, is charged with delivering recommendations by February 2026, ahead of the next legislative session. While the group has […]
Roof repair and replacement costs soared to nearly $31 billion in 2024—a jump of almost 30% since 2022—according to Verisk’s latest U.S. Roofing Realities Trend Report. And it’s not just about cost: roof issues are now a major factor in home insurance claims. In fact, roof-related damage made up more than a quarter of all […]
A recent analysis of homeowners insurance rates indicates that several states in the Midwest experienced the most significant increases in premiums over the past year, with American Family Insurance leading a list of ten insurers ranked by average rate changes. This analysis, released by S&P Global Market Intelligence this week, is based on homeowners rate […]
Minnesota Home Owners Are Seeing Huge Insurance Policy Hikes Because of Hail Storms. Insurance companies say they have been losing money in Minnesota the last few years because of an increase in hail storms. So they have hiked prices. Read More of the story on Kare11.com
Since 1980, the U.S. has experienced 378 weather events that resulted in damages exceeding $1 billion, according to NOAA. Cities like Hialeah, Miami, Fort Lauderdale, Hollywood, and West Palm Beach are among those facing high risks of natural disasters and consequently paying some of the highest insurance premiums. Home insurance premiums are anticipated to continue […]
As inflation eases, the expenses associated with owning a vehicle continue to rise. New data indicates that prices for all goods increased by approximately 3% compared to last year. However, car insurance rates surged by a significant 20%. Despite any positive developments in inflation, the topic of car insurance quickly brings about concerns. The rising […]
Insurance agents say Minnesota has seen more hail storms in recent years, and insurance companies are making adjustments to recoup costs. Visit Kare11 for the full article:
When it comes to buying insurance, there are two main options: working with an independent insurance agent or purchasing directly from an insurance company. While both options have their advantages, working with an independent insurance agent has several unique benefits that can help you get the best coverage at the best price. In this article, […]
Wisconsin Car Insurance Rates Increased 38.9% in 2024. What Led to the Rise in Rates? In 2022, Quadrant Information Systems reported that the average cost of a full-coverage auto policy in Wisconsin was $1,219. However, within just one year, that average has surged to $1,694, representing a significant increase of nearly 39%. This price escalation […]
Understanding the Factors Behind Rising Insurance Costs in Today’s Economy A variety of events have disrupted economies here in the US and around the world. This is impacting many industries, including the insurance industry. As your local independent agent, I want to help you understand how these challenges might impact the cost of your insurance. […]