Does the insurance market seem like a dumpster fire right now?
That’s because it is.
Insurers are grappling with increasing natural catastrophes, rising claims costs, and record-breaking inflation.
Ready to dig deeper? Read here.
So what can you do about it?
Work with a local agent: Working with someone who understands the unique demands and circumstances of your geographic area can help you get the best coverage for the right price.
Customize limits: There are many different modifications in a home or auto policy that can be made to fit your budget and unique family situation.
Telematics: Participate in telematics programs with your vehicles.
Benefits of Telematics in Auto Insurance:
Personalization: Telematics allows insurers to offer more personalized insurance rates based on individual driving habits, rather than relying solely on broader statistical averages.
Incentive for Safe Driving: Drivers have the opportunity to earn discounts and potentially lower premiums by adopting safer driving habits, which can lead to increased road safety.
Young or Inexperienced Drivers: Telematics can be particularly beneficial for young or inexperienced drivers who typically face higher insurance costs. By proving themselves as safe drivers, they may be eligible for more favorable rates.
Claims Handling: In some cases, telematics data can be used to reconstruct accidents and verify the events leading up to a claim, making the claims process smoother and potentially reducing fraud.