Industry Insights

What caused property insurance rates to explode?

Over the past few years, property insurance rates have seen a significant increase. This surge can be attributed to several factors. The most prominent among these are the increasing number of natural disasters, the rising cost of home repairs and materials, and the overall increase in the value of homes. As these factors continue to escalate, insurance companies are forced to adjust their rates to cover the potential risks. Although these factors are important, there are several causes for increased rates. Reach out to our team if you would like to learn more.

What to expect when disaster strikes - a guide to navigating home insurance claims.

When disaster strikes, it can be overwhelming to navigate the home insurance claims process. However, understanding the process can make it less daunting. First, contact your insurance company as soon as possible to report the damage. Next, document all damage with photos and detailed descriptions. Then, fill out the necessary claim forms provided by your insurance company. Finally, work with the insurance adjuster to assess the damage and estimate the cost of repairs. Remember, patience and organization are key during this process.

Three tips for controlling your home & auto insurance rates

1. Bundle your policies: Many insurance companies offer discounts for bundling home and auto insurance policies.
2. Maintain a good credit score: A good credit score can significantly lower your insurance rates. Pay your bills on time, keep your credit balances low, and regularly check your credit report for errors.
3. Invest in safety features: Installing safety features in your home and car can reduce the risk of damage, which can lead to lower insurance rates.

At Armored Insurance, we are committed to helping you navigate the complexities of the insurance industry. Contact us today to learn more about how we can help you control your insurance rates and ensure you're adequately covered when disaster strikes.