California and Arizona legislators are tinkering with insurance laws in ways that may be popular with voters but, as usual, there’s no free lunch. Continue reading “New Insurance Laws…No Free Lunch”
Condo insurance is used if you have a condominium, or if your HOA insures your structure through a master policy. There are some problems that can arise from this type of insurance policy. Continue reading “Problems With Condo Insurance”
My husband and I were married on the first Saturday in May which happens to be the day of the Kentucky Derby each year. So back in 2012 we ended up making two big bets and both turned out to be winners! Continue reading “10 Kentucky Derby Fun Facts”
Travel insurance is intended to cover your actual financial loss when your trip is interrupted. Do you need it? It depends. Continue reading “Do You Need Travel Insurance?”
Most captive agents are only licensed to sell insurance in one state. This creates a multitude of problems if you now have or ever acquire property or business interests that cross state lines. Desert Insurance Solutions is licensed in multiple states so we provide: Continue reading “The Value of Multistate Licensing”
A driverless Uber struck and killed a woman in Tempe, Arizona in what is the first pedestrian fatality involving the technology. Continue reading “Driverless Vehicle Kills Woman In Arizona”
This year brought Desert Insurance Solutions two new employees: Art Carroll, our Commercial Lines Account Manager and Lily Cardenas, our Personal Lines Service Manager. And we have a new website (that you are looking at right now!). Continue reading “A New Website for the New Year”
2017 wasn’t very happy for the insurance industry thanks to three nasty grinches named Harvey (in Texas), Irma (in Florida) and Maria (in Puerto Rico). Because coastal development has been so strong over recent decades, these hurricanes could result in total losses of $100 billion! Despite that massive number insurance carriers are not forecast to be overly stressed because only 18-20% Florida and Texas residents have flood insurance, and carriers have their own insurance (called reinsurance) to cover excessive loss.
Still, homeowner rates in Florida and Texas are expected to rise. Rates in Florida are already twice as high as the national average and after 2017 will likely increase more.
The news isn’t much better on the automotive side. The recent increase in miles driven was the most in 25 years. And everybody loves their cell phones: more than 400,000 people were injured in distracted driving incidents last year. Then when they are in accidents, new technology makes cars more expensive to repair. A study showed minor front-end damage to an Acura ILX that cost $1,844 to fix in 2014 cost $3,551 in 2016. It all adds up to pressure for auto rate increases nationwide.
Here in California we had devastating summer fires in the north and surprising winter fires in the south resulting in nearly $10 billion in insurance claims. Claims are high because of coastal development, questionable land management practices and the high cost of homes, particularly in Southern California. And unlike flood, fire is covered by all standard homeowners policies.
What does that all mean for you? Because many areas previously thought safe were proven to be dangerous, carriers will be taking a hard look at how they define “fire prone area”, particularly for new business. So if you live in or even near a fire prone area it’s important to keep your insurance paid up because if you let it lapse for even one day it may be non-renewed. If you buy a new house in a fire prone area and can’t get insurance from your existing carrier don’t be alarmed… at Desert Insurance Solutions we have multiple carrier options for each situation, but you can expect new policies in fire prone areas to be more expensive.
Who could forget the scenes of devastation as hundreds of California homes burned to the ground by wildfires? Imagine for a moment driving up to your home and finding everything gone: house, furnishing, computers, files, safe… maybe even your wallet and cell phone. Continue reading “Vital Data Map is a Great Risk Management Tool and its Free!”
Fall will be here soon and with it comes open enrollment for many health plans. Today I’ll cover issues for employers, employees who get insurance at work, individuals who aren’t covered at work and Medicare participants. Before I start, here are some general points to consider: Continue reading “What You Need to Know About Health Insurance”