Raise Your Deductible for Lower Insurance Rates

insurance deductible

Across North America, hailstorms are responsible for billions of dollars in property damage every year. The increase in the impact of hailstorms has “outpaced advances in detection, forecasting and mitigation.” That was the matter-of-fact and almost clinical way that the National Center for Atmospheric Research laid things out in promoting the first North America Workshop… Read more »

Managing Your Risk: Self-Insured Retentions vs. Deductibles

retentions vs. deductibles

On the dance floor, it takes two to tango, if even one partner takes the lead. It’s not a perfect analogy, but that’s the idea behind buying an insurance policy with what’s known as a self-insured retention, or SIR. With a policy with a retention clause, you take the lead in paying a claim up… Read more »

Insurance Companies Change their Hail Policies

The days of an insurance company paying in full for a brand-new roof when yours is damaged in a hail storm are over. Here's how hail policies have been changing.

Hail season is about to arrive and so it’s hard not to think of May 8, 2017. Late that afternoon, a massive storm barreled through the Denver area, unleashing baseball-sized hail just as many of us were leaving the office for the day. The damage was widespread, although it was most evident around the Colorado… Read more »

6 Ways to Save on Homeowner’s Insurance

Bundling, or insuring your home and auto with the same carrier, is a fairly well-recognized way to save money on your homeowner’s insurance premium. Smoke detectors, alarm systems and gated community patrol services also help. But there’s a lot more you can do to lower the cost of your policy. Here are seven things that… Read more »

Homeowners in Hail-Prone Colo. Now Face Higher Deductibles

Insurance carriers over the past few years have been forced to raise premiums for homeowner’s insurance in Colorado in response to a seemingly unrelenting stream of hailstorms, floods and wildfires. Going even further, some carriers are now changing their deductible formulas. These insurers are imposing deductibles based on a percentage of a home’s value rather… Read more »