Hard Market in 2012

All the signs are pointing to a “Hard” Market for 2012.  What does this mean for you?  Rates are going up!  Due to large losses and several recent catastrophes; poor economy; increased cost of doing business; poor return on investments; increased cost of reinsurance.  Expect increases anywhere from 3% to 10% – depending on line of business.   We have recently seen auto insurance rates take a slight turn upward.  Homeowners, especially coastal homes, have taken a larger jump this year.  We are starting to see the commercial market tighten up and prices are slowly starting to creep up across the board.  While many businesses can expect a flat renewal, the trend is generally upward for most commercial lines.

We have also noticed underwriters taking a harder look at exposures. Inspections have become more stringent than in the past.

The insurance industry has enjoyed a “soft” market for the past several years. Prices have been consistently low for at least 6 years now.  Inevitably, prices are going up.  I don’t expect huge jumps this year.

The best part of being an “Independent Insurance Agent” is that we have several insurance companies that we represent and we can find the right market for each client.  Let us give you a quote on your insurance today!

www.HCandCinsurance.com/quote/