CNBC published a great article about the rising construction cost prices, namely lumber, that is impacting homeowners insurance prices. When this story was published in February of this year, lumber had already gone up 112% in price since February of 2020. Due to these issues, reconstruction costs of homes are increasing and leaving insurance carriers to have to step up the Coverage A (Dwelling Coverage) limits on home policies. The Dwelling Coverage is the limit used when your home either needs to be repaired or re-built, and if this limit is not sufficient to cover a full re-build from the ground up, that leaves the policyholder (YOU) with a gap that would have to be paid out of pocket! Check out the article and see how lumber prices are affecting multiple aspects of the real estate industry as well as your insurance. After you have finished reading this article, find out how the Stephen Turner Agency can help you and get an agent who truly cares about you!
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3/17/2021 0 Comments Surprising Life Insurance FactsCame across a very interesting article by the Insurance Information Institute (iii) about life insurance and some pretty surprising facts associated with it. Here is a small excerpt: "Half the population estimate the cost of life insurance at more than three-times the actual cost." Find out some more wrong assumptions and important aspects about life insurance by reading the article (Link below). But please don't let your family remain in harm's way because you THINK the cost is too high to provide the financial security that is so critical after the loss of a loved one! After you have finished reading this article, find out how the Stephen Turner Agency can help you and get an agent who truly cares about you!
3/11/2021 0 Comments COVID Impacts on InsuranceOver the last 15 or so months COVID-19 has had a substantial impact on our lives. In addition to the concerns for our family's safety there are also many other things changing that people may be unaware of. Insurance is one of the industries that has been changing to combat the effects of COVID. Some for the better, and some that could leave you open to lawsuits or serious out of pocket costs! That's why we wanted to take a few minutes and go over some highlights of what may be happening to you so you stay up to date and don't find out about these changes when you have to file a claim (The worst possible time). This is not to bash any company or agent out there, but merely some information for you to ensure that your family stays protected. We do not believe in bad-mouthing others, so this is all general industry changes, and if you are concerned with any of the points below we suggest you contact your current agent and have a discussion about your specific policy with them! Good:
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AuthorThis blog will have articles written by members of Maverick Insurance as well as other relevant articles we find. We want to ensure you have the most up to date info on the insurance industry so you can make the best choices for your family! Archives
January 2023
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