February 21, 2024
millerins2024 Property and Casualty insurance trends to be aware of
In our ever changing insurance market we have seen some general trends to be aware of and their impact on the insurance industry. Some of these trends to be aware of include: Technology Integration: The insurance industry continues to adopt advanced technologies such as artificial intelligence, machine learning, and data analytics to enhance underwriting processes, […]
March 7, 2024
millerinsWhat to look for when purchasing insurance
When purchasing insurance, there are several key factors to consider to ensure you’re getting the coverage that best fits your needs. Here are some things to consider: Coverage Types: Understand what types of coverage are available for your specific needs. Common types include auto insurance, life insurance, homeowners or renters insurance, motorcycle insurance, RV insurance, […]
March 20, 2024
millerinsThe importance of replacing your roof for insurance purposes
Coverage Eligibility: Insurance companies may require that your roof be in good condition to provide coverage. If your roof is old, damaged, or in poor condition, it may not be eligible for coverage, or your insurance claim may be denied in case of damage. We are seeing more and more insurance companies not renewing home […]
April 2, 2024
millerinsWhat is Social Inflation and how does it impact insurance costs?
Social inflation refers to the phenomenon where increasing litigation costs, higher jury awards, and other societal factors contribute to rising insurance claim costs. This can lead insurance companies to increase their rates to cover these higher costs. Factors contributing to social inflation include: Litigation Trends: A rise in litigation frequency and severity, including larger settlements […]
April 15, 2024
millerinsThe importance of using your insurance for large losses versus small ones
Using insurance for large losses rather than small ones can be financially prudent for several reasons: Cost Control: Insurance premiums are often influenced by claim frequency. Making small claims frequently can lead to higher premiums over time. By reserving your insurance for significant losses, you can avoid frequent claims and potentially keep your premiums lower. […]
April 23, 2024
millerinsHow does an accident affect my insurance? Should I pay for a small claim myself?
An accident can indeed affect your insurance premiums, typically resulting in an increase. Insurance companies base their rates on risk, and if you’re involved in an accident, they may view you as a higher risk to insure. However, the extent of the impact can vary depending on several factors, such as the severity of the […]
April 29, 2024
millerinsBest ways to protect your home from wildfire
Protecting your home from wildfires requires a combination of proactive measures and preparation. Here are some of the best ways to safeguard your home: Create Defensible Space: Maintain a buffer zone around your home by clearing vegetation, debris, and other flammable materials. Aim for at least 30 feet of defensible space, and consider extending it […]
May 10, 2024
millerinsHow should insurance fit in my financial portfolio
Insurance plays a critical role in your financial portfolio by providing protection against unexpected events that could otherwise derail your financial stability. Here’s how insurance should fit into your overall financial strategy: Risk Management: Insurance helps you manage various risks in life, such as health issues, accidents, property damage, and even death. By transferring these […]