July 25, 2024
millerinsInsuring homes in wildfire-prone areas is more challenging due to several factors:
Higher Risk of Loss: Homes located in wildfire-prone areas are at a higher risk of being damaged or destroyed by wildfires. Insurers must factor in this increased likelihood of claims when setting premiums. Cost of Rebuilding: Rebuilding costs in wildfire areas can be higher due to specialized materials and construction requirements to reduce fire risk. […]
July 8, 2024
millerinsWhy are some cars harder to insure than others?
Several factors contribute to why some cars are harder to insure than others: Cost of Repairs: Cars that are expensive to repair or replace will generally have higher insurance premiums. This includes luxury vehicles or those with specialized parts. Safety Ratings: Vehicles with poor safety ratings or lacking advanced safety features may pose a higher […]
June 18, 2024
millerinsInsurance companies inspecting your roofs and how it can affect your insurability
Insurance companies typically inspect roofs for insurability using several methods: Physical Inspection: An insurance adjuster or inspector visits the property to visually assess the roof’s condition. They look for signs of damage, wear and tear, or any potential issues that could lead to future claims. Aerial Inspection: Some insurance companies use drones or aerial imagery […]
June 10, 2024
millerinsLegal system abuse creates unnecessary burdens for consumers and businesses alike.
Unnecessary, profit-driven lawsuit abuse comes at a high price, as increased litigation costs are passed down to households and businesses. According to the U.S. Chamber Institute for Legal Reform, the average American household pays a more than $3,600 “tort tax” as a result of rampant legal system abuse by trial attorneys. Nationwide, some trial lawyers continue […]
May 30, 2024
millerinsWhy electric vehicles are harder to insure
Electric vehicles (EVs) can present unique challenges for insurers, but they aren’t necessarily “hard” to insure in an absolute sense. However, several factors contribute to insurers carefully assessing risks associated with EVs: High Repair Costs: EVs often have expensive components such as batteries and sophisticated electronics. In the event of a collision or damage, repair […]
May 15, 2024
millerinsRefrigerator Ice and Water Maker Line Causing Damage and How to Prevent it
Having your fridge’s ice and water maker line causing damages can be quite a headache. Here are some steps you can take to prevent such incidents: Regular Inspections: Routinely inspect the water line for any signs of wear, tear, or damage. Look for leaks, cracks, or loose connections. This can help you catch any potential […]
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 […]
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 […]
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 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. […]