Tag: competitive rates

Record-Breaking Auto Insurance Shopping Trends: The Game-Changer Insurance Agents Can’t Ignore

Angela Linders
auto insurance shopping trends

The national auto insurance shopping and quoting rate reached a record high between April and June of 2024, signaling significant shifts in consumer behavior. According to a new J.D. Power report, this increased activity could have varying implications for insurance agents across the country. Record-Breaking Trends The report highlighted that May 2024 matched the ongoing study’s all-time high monthly shopping rate, with 13.5% of U.S. drivers seeking new quotes. Additionally, 4.2% of drivers switched insurers, setting a new monthly high. This intensified shopping and switching activity reflects consumers’ responsiveness to…

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Sky-High Condo Association Insurance Rates Upend Lives, Rattle Industries

Loreen
condo association insurance rates

Sweeping Increases Overwhelm Condo Associations and Owners In a dramatic turn of events that’s sending shockwaves through homeowner communities, insurance rates for condo associations have surged drastically. Across the nation, residents and HOA’s are overwhelmed with increases ranging from 50% to over 500%, with states like Hawaii and Florida facing staggering hikes due to their vulnerability to hurricanes. Financial Shock Hits Retirees Hard The cost of property insurance, the most significant expense for Hawaiian Homeowners Associations, has seen a dramatic rise. For instance, a 400-unit project that previously had an…

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