Many homeowners in Utah have experienced home insurance premium increases. Our agency works very hard to bring our Utah clients the best possible combination of premiums, coverage and service.
We wanted to provide some important information about why Utah home insurance premiums are going up. Brutal storms over the past few years have hit insurance companies very hard. Utah home owners have grown accustomed to rates inching up; have suddenly been subject to rate hikes in the neighborhood of 20%. Utah is not the only state to experience rate increases. California, Oregon, Texas, Minnesota and North Carolina also have seen home insurance premiums increase over 25%.
Insurance premiums collected by each insurer get pooled into one pot of money used to pay losses. There may be certain years when losses exceed premiums paid. In some cases this occurs over a two or three year period. Utah has had significant weather related events including flooding, wildfire, and winter storms, which all have contributed to the increased premiums.
What Can We Do To Help?
We are an independent agency. This allows us to search the market for the best possible combination of premiums, coverage and service. We compare insurance company’s rates and use the competitive market to your advantage. Here are some ways to save on your premiums:
- Purchase all your insure through our agency
- Ask us about additional discounts
- Consider increasing your deductible
- Keep your home well maintained
- Replace your roof, water heater and other equipment when needed
- Review your policy regularly- you may not need the same kind of coverage you did a few years ago
Remember to call our office today. We will work hard for you. We will utilize ALL our markets to give you the best possible combination of coverage, price and services; that is why we are called The Insurance Mall. We know you have choices, so we thank you for choosing L.A. Bowen Insurance Agency.