Category: Personal Insurance

Why are Homeowners Insurance Rates Increasing?

Over the past few years, nearly every homeowner in the U.S. has seen an increase in their homeowners insurance premium. According to Money.com, an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024.

Although individual rates are based on specific factors such as location, credit score, claims history, age of dwelling and deductible, some general trends are leading to higher rates across the board. Continue reading

Why Are Personal Auto Insurance Rates Increasing?

With very few exceptions, nearly every individual and family in the U.S. is facing higher-than-normal increases to their auto insurance premiums.  According to Bankrate, an independent publisher and comparison service, auto insurance in the U.S. costs an average of $2,014 per year, an increase of 13.72% between 2022 and 2023.

While individual rates will vary based on each individual’s circumstances and history, there are some general trends that are leading to these increases.  Continue reading

Have a Plan for Responding to Floods

Floods are the most common and widespread of all natural disasters, with many U.S. communities experiencing some degree of flooding after spring rains, winter snow thaws or heavy thunderstorms. Learning about this weather possibility and how to properly prepare for it can save lives and minimize damage.

Flood Characteristics

Most floods develop slowly over a period of days but flash floods are different, developing like walls of water in a matter of minutes, often due to intense storms or a dam failure. Flooding can create conditions favorable for a fire to occur, either by causing it or by impeding efforts to fight it. While electrical fires can occur for any number of reasons, including overloading of circuits and improper wiring practices, floodwater increases fire danger through short circuits in wiring and electrical equipment.  Continue reading

Tips for Winter Weather Travel

Nobody ever wants to be stuck in traffic or on the side of the road.  However, a situation that is typically more of an annoyance than a safety concern can become increasingly hazardous when dealing with winter weather or freezing temperatures.

An excellent example of this is the recent traffic nightmare on I-95 which Virginia Sen. Tim Kaine referred to as “dystopian” and which left some motorists stuck on the road for over 20 hours, many with limited supplies and means to stay warm. Thankfully, emergency crews were able to provide water and means of warmth to those in need, and none of the thousands involved were seriously injured.

With the possibility of another major winter storm next week and several more months of winter travel ahead, our Personal Insurance team at Scott advises you to take a few moments to create a winter travel checklist and prepare an emergency kit.  Continue reading

Winter Home Maintenance Tips