This year, 2024 marks an important year for Del Duke Insurance Group as we celebrate the 90th year providing insurance to the Mid-Atlantic market! Times may change, and technology continues to update the claims procedures and policy coverages; but through the decades we’ve been able to provide the best customer experience. Coverages, premiums, and claims assistance are all things that require an experienced professional to talk to when you need them most. That’s what we’ve been doing since the beginning. Here are some thoughts as we move through the new year:
Homeowners Insurance – Property loss costs surged in the first half of 2023 with Homeowners and Commercial Property claims costs increased by 36% and 30% respectively; presumably the second half, even more. Premium rates increased not just due to these natural catastrophe losses, but also inflation. As a result, insurers are restricting business in ALL markets, which it’s done by not just increasing rates dramatically, but also through crazy new eligibility guidelines that make it impossible to find insurance in some places.
Auto insurance – Rates continue to increase from 2022 and 2023, with premiums expected to exceed most barometers of claims from 2023. Some projections have shown that rates will increase by 11% in 2024 which is more than double the typical annual rise. Auto insurance rates are increasing, and new restrictions are coming into place every day. Unfortunately, the cost of repair to vehicles from accidents has gone through the roof.
So, what can be done? – Staying in touch with your Agent or Broker is crucial in finding the correct solutions to this new insurance nightmare that is looming in the distance.
Del Duke Insurance Group is a provider of a multitude carriers, allowing you to see the bullet points of different carriers versus trying to decipher the saturation of information and jargon that can confuse the consumer.
As a trusted provider for the past 90 years, we strive to educate and assist our clients, plus build professional relationships that last a lifetime. We look forward to providing you, your family, and business with the best options for your insurance needs, and proper counseling when needed. Call or email us today to see how we can help.