InsuranceAgent411
Expert
- 27
Venting Agent
I have worked in the insurance industry for over 20 years; I've seen the ebb and flow in the insurance markets-but not like this.
For the last 11 years I have worked only in the personal lines market. It was an interesting switch from commercial lines to personal lines however for me personally and professionally it was a great move. I really enjoy working with people and educating people about their insurance; you could say I'm one of those insurance nerds; I light up with I talk about insurance. I have built up a very nice book of business with great people.
Fast forward to 2023 in the realm of personal lines insurance has been a complete nightmare for my clients! Homeowner and renters can not sustain the insurance increases on both where they live and rate increases on what they drive. Something has to give.
As an independent agent my carrier options are dwindling. Carriers are not appointing new agents; carriers are changing the coverages offered, minimum deductibles are changing, carriers not wanting to write in certain areas, carriers only want package business I could go on.....
My only saving grace is the relationships I have built with my clients over the years. I feel blessed as most of my clients that went thru another carrier/agent did allow me the opportunity to review the quote they received. I then would advise of anything they may want to get clarification on the quote provided before switching; a time or two it was better to just increase the deductible on their current policy with me.
Its been a tumultuous year; its not over and I anticipate more increases are on the way.
I have worked in the insurance industry for over 20 years; I've seen the ebb and flow in the insurance markets-but not like this.
For the last 11 years I have worked only in the personal lines market. It was an interesting switch from commercial lines to personal lines however for me personally and professionally it was a great move. I really enjoy working with people and educating people about their insurance; you could say I'm one of those insurance nerds; I light up with I talk about insurance. I have built up a very nice book of business with great people.
Fast forward to 2023 in the realm of personal lines insurance has been a complete nightmare for my clients! Homeowner and renters can not sustain the insurance increases on both where they live and rate increases on what they drive. Something has to give.
As an independent agent my carrier options are dwindling. Carriers are not appointing new agents; carriers are changing the coverages offered, minimum deductibles are changing, carriers not wanting to write in certain areas, carriers only want package business I could go on.....
My only saving grace is the relationships I have built with my clients over the years. I feel blessed as most of my clients that went thru another carrier/agent did allow me the opportunity to review the quote they received. I then would advise of anything they may want to get clarification on the quote provided before switching; a time or two it was better to just increase the deductible on their current policy with me.
Its been a tumultuous year; its not over and I anticipate more increases are on the way.
