October is the month for ghosts, goblins, haunted houses, and things that go bump in the night. But for California homeowners and business owners, there may be something even scarier: trying to keep up with the constantly changing insurance market.
Over the past several years, California insurance has become increasingly complicated. Carrier appetites change. Underwriting guidelines change. Discounts and eligibility requirements change. Some companies have limited new business, while others have tightened requirements or changed the areas and types of properties they are willing to insure.
And just when you think you understand the rules… they change again.
Pretty spooky, right?
This is where having a knowledgeable insurance agent becomes especially important.
Insurance should never be about simply finding the cheapest policy and forgetting about it until renewal. A good agent should understand your entire insurance picture, explain what is changing, identify potential gaps in coverage, and help you navigate your options when the market shifts.
For homeowners, that might mean understanding the California FAIR Plan and the additional coverage that may be needed alongside it. For business owners, it could mean reviewing liability limits, workers’ compensation, commercial auto, property coverage, or an umbrella policy as your business grows.
The scariest insurance surprises usually happen after a claim, when someone discovers that the coverage they thought they had isn’t actually there.
After more than 35 years in the insurance business, I’ve learned that policies will change, companies will change, and markets will change. What shouldn’t change is having someone you trust helping you understand your coverage.
So, this Halloween, enjoy the haunted houses, scary movies, and trick-or-treaters.
Just make sure the real scary stuff isn’t hiding inside your insurance policies.Happy Halloween!
Originally posted in the Valley Business Journal
