COVID-19 Changing the Landscape

Covid-19 has completely changed the landscape of the insurance industry within a matter of 2 years. Employee benefits, individual health insurance, Business insurance, and Home and Auto.

At the beginning of COVID everyone was trying to save business as everyone “flattened” the curve and went remote for some period of time. Insurance companies were giving back a percent of the policy premium to insureds. The government was sending out check after check to try and keep everything operating as it normally would. But Now, Now COVID is not even talked about? The aftermath of COVID is not even being talked about? The Numbers? The Deaths? The “Hot Spots”?

If you are someone that took every precaution or someone that did not even pay attention to the pandemic, it effected your pocket if you like it or not. The supply chain was completely altered and everything became a logistical nightmare. Everyone wants to put the blame on a politician or private company to validate their opinion. The fact of the matter is you and I have to continue to pay our bills and try and build a better lifestyle for ourselves and our families.

Let’s face it, the cost of everything is going up there for the cost of insuring it is going to go up with that. Your Health, Your Car, Your Home, Your Business, and Your Toys. Insurance rates are skyrocketing throughout the nation on all lines of coverage. This is a combination of loss ratios and the cost of materials increasing throughout COVID.

The only way to be prepared for the increase in pricing is to educate yourself about what options are out there. This goes for all products and services not just insurance. If you keep doing the same thing you have always done, during this time your going to over pay for nearly all products. You need to learn to shop everything and take advantage of discounts.

Maybe you have been loyal to an insurance company for years, well I am here to tell you the days of an insurance company being loyal to you are out of the window. They are more concerned with their bottom dollar than how long you have been with them. Also if you change carriers and the coverage is the same, they will pay the claim just like the company you were with for 20 years. It's a law FYI.

So instead of taking to politics and blaming Trump or Biden. Take that time and educate yourself on ways you can spend your money differently and get the same end result. It does not cost you anything to have a 10-15 minute conversation with an insurance agent that could save you a few thousand per year. It only take 15-20 minutes to see about changing CC companies to save 3-5% on interest on your charges. It only take 10-15 minutes per day to analyze each expense and make sure that money is providing the best result.   

Also take a moment to be grateful for the assets that you insure, your doing well and with a few small changes you could be doing even better.

"Change brings the greatest Challenges, but only Challenges bring Rewards."

-Robbie Willingham-