As Your Insurance Agent...
We are the intermediary between insurance companies and insurance customers. It is our role to keep you informed about what is happening in the insurance marketplace around the world, and the impact on your insurance.

We've all read the headlines...…
about rising insurance costs as a direct result of the September 11th terrorist attacks in the United States.

Why Should that affect me?

• The Pool is Depleted
  Insurance works by "spreading the losses of a few among the many". Insurance is truly a global industry and we are all affected by catastrophic losses. September 11th was one in a series of events that resulted in major claims payments such as Hurricane Andrew and the Quebec ice storms.

• Rising Insurance Premiums to Insurance Companies
  Insurance companies also buy insurance to protect against huge losses caused by major disasters. Not only have the companies paid out huge claims as a result of events like the ones listed above, their own insurance premiums have increased dramatically.

The Problem Started Long Before Sept. 11th...
The industry was already anticipating premium increases because other factors were causing claims costs to skyrocket.

• Vehicle repair costs have increased by an average of more than 10% every year.
• The frequency of bodily injury claims per 1000 auto accidents has doubled between 1994 and 2001.
• Medical and rehabilitative claims costs have risen by more than 14% annually.
• Fraud - others cheat but we all must pay. Over 35% of all auto accident claims and 26% of personal injury claims, have some element of fraud amounting to an estimated $540 million in claims.
• About $45 of every auto policy premium is a direct result of auto theft. As vehicle prices rise, so do the costs of repairing and replacing them.

Until now, these losses were offset by the investment income insurance companies were earning. Like you, your insurance companies have seen their returns on investment dramatically decline with the stock market's decline.

Now What?
Ask Your Insurance Broker
Our goal is to find you the best insurance coverage at the best rates. We can also provide service by offering you suggestions on how to control your insurance costs.

Eight tips to control insurance costs:

1. Contact your independent insurance broker and ask for a complete review of your policy to ensure all available discounts have been applied. Raise your deductible.

2. Insure both your car and home with the same insurance company and you may qualify for discounts.

3. Not all cars are created equal; some cost less to insure because of lower repair costs and risk of theft. Before buying, ask about which vehicles have a lower cost insurance rating.

4. Install theft deterrents on both your home and auto (alarm systems, vehicle immobilizers, etc.- discounts may apply).

5. Report insurance fraud to Crime Stoppers. All calls are anonymous and you may be eligible for a cash reward if your tip helps an insurance company successfully.

6. Investigate a fraud.

7. Avoid tickets. The better your driving record, the lower your insurance premiums.

8. Avoid claims by preventing collisions - yet another reason not to speed. Drive defensively, sober and awake.
Contact us with questions at (401) 348 - 2000