The insurance marketplace 
is not nearly as exciting as the Stock Market, but there are ebbs and flows and even major swings from time to time. The pandemic has not changed the marketplace much so far, but we anticipate changes for some lines of insurance coming soon. 
Prior to the pandemic, California policyholders have been feeling the pinch from rising property insurance rates due to the wildfires which have plagued the state over the past two years. This is not likely to go away until we have back to back years where wildfires are relatively mild. In addition to the higher rates, the availability has been severely impacted. Many areas have one or two options for coverage at most!
Auto insurers are feeling the pinch not only in personal lines, but more severely in commercial lines. The high tech equipment installed on most vehicles is costly to repair and replace, and the state has a somewhat cumbersome process for insurers to get rate increases past the Department of Insurance. 
The Umbrella market has been tight due to reinsurance costs going up for the past few years. This could be fallout from rising reinsurance costs in other lines of insurance and insurers are passing along the increases as much as possible.
Nobody wants to talk about Medical insurance because nobody is happy! The costs have been rising for years, and it’s a celebration when the increase is 6% or less which doesn’t happen all that often!
The one bright spot for purchasers of insurance is Workers Comp. The rates have been dropping for years and most employers have had to take those savings and put it toward the rising medical, auto, and umbrella insurance rates. The fly in the ointment could be that California will be requiring all Covid-19 cases to be presumed to be 
work related. Expect a tighter market to show up soon.
So as you can see, the marketplace and it’s challenges require experts to help you navigate through it. Once you get frustrated trying to buy online, give us a call and let us do the shopping for you.
