Insurance Rates to Rise by 2012?

Renee Darata — Fri, 04 Mar 2011 23:59:27 +0000

Insurance companies have 2 ways to make money. Through the premiums charged to consumers and businesses and also through the income made on reserves they have on hand to pay out catastrophic claims.

Reserves have declined for some carriers which will require them to raise insurance premiums to rebuild reserves.

Some analysts predict about a 10% increase in 2012. Rates have declined for several years now and insurance companies will tighten up underwriting guidelines, get out of some lines of insurance and raise rates.

Is Boat Insurance Required in Utah?

Renee Darata — Thu, 04 Mar 2010 20:30:10 +0000

Friends:

Spring is in the air. That means recreation is on our mind.

The state of UTAH does require liability insurance before you launch your boat.

Some of the Boat insurance options include:

Liabilitycoverage

Physical damage to your boat

Medical payments

Towing

Pollution liability

Personal Property (fishing gear, water skis,etc)

When purchasing a policy ask about agreed value versus actual cash value.

Agreed value coverage means in the event of a claim you will receive the agreed value minus your deductible in the event of a total loss.

Actual cash value means you will receive the fair market value on the date of loss.

I write agreed value policies. The client knows exactly how much they will receive in a total loss.

When choosing the company, keep in mind the policy choices, eligibility, and claims service.

Insurance policies and insurance companies are not all the same.

I can help.

Renee Darata » boat insurance

Insurance Rates to Rise by 2012?

Is Boat Insurance Required in Utah?