Jim Feeley
Veteran
Not sure this is the right forum, but it's the closest I could find on the home page....
I just got a letter from The Hartford saying the premium for my professional/biz insurance policy (for property/equipment and usual types of liability) will "increase more than 25%" and will also have some reductions and exclusions in coverage (e.g., virus, endocrine disruptors, PFAS). I'm still happy with our broker, but not happy with this pending cost increase (for me that's about US $500 or more). I have made no claims or anything.
Has anyone else faced or about to face similar increases this year (or last)?
If you have or will, what did/will you do?
Pay the increased prices?
Accept bigger deductibles or less coverage?
Something else?
Did you navigate the changes yourself or did you work with a broker or agent?
Thanks,
Jim
PS- I'm not looking for a new agent or broker right now.
I just got a letter from The Hartford saying the premium for my professional/biz insurance policy (for property/equipment and usual types of liability) will "increase more than 25%" and will also have some reductions and exclusions in coverage (e.g., virus, endocrine disruptors, PFAS). I'm still happy with our broker, but not happy with this pending cost increase (for me that's about US $500 or more). I have made no claims or anything.
Has anyone else faced or about to face similar increases this year (or last)?
If you have or will, what did/will you do?
Pay the increased prices?
Accept bigger deductibles or less coverage?
Something else?
Did you navigate the changes yourself or did you work with a broker or agent?
Thanks,
Jim
PS- I'm not looking for a new agent or broker right now.
I also have The Hartford and did have a camera replaced about 6 years ago. It seems the equipment schedule is less important to them compared to the liability. I think it would be very dangerous to go naked so the cost is just a necessary evil.