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    Over the last few years Kentucky has been hit hard by wind and hail storms.  Damage done to homes far exceeded what insurance companies projected over these past few years.  One company reported that for ever $1.00 of insurance premium payed in to them, they payed out $1.70 in insurance claims.  Lets face it, how long would any business be able to function with these type of profit loss margins. Its not just one company either thats seen these type of losses, Its most of them.  So those astronomical increases we've all seen on our insurance renewals, this is where most of them come from.  There is light at the end of the tunnel.  Companies have made ways for you to lower your rates by just revising your current insurance policy.  There are discounts available for higher deductibles,  If you had damage to your roof during the storm and had it replaced with one that has a warranty on it, there are discounts for that.  If your roof is older, think about using the actual cash value method of replacement, this can lower your insurance premiums significantly.  There are all kinds of ways to get those high insurance premiums down to a reasonable amount, it just takes time and a little figuring.  Speak with an Agent and see what you can do, they should be able to offer all kinds of ways to help get those high premiums back down to normal.
Posted 9:32 AM  View Comments

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