Licensed Nationwide. Protecting You Everywhere.
IZC Insurance Agency is licensed in all 50 states plus Washington DC and can handle your insurance needs, regardless of location.
Depending on your location, insuring your assets or business can have different challenges. IZC Insurance Agency has in-house insurance experts ready to help you protect your home or business. By partnering with best-in-class insurance carriers, IZC can offer multiple quotes and insure even the hard-to-place risks.
Insuring Property in Coastal States
Generally speaking, coastal homeowners will pay more for insurance due to the higher risk of natural disasters Because hurricane damage accounts for a significant portion of coastal homeowners insurance claims, carriers could be adverse to insuring homes in states such as Texas, Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina, and North Carolina.
In 2020, Hurricane Laura caused an estimated $13.1 billion in insured losses, making it the fourth-costliest hurricane to hit the United States, according to the National Oceanic and Atmospheric Administration (NOAA).
In these states and other coastal areas, insurance companies may limit coverage for wind and hail damage or require a separate windstorm deductible. Because of these nuances in insurance coverage, it's important to partner with a knowledgeable insurance agency like IZC. Our in-house experts can help to explain the specific coverages needed for your coastal property and help shop your insurance with multiple carriers to find the best rate and coverage.
Challenges to Insuring in Wildfire Risk States
Insuring homes in wildfire-prone states like California, Colorado, Arizona, Idaho, Montana, New Mexico, Oregon, Utah and Washington can be challenging due to several factors, including:
1) Increased risk: Homes in wildfire-prone areas face a higher risk of damage or destruction, which can make insurers hesitant to offer coverage or charge higher premiums.
2) Cost of claims: Wildfire damage can be expensive to repair or rebuild, with costs often exceeding the limits of a standard homeowners insurance policy.
3) Limited availability: Some insurers may refuse to write new policies or renew existing policies in areas with a high risk of wildfires, leaving homeowners with limited options.
4) Regulatory environment: State insurance regulators may restrict the ability of insurers to increase rates or non-renew policies, making it difficult for insurers to manage risk effectively.
In 2020, wildfires in the United States caused an estimated $16.5 billion in losses, according to the National Interagency Fire Center.
To address these challenges, insurers may require homeowners to take steps to mitigate wildfire risk, such as creating defensible space around their homes, using fire-resistant building materials, and maintaining their property. Homeowners can also explore options for additional coverage, such as wildfire insurance or umbrella policies that provide higher limits of coverage.
By working with an independent agency like IZC Insurance, you can feel confident that your home has the right coverage and that you are getting the best price. Whether your home or business is located in a wildfire prone state, IZC is here to help.
Insurance for Wind and Hail Prone States
Homeowners insurance in hail-prone states such as Texas, Colorado, Nebraska, Kansas, Oklahoma, South Dakota, Wyoming, Missouri, and Arkansas is crucial to protecting your investment. Basic homeowners policies typically covers damage caused by hail to the home and its contents. However, the exact coverage and extent of the coverage can vary based on the specific policy.
From 2017-2019, hail and wind damage accounted for 35% of all insured losses for homeowners insurance companies, according to the Insurance Information Institute.
Hail losses can impact insurance premiums in several ways. If an insurance company experiences a higher number of hail-related claims in a particular area, it may increase premiums for all policyholders in that area to account for the increased risk of future claims. Additionally, if a homeowner files a hail-related claim, it could impact their individual insurance premium or eligibility for coverage in the future.
To mitigate the risk of hail damage, homeowners in hail-prone states may consider taking proactive measures to protect their property, such as installing impact-resistant roofing materials or covering windows during hailstorms. Some insurance companies may also offer discounts for homeowners who take these types of precautions.
Something For Everyone
At IZC Insurance Agency, we understand that homeowners insurance needs can vary from state to state, and even from neighborhood to neighborhood. That's why we offer insurance coverage options for everyone and everywhere, no matter where you live in the United States. Our team of experienced agents can provide customized insurance quotes to fit your specific needs and budget, whether you live in a coastal region prone to hurricanes or a hail-prone state in the Midwest. With our extensive coverage options and national reach, we are committed to helping you protect your home and your family no matter where you call home. Give us a call today at (404)-795-4807 or complete our free, no hassle online quote request below. We look forward to serving you!
