Navigating the Current Hardening of the Property Insurance Market


The hardening of the personal and commercial property insurance market refers to a trend of stricter underwriting standards, reduced coverage options, and increased premiums. Insurance carriers are becoming more cautious due to factors like catastrophic events, climate change, and rising litigation costs. In response, some insurance carriers have implemented moratoriums, temporarily suspending or limiting coverage in specific areas or for certain types of risks. These moratoriums aim to manage the carriers’ risk exposure and ensure the sustainability of their operations in the face of challenging market conditions. read more

El Niño: Should you buy flood insurance to protect your home?

What you should know about flood insurance:

You’ve probably heard this horror story before — someone loses a home due to a flood and learns after the fact that standard homeowners insurance doesn’t cover flood damage.

At Sparrow General Insurance Agency we want you to be educated about all of the risks you may face – before a loss occurs – so you can determine what insurance coverage is appropriate. Spring is a prime season for flooding, so now is a good time to review your options. read more

I’m borrowing my friend’s car … am I covered?

At Sparrow General Insurance Agency we often get questions about borrowing or loaning a car and so I thought this article would be helpful.

Now that summer is here you might be looking to borrow your neighbor’s truck for a home-improvement project or a trip to the local landfill so it’s an especially good time to provide you with information about this topic.

Generally, insurance coverage follows the vehicle rather than the driver. So, thankfully, in most instances, as long as the owner of the car has insurance, it’s covered even if someone other than the owner is driving it — as long as they have the owner’s permission. read more