Minnesota insurance companies have had devastating loss ratios over the past couple years from tornadoes, high winds, floods and hail. Today, this is a national problem for insurance companies. Companies are trying to offset their loss ratios by rate increases and requiring higher deductibles for wind and hail. This may help companies from moving towards actual cash value on roofs or siding like we are seeing in other states.
Dick McKenny from Minnesota Independent Insurance Association was interviewed by Fox 9 News in Minneapolis. Dick provided a comprehensive outlook on the homeowner’s insurance industry. If you have questions about an existing home insurance policy or if you are looking to have your home insured, contact the Dilley Zimny Insurance team via email or call us at (320) 726-2124.