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[TowerTalk] Home insurance news/tips vis. antennas

Subject: [TowerTalk] Home insurance news/tips vis. antennas
From: "Rob Atkinson, K5UJ" <>
Date: Fri, 24 Mar 2006 00:58:44 +0000
List-post: <>
Towertalk folks:

Today's Wall St. Journal carried news that home insurance rates are going to rise due to the reeling insurance industry following last year's hurricanes and an expected active 2006 season. Insurers are dropping policies in coastal areas including Massachusetts, and increasing premiums nationwide to recover losses due to hurricane damage payouts which are estimated at $56 billion currently. Rate increases are expected to spread far beyond hit coastal states, as the industry comes under new pressures since reinsurance companies, whose business it is to insure the insurers, have begun charging sharply higher prices in anticipation that hurricanes will become more frequent and more intense, and some primary insurers say they will try to recoup these added costs from consumers.

Allstate has reported it plans to seek premium increases in a "majority" of the 49 states in which it does business to help offset higher reinsurance costs.

The full report is in today's (thursday Mar. 23) WSJ on p. D1.

What does this have to do with hams. Hams have antennas. The newspaper report says industry experts are advising consumers to keep a low profile at this time. This means that you should consider self-insuring as much as possible by carrying as high a deductible as you can afford, to keep premiums low and remain attractive to insurers. Also, avoid filing small or petty claims. Never file a claim for maintenance-related damages such as a chronic water leak; even one such claim could cause you to be dropped by your insurer, according to the WSJ report. I interpret this to mean that this is not a good time to file an antenna or radio related claim on a homeowners policy.


rob / k5uj

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