Page 23 - AUG2024

August 2024 NEWFOUNDLAKELIFE.COM Page 23
Real Estate
My Renewal from my Low-Cost Insurance Provider Just Arrived – Ouch
Your Insurance Guy
By Jim King neWfounD insuRance
If you have been using Geico, Progressive, Liberty Mutual, State Farm or one of the other insurance companies that advertise heavily on TV and saw a massive increase in your renewal premium, you are not alone.
Our office just received this announcement from one of those companies, The an-
nouncement in part reads:
In order to bring custom- ers the best product at a com- petitive price, we're adjusting Motor Home rates. While overall rates are increasing at the program level, individual rate changes will vary depend-
ing on a number of factors Let me start here – “while overall rates are increasing at the program level, individual rate changes will vary depend- ing upon a number of factors” – yup but you can bet it’s not
down.
Many of the insurance
companies that you see adver- tised on TV have determined that it is time to become profit- able. Their initial strategy is to enter a state or multiple states and capture market share with
incredibly low prices. It is not a new or novel strategy, rather a well-worn exercise. At some point in time, the losses from this strategy accumulate and the companies, which are typ- ically publicly held, need to provide a return to their share- holders. As a result, the game changes and they bring their premiums in line with or fre- quently higher than the com- petition in order to become profitable.
The result is that when the renewal notification arrives, customers get a severe case of sticker shock. If you are one of those that feel like you have been duped, it is because you have been duped.
So, now what? It’s simple, time to go shopping. Compare
rates. You can take on the task yourself, call Geico, Progres- sive. Liberty Mutual, State Farm or any of the others that advertise incessantly on TV or you can contact your local agent and have them do the shopping for you.
One caveat, don’t compro- mise on or reduce your cover- age limits to get a better price. Look at your unique situation, make sure you have all of the types of coverages that you need and that the amount of coverage or in insurance par- lance, the limits, are enough to cover you in the event some- thing untoward happens. You are far better off assuming the obligation of a larger deduct- ible than you are sacrificing appropriate coverage levels.
Alternatively, call us, we will do the shopping for you. Our talented staff of Customer Service specialists will guide you through the right selection process to make sure you have the right coverages for your situation at the best possible price.
Please feel free to call us with any questions or concerns about your insurance cover- ages. We are happy to help. We are here to answer any ques- tions. Feel free to call us 603- 744-5000 or email us at info@ newfoundins.com.
Our add is on the front page or visit our website www. newfoundins.com
Since 1979...
507 Lake St, Bristol, NH 03222
603-744-8526
www.OldMillProps.com
Lorna Platts Sirois Owner/Broker
“Rt. 3A, across from the bike path bridge”.
HEBRON
10 Acres on Valley View Rd, Hebron - $379,000 Nestled in low-tax Hebron, this west-facing property boasts breathtaking daily sun- set views. Everything is ready to go – the driveway is installed, the lot is cleared and leveled, and all structural engineering and septic planning for a 4-bedroom home are complete - meaning you’re on the cusp of
turning this vision into reality!
PLYMOUTH
613 Mayhew Turnpike, Plymouth - $750,000 You’ve found your mountaintop sanctuary nestled on 82 acres of lush forested land, offering breathtaking views of the surround- ing mountains. The charming cottage, with its inviting 2-bedroom, 1-bathroom layout, is the perfect retreat for those seeking tran-
quility and natural beauty.
MADELINE MCELANEY
Listing Agent | 603.306.4348
Let us show you around our home town
1294 NH Route 175, Unit #2, Campton, NH 03223
603.726.8040 info@hammondwheeler • hammondwheeler.com
North CouNtry Mortgage
Licensed by the NH Banking Department NMLS # 1438584
“Proudly Serving The Granite State”
Shawn Phillip Economides
Broker / Owner NMLS # 166706
North Country Mortgage 3727 North Main Street Pittsburg, NH 03592
Phone: (603) 348-8875 Fax: (603) 947-7907 northcountrymortgage@gmail.com
Skipper Granite & Stone