For those that follow the cyclical trends of insurance industry pricing, you know that we are coming off one of the longest streaks of soft market (read: cheap) pricing in the history of insurance.  While cheaper prices are positive news for insurance buyers, we all know it won’t last.

In the last year or so, we’ve started seeing clear signs that commercial property coverage is starting to increase its rates.  In fact, in several circumstances, major companies like Travelers, are simply non-renewing policies for property they feel are too under-priced or pose too much risk.

Now we’re seeing official news that these premium increases are hitting homeowners as well: http://ifawebnews.com/2012/05/16/homeowners-insurance-premiums-taking-19-more-from-wallets/comment-page-1/.  With property rates starting to rise, we know that customers (who have become used to decreasing and steady prices) will start to feel the pinch.  The only way to minimize the impact is ensure you have a good broker with access to multiple markets so they can shop your insurance program as rates fluctuate.