Insurance isn’t a one-time decision — it’s a way of life.
Insurance is about being prepared for whatever comes your way and making meaningful decisions to protect what matters most. From your morning commute to making online purchases or simply keeping up with your home, insurance is woven into the fabric of our daily routines. It’s about being proactive in case you get into an accident, run into cyber threats, or have damage to your property and belongings.
By addressing risks before they turn into claims, you can keep your premiums in check and save money – a great way to start the new year!
As we step into 2025, HAWK is committed to helping our clients stay ahead of potential risks. Our mission is to foster a partnership built on understanding and trust, ensuring you have the coverage you need to feel confident about the future.
This year, let’s work together to make proactive resolutions that protect your lifestyle and prepare you for the road ahead.
1. Prepare Your Policies for Inflation
The start of a new year is the perfect time to focus on routines, decluttering, and reviewing your current expenses — and your insurance fits into all three.
Rising inflation continues to be a concern for commercial and personal lines policyholders. Among the top concerns for business owners is supply chain disruptions, cyber threats, reduced capacity, and higher property premiums. While homeowners’ express reservations about the affordability of property insurance, coverage reductions and increasing replacement cost estimates.
Early intervention is a key strategy for improving outcomes in a stabilizing market. Collaboration between your insurance carrier and agent, are critical in setting expectations. A firm understanding of expectations is helpful because it provides a baseline for deciding whether to move forward, proceed with caution or change direction. This is an outcome-based approach that relies on insights and information to effectively chart course. Connect with one of advisers to learn more.
2. Understand Your Deductibles
Your deductible plays an important role in your coverage – make 2025 your year to fully understand it. Whether you’re purchasing auto or property insurance, it’s essential to understand the amount you are to pay out-of-pocket and how it aligns with your financial situation.
While some claims may be minor and not worth filing, others may be significant and require you to cover part of the cost before your carrier steps in.
With deductibles expected to increase by 5-10% this year, it’s imperative to reassess your risk tolerance and discuss whether a larger deductible or self-insured retention is the right approach. Aligning your probability of loss to your total cost of risk may help you better evaluate whether assuming more risk in return for premium savings is worthy of investigating.
3. Prepare for Virginia’s Seasonal Risks
Seasonal weather changes bring unique challenges for home and business owners. Winter’s freezing temperatures and snowstorms can lead to frozen pipes, roof damage, and icy walkways, while spring’s heavy rains and fluctuating weather may cause flooding, HVAC strain, and fire hazards. These conditions can result in uncovered risks like structural damage, liability issues, and costly repairs. Proactive maintenance and proper insurance coverage are key to minimizing these risks and protecting your property year-round.
Knowing the kinds of perils in your region is the first step to understanding your local, seasonal hazards, followed by regular policy review, preventative maintenance (such as inspecting your roof and insulating pipes in the winter and inspecting for potential flood risks and cleaning gutters in the spring), and seasonal coverage adjustments.
4. Don’t Underestimate the Value of a Life Insurance Policy
A 2024 study revealed that 40% of Americans view life insurance as solely a part of their retirement strategy. Many people mistakenly view life insurance as costly, only suitable for older individuals, or necessary only for those with dependents.
Life insurance is more than just a policy — it’s a key part of financial planning. It ensures your loved ones are protected, which is why consultation with an experienced life insurance professional is a critical first step in determining the type of policy that is best suited to fit your present and future needs.
5. Consider Investing in Safety Features
The best way to avoid filing a claim this 2025 is by staying aware of potential hazards. Many insured individuals are unaware of the steps they can take to reduce their risks and lower their premiums.
Simple measures like installing security systems, adding storm shutters, or using telematics can not only enhance safety but may also provide premium savings. Now more than ever insurance companies are partnering with their customers to reward usage of monitoring devices and other features that lower their risk profile.
6. Get Personalized Experiences, Locally
Direct writers and national brokerage firms often miss the nuances of Roanoke’s local needs and fail to address issues that are impacting our businesses, neighborhoods and community at-large. As your local insurance partner, we offer tailored advice and personal service you can count on! Whether you need commercial, personal, or employee benefits insurance, let HAWK be your trusted partner for local coverage!
So, are you ready for 2025?
Choosing HAWK means partnering with a team that’s passionate about protecting what matters most to you. We invite you to take this opportunity to connect with one of our advisers. Call us or visit our office for an in-person risk evaluation.
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