Do Younger Workers Need Disability Insurance?
Posted: January 21, 2023
Millennials and Gen Z’ers are every bit as subject to injury and chronic debilitating disease as their older co-workers. But they are much more likely to be working . . . without disability income insurance. The typical 20-something needs disability insurance even more than they need life insurance. Young people are more likely to own a life policy than disability coverage, though, for a variety...
Commercial Insurance Rates Continue To Rise in 2023
Posted: December 21, 2022
Rates for most commercial lines of insurance are likely to continue rising going into 2022, as claims costs mount across the board. A new report from Marketscout notes that rate increases have accelerated across all major lines, but have been most pronounced in liability coverages. The composite rate for commercial insurance pricing in the third quarter of 2021 was up 6.8% from the same period...
Non-Owned Auto Coverage Essential for Any Business
Posted: December 21, 2022
Even businesses that own fleets of autos sometimes use vehicles that do not belong to them. Often, you may ask an employee to run an errand or visit a customer or vendor using their own car. Your business may be legally liable for anything an employee acting on its behalf does while behind the wheel. Lawsuits and accompanying legal costs may await your business if...
Mortgage Applications More Credit Sensitive Than Ever
Posted: December 21, 2022
The Federal Housing Finance Agency (FHFA) recently announced it will begin requiring mortgage lenders to incorporate credit scores from VantageScore when evaluating potential borrowers. It also requires a transition to a new version of the FICO score (FICO 10T) for the first time in nearly 20 years. According to FHFA, the new models will “improve accuracy, strengthen access to credit and enhance safety and soundness.”...
Happy Holidays from DSD Insurance
Posted: December 21, 2022
As 2022 winds down to a close, we at DSD Insurance are thankful for the opportunity to be of service to you. The holidays are a time for reflection of yet another year gone by -- with both good and not-so-good times. 2022 was a year that brought so many significant challenges to each of us. Inflation, which had all but been forgotten, came roaring...