RateGuard Insurance Policy Premium Protection

RateGuard Insurance Premium Protection

What is RateGuard™ and Why You Need It!

RateGuard™ is simply a way to have peace of mind to know your insurance policies are being monitored for large rate increases over the previous renewal period.

Finding affordable insurance can be time consuming for many consumers and even more so if every year you have to start the process over.  Fortunately Insurance Brokers Group has developed a program called RateGuard™.  RateGuard™ monitors client's policies at every renewal for larger than average rate increases.  Depending if you have a six month or annual policy, we review all policies 30-45 days prior to renewal and determine if we can offer a lower cost insurance policy with the same coverage's as you currently have.  Most things in life including insurance will see small rises in cost every year, which is to be expected, but large swings could cost you hundreds more each year.

We found that many clients that were with another insurance agent or agency for 10-20-30 or more years thought they were paying good rates until we found them substantially lower cost insurance with the same coverage’s.  Normal inflation rates run 3-4%, but if your insurance company consistently increases your rates 5-10%, or more per year, you could see as much as 150% increase every 10 years in your insurance cost.  That's where RateGuard™ comes in to automatically review for those larger than normal jumps in cost.

Historically, insurance companies will raise or lower insurance rates depending on if they are interested in attracting more clients or not.  Depending on the state, city and zip codes, insurance companies will set rates to attract new business.  Even very large carriers will drop rates and go after new business, typically this will last for 1, 2 or 3 years depending how fast they can attract new clients.  After which you'll see either slow or very fast rate increases depending on their loss ratios from that new business and the overall performance of a particular segment of business, i.e. auto or home insurance.

After many years in the business I can tell you it’s sometimes like riding a roller coaster.  I've had insurance carriers drop rates for 3 years and then raise those same rates for 5 or more years.  It can be very frustrating for clients and that's why we've taken the proactive approach to search out better rates before our clients get the insurance renewal rate shock.  Actively monitoring renewal with RateGuard™ gives our clients the peace of mind that they are not going to waste their time, money or energy shopping over and over again.

If you’re ready to simplify your life and keep one of your largest annual expenses in-check, RateGuard™ offered through Insurance Brokers Group is the way to go.