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Tuesday, June 4, 2024

Insurance Woes & How to Win in the Hard Market

They call it the Hard Market.  Consumers and businesses alike are feeling the pain and challenge of placing insurance in our Coastal area.  Several carriers have pulled out of the market completely, and some homeowners and businesses have had their policies suddenly cancelled and are struggling to adequately cover their properties at an affordable rate. What on earth has happened???


1. High risk and frequency of natural disasters: Coastal regions are prone to natural disasters such as hurricanes, floods, and earthquakes. Insurance companies perceive these areas as high-risk zones, leading to higher premiums and deductibles. Some insurance providers may even refuse to provide coverage altogether.


2. Limited availability of insurers: Due to the increased risk, many insurance companies limit their coverage or withdraw from coastal regions. This limited market competition can result in higher prices and fewer options for consumers.


3. Limited coverage options: Insurance companies may offer limited coverage options in coastal regions, especially for specific perils like flood or wind damage. This can leave individuals and businesses vulnerable to financial losses if they experience damage from uncovered perils.


4. Increased premiums and deductibles: Insurance premiums and deductibles tend to be higher in coastal regions due to the increased risk. This can make coverage less affordable for some individuals and businesses, leading to a lack of adequate protection. Higher inflation and construction costs and repair costs put further pressure to increase rates and required coverage levels.


5. Coverage exclusions: Insurance policies for coastal regions often contain exclusions or limitations for certain perils, such as storm surge or coastal erosion. These exclusions can leave policyholders with significant gaps in coverage.


To address these challenges, it is important for individuals and businesses in coastal regions to shop around with knowledgeable local insurance experts. They can help you navigate the insurance landscape, identify suitable coverage options, and find ways to mitigate risks. Additionally, investing in risk reduction measures, such as a new roof, and implementing storm-resistant building features like impact glass can help reduce insurance costs and increase your chances of obtaining coverage.  Other discounts may be available for a centrally monitored alarm, being in the military or being a first responder, installing smart home devices, and more.  Ask about available discounts.


Angelyn Treutel Zeringue is President of SouthGroup Insurance Services, a CPA, PWCAM, CBIA, and licensed Trusted Choice Insurance Agent.  Reach Angelyn at, (228) 385-1177, or

Your Trusted Choice Insurance Agent, SouthGroup Insurance Gulf Coast wants you to know you can call on us with your questions or concerns seeking more helpful advice or answers to your pressing insurance questions. A full insurance review is always your best bet to make sure you have all of the adequate coverage for your personal insurance needs. Remember, we offer a personalized insurance review to anyone who is interested at no charge – just visit any one of our convenient locations!

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Melissa Dunn, Alex Treutel,  Anne Gillam, Mark Strickland, Joseph Eagle, Michael Scardino, Melinda Teaford, Wendy Butler, Gabriella Scardino and Brittany Eagle at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email:, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook , or Twitter ! We now have more locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy.  We help you save money on insurance!
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