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Car Thefts in Iowa

Car Thefts in Iowa

How often do people face car thefts in Iowa? A claim came into my office today for a stolen car. I think this is only the second claim I’ve seen for auto theft in nearly five years. I wondered how common it is to get your car stolen in Iowa and this is what I found:

  • About 750,000 vehicles are stolen in the U.S. each year
  • California has the most vehicle thefts and Vermont has the least
  • Iowa car thefts rank #37 of 51 states and the District of Columbia
  • Davenport metro has the most thefts in Iowa
  • The car most stolen in the U.S. is the Honda Accord

Although there are only 13 states with lower car theft rates than Iowa, it was surprising to me that both New York and New Jersey were among them.  New York ranked as the fourth least state for stolen vehicles. Statistically, you are more than twice as likely to have you vehicle stolen in Iowa than New York. One might hypothesize that larger numbers of unlocked (with and without keys left inside) might have an measurable impact on Iowa’s theft rate.

What do you think? Leave a comment below to offer your reason why New York has a lower car theft rate than Iowa!

Posted in: Industry News, Iowa News

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Smart connected homes help protect from big homeowner insurance claims

You’ve probably seen the commercials about home security systems that send video and audio to your smart phone if someone comes to your door. But what happens if your smoke alarm goes off at home and there’s no one there to hear it? If you had early notification you could call for help even if you’re out of town to prevent a much bigger catastrophe.

Discounts on homeowners insurance

Several companies are now making home protection devices that are connected to your home Wi-Fi to send a notification to your smartphone. As more data becomes available about the devices’ effectiveness in reducing or preventing claims, you will see more and more insurance companies offering discounts to homeowners with smart connected devices. One company, State Auto Insurance of Columbus, OH is already offering such discounts for their homeowners policies.

Smart batteries for smoke alarms

There are several types of devices that monitor everything from smoke alarms, water leaks and freezing temps in your home. Smart batteries can be placed in many smoke alarms and carbon monoxide detectors. When a connected device goes off it sends you a notification to your smart phone. The data use is small so it will have only a minimal affect on your data use.

Wi-Fi enabled water leak and freeze detectors

Another smart connected device senses water leaks such as from a sump pump over-flow. Water and sewer backups can be a costly mess to clean up and repair. Insurance premiums for this coverage have been on the rise. Some companies now charge more than $260 for $10,000 worth of backup coverage while others are adding conditions for eligibility.

Additional units can be placed in other areas of the home where water leaks can appear such as:

    • Under your dishwasherWi-Fi water leak detector
    • Near the washing machine drain
    • Ice maker line on your refrigerator
    • Under sinks
    • Near the bathtub or toilet

Some water leak units also sense for out of range humidity and temperatures. If you’re out of town on a winter vacation and your furnace fails, it could freeze your water pipes. When water freezes it expands and the pressure can burst your pipes, releasing a constant blast of water into your home which could go on for days if no one is around. Other smart devices can even turn off your water when a leak is detected.

Encompass Insurance offering customers free connected home program

Smart home connected devices

Images from Roost Home Telematics

Encompass is partnering with Roost, the largest and fasting growing home telematics company in the US to offer smart home devices at no cost. The program includes a smart water leak and freeze detector and a smart 9-volt battery for smoke alarms. The insurance company is offering up to 7,000 packages for policyholders and will be tracking their effectiveness in reducing damage to homes and personal property.

If you have an Encompass homeowner policy in Iowa, contact your agent or Insurance Gurus in Cedar Rapids to register. Supplies are limited. For a free home and/or auto insurance quote from Encompass contact Ed Faber at Insurance Gurus, 319-200-4878.

Posted in: Industry News, Insurance Tips

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Top 10 Largest Insurance Carriers in Iowa

Largest Insurance Carriers in Iowa by Market Share

Which insurance carriers in Iowa have the largest share of the property & casualty insurance market? The following is based 2014 data, published in a recent issue of Viewpoint Magazine.

 

Top 10 largest insurance companies in Iowa based on share of market

Top 10 largest insurance companies in Iowa based on overall share of property & casualty market in 2014

  1. State Farm Group, 9.5%
  2. Allied Group – A Nationwide Company, 8%
  3. Farm Bureau P&C Group, 6%
  4. ACE INA Group, 4.4%
  5. Progressive Group, 4.1%
  6. EMC Ins Cos., 3.3%
  7. Travelers Group, 3.0%
  8. Farmers Mutual Hail Ins Group, 2.8%
  9. American Family Insurance Group, 2.9%
  10. QBE Americas Group, 2.9%

 

Source: Viewpoint Magazine, Summer 2015

Get affordable insurance quotes in Cedar Rapids, Iowa

Posted in: Industry News, Iowa News

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