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While this just affects our current Grange customers, even if you’re not insured by Grange now, you may be in the future, so please read on.
This insurance market is very hard. Hyperinflation, severe weather and other factors have greatly impacted the cost of insurance, for you the consumer and for insurance companies as well.
Grange has decided to make some adjustments to the All Peril and Wind/Hail deductibles for homeowners. Home values have continued to increase, but Grange’s All Peril deductibles haven’t increased in more than 10 years. Grange believes increasing deductibles will help them protect their book of business while helping to mitigate at least a portion of their necessary rate increases for clients.
Starting December 28, 2023, an optional 1% Wind/Hail deductible and increase to the All Peril deductible will automatically be added to all renewal policies. A policyholder notice that describes these changes will be provided within the first few pages of the declarations package you receive in the mail (or via email if you’re paperless). While the higher deductibles are optional, Grange anticipates making them mandatory in 2024.
We will navigate these changes along with you (and Doug is a Grange customer, so he’ll be experiencing this first hand), so as your renewal comes in, please give us a call and we can work with you to pick the deductibles that work best for you and your budget. During the manual deductible processing phase, we will have the ability to adjust your deductible to a lower amount, but that will result in a premium increase.