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Insurance – Industry Trends


Why is Everybody Talking About Insurance?

Everybody seems to be talking about insurance these days.  More and more of your neighbors, family members and friends may be experiencing unusual premium price hikes, changes in coverage, increasing deductibles and new requirements for property and maintenance improvements.

There are several factors influencing these changes according to John Cobb, President and Chief Operating Officer of First Western Insurance.

“Insurance is a risk-shared industry. Even though you may not have had a weather-related event affecting you or your neighbors, risks are spread out among the entire industry. With severe weather events becoming more frequent across the United States, the increased risks of property damage have impacted premiums for most everyone,” Cobb explained.

“Property values, especially in Northwest Arkansas are increasing, and the cost of building materials has escalated in recent years. When your property is worth more, or when it will cost more to replace your property because of higher cost of materials and labor, you’re going to see that reflected in your premiums. The same factors are impacting automobile coverage as well, with more expensive vehicles and replacement parts.”

Cobb said First Western Insurance works with their customers to fully understand the assets they need to protect and tailors a plan to fit the individual, their family, or their business. First Western Insurance is a licensed insurance broker, meaning they represent you, by comparing pricing and coverage among a group of companies they have fully vetted.

“Think of us like a clearinghouse for all the information you need to consider when it comes to finding the most comprehensive insurance coverage for the best price, among many different highly rated insurance companies.”

Evaluating and selecting the right coverage to protect your family and business is complicated. The team at First Western Insurance has the expertise and industry knowledge to provide you with the most unbiased, cost-effective, and strongest policy recommendations. 

Call First Western Insurance today for a no-fee, no-obligation consultation. 479-424-2788.