What Determines Car Insurance Rates

  Your auto insurance is based on more than your history as a driver. The amount you pay for auto insurance is determined by a complicated algorithm that takes many factors into consideration. Your driving history is just one variable used to calculate your rate. Read on to learn more about what auto insurance carriers look at when they determine your premium. Age is a key factor.  Younger drivers are considered the riskiest to insure due to their lack of experience behind the wheel. Most insurance carriers consider a “young driver” to be [...]

2024-04-16T13:25:31+00:00April 16th, 2024|

The Solar Panel Surge: How It’s Impacting Insurance

In the ever-evolving landscape of renewable energy, solar panels have emerged as a shining beacon of sustainability and efficiency. As more homeowners and businesses opt to use the power of the sun, the implications stretch far beyond just energy production. One often overlooked aspect of this solar revolution is its impact on insurance. Traditionally, insurance policies have been designed with conventional homes and buildings in mind. However, as the installation of solar panels increases, insurers face new challenges and opportunities. Let's talk about the various ways in which solar panels are reshaping the [...]

2024-04-15T15:17:57+00:00April 15th, 2024|

How Your Roof Impacts Your Insurance

Your roof serves as more than just a protective barrier against the elements; it can significantly affect your insurance rates. Many homeowners may not realize the crucial role their roof plays in determining insurance premiums. Understanding this impact is essential for making informed decisions about your home insurance coverage. Roof Age and Material One of the primary factors insurers consider is the age and material of your roof. Newer roofs made of durable materials such as asphalt shingles, metal, or tile generally command lower insurance premiums. These materials offer better resistance to weather [...]

2024-04-03T15:33:09+00:00April 3rd, 2024|

Insuring America’s Pastime: Exploring Insurance in the World of MLB

    Baseball, America's pastime, has captured the hearts of millions for generations. From the crack of the wooden bat to the roar of the crowd, the game weaves its magic across ballparks nationwide. However, beyond the diamond's glory lies a complex infrastructure that ensures the game's continuity, and insurance plays a vital role in protecting this cherished sport. Protecting Players and Teams Major League Baseball (MLB) is a multi-billion-dollar industry with valuable assets at stake. Among its most valuable are the players themselves. Without the players, there would be no baseball. MLB [...]

2024-04-02T19:16:13+00:00April 2nd, 2024|

Farm Insurance 101

Agriculture is the backbone of our world, providing sustenance and livelihoods for billions of people worldwide. However, farming comes with risks. Weather, damage to equipment, and injured employees are just some of the many challenges that farmers must face. This is where we can help, farm insurance offers protection and comfort to our Farmers who work tirelessly to feed the world. Farm insurance is more than just protecting your farm equipment. Farm insurance financially protects your farm in the event of a covered loss.  These policies cover your farm for a range [...]

2024-03-04T19:40:34+00:00March 4th, 2024|

Hard Market FAQ

After decades of low premiums and abundant capacity - their willingness to accept new or increased risk –  the insurance market is experiencing a hard market. This is when premiums increase, coverage terms are restricted, and competition for most types of insurance decreases; in other words, insurance is getting more expensive and harder to find. A hard market can lead to a ton of questions. Let’s look at a few and go over the answers. What is a “hard market” in insurance? A hard market means insurance companies are raising rates and restricting [...]

2024-02-06T16:43:12+00:00February 6th, 2024|

Hard Market 101

You’ve already heard about how inflation is affecting everything, including insurance premiums and claims. Rates are rising and insurance is becoming harder to get. This situation is what we in the insurance industry refer to as a “hard market.” What causes a hard market? Hard markets are caused by many factors, these can include increased underwriting loss – a loss made by an insurance company in a particular period- , increases in natural disaster claims, increased litigation costs, and increased economic challenges. All of these factors make it more expensive for insurance companies [...]

2024-02-06T16:37:43+00:00February 6th, 2024|

Commitment To Community

  When Max Gannon started Gannon Associates Insurance in 1973, he founded the company on three pillars, provide insurance excellence to our clients, dedication to customer service, and a profound commitment to the communities where we live and work. Because of our commitment to our customers, the agency has grown and expanded its footprint from one office in Towanda to ten offices in Pennsylvania and New York. As the agency grew, it afforded us the opportunity to become more involved in new communities and take an active interest in organizations that support those [...]

2023-12-22T18:42:32+00:00December 22nd, 2023|

AI and Insurance

Technology is ever-evolving and one of the newest on the scene is Artificial Intelligence Technology (AI).  This technology is the simulation of human intelligence in machines and has a number of different uses. From self-driving cars and aiding in medical procedures to writing songs and making art, AI is revolutionizing many industries. Unfortunately,  with the positive side of technology comes the bad, and cybercriminals have begun to take advantage of this unprecedented technology. Cybercriminals are spoofing individual’s voices, using them to create messages full of urgency and distress, such as a car accident [...]

2023-08-31T18:15:36+00:00September 17th, 2023|

Keep Your Life Insurance When You Retire

Do you need a life insurance policy in retirement? Some people might say no. After all, the kids are grown, and the need to financially insulate the household against catastrophe has somewhat passed. But if you're thinking about dropping your coverage for either of those reasons, you may also want to consider some excellent reasons to retain, obtain, or convert a life insurance policy after you retire. Could you make use of your policy's cash value? If you have a whole life policy, you might want to utilize that cash in response to [...]

2023-09-12T19:47:56+00:00September 12th, 2023|
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