Steers Insurance Blog

With businesses facing rising inflation, continued supply shortages and soaring prices amid a Consumer Price Index hitting a 30-year high¹, we wanted to shed some light on what this means for you in terms of the impact on your insurance.

Over the past two years, we have seen an increasing trend of underinsured claims across our Personal and Commercial Property lines. Fueling this trend has been issues with customers not being adequately insured to value, resulting in higher claims coming in than what customers are insured for. With inflation hitting new record levels and driving up the costs of claims, even more, it’s more important than ever to ensure our customer's Commercial and Personal Properties are insured to value.