Blog | Ownby Insurance Service

Risk Management and Your Team’s Role in Lowering Risk

Risk Management and Your Team’s Role in Lowering Risk Workers’ compensation rates have been steadily dropping for the last decade in Tennessee and other states. And while factors like market competition and legal system improvements are factors, one of the biggest impacts has come from a reduction in claims frequency and claims severity. How has […]

Is Increasing Your Deductible a Good Idea?

Is Increasing Your Deductible a Good Idea? We’d all love to save more money, and insurance isn’t something people typically enjoy spending money to purchase. There are ways to decrease the cost of your insurance premiums, and one that is often mentioned is increasing the deductible of the policies. But is this a good idea? […]

What to Expect This Year in Insurance

Over the last 18 months, the insurance market has been “hardening” up. A hard market in insurance means that insurance companies are increasing their premiums and reducing the amount of risks they cover. This has been especially apparent on property (i.e., homes, buildings, rentals, etc.) and auto risks. Catastrophic events are often the driver for […]

Cyber Risks: Managing Versus Insuring

The recent CrowdStrike outage that impacted Microsoft Windows users cost a reported $5 billion to Fortune 500 companies. But even if you aren’t a large company, you’re probably aware that cyber risks continue to increase for businesses, whether it be data breach, hacking, phishing, or otherwise compromising systems. Cyber Protection Whether it is the Windows […]

Restaurants, Alcohol Sales Percentage, and Liquor Liability

Restaurants and bars have specific, and sometimes unique, risks to cover. One of those risks centers around alcohol sales and consumption on their premises. And while it may seem obvious, how much they sell is key. But how much is too much? The corresponding coverage for this risk is called Liquor Liability Insurance, and there […]

Do Life Changes Impact Your Needs for Life Insurance?

A new year can often bring in changes in life. New jobs, new family additions, new businesses, personal changes – there are many things that can impact your planning for a new year. And although it may not be at the top of your list, how do these changes impact what – or whom – […]

The Changing Marketplace for Cabin Insurance

In case you haven’t noticed, the insurance market has changed significantly this year. Prices are up and the options for coverage are fewer. So, what does that mean for insuring your cabin or vacation rental property? It means you need to work with someone who understands what’s going on and how it impacts your specific […]

Insurance Premiums and the Economy – What’s Happening?

Is it inflation? Is it a recession? Is it just weird? Our nation’s economy is definitely in flux right now. And while what exactly is happening might be debated, there is no debate that it is impacting everyday Americans. One of those impacts is in the cost of insurance. How and why? Let’s review the […]

Do You Have Coverage for Your Hunting Equipment?

As we get into the Fall hunting season, many people are prepping their gear and making their plans. The value of much of that gear can add up quickly. Tree stands, apparel, ammunition, and not to mention, firearms and bows, can all add up to a hefty sum. So, are you covered by insurance for […]

The Impacts of Social Inflation on Insurance

You may have heard or read that the insurance industry is experiencing a “hard market” right now. What does that mean? It typically refers to a marketplace that has increased premiums, stricter underwriting, and a tighter appetite of what risks insurance companies are willing to cover. And while impacts like material costs, labor shortages, and […]