In the world of home insurance, a carrier's reputation for reliability is one of the defining characteristics that not only helps retain policyholders, but also can help attract new customers, according to Lifestory Research, a consumer research and strategy firm.

Reputational strength and customer word of mouth become even more critical when rates increase, which many industry experts and executives anticipate for the year ahead.

"We are in the process of a correction that isn't over and won't be over in 2024," Bill Martin, president and CEO at Plymouth Rock Home Assurance, said. "It is going to keep going, and that is because we are still catching up to our costs like the increasing prices for construction materials and labor.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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