Andrew Flueckiger is a trusted insurance expert and certified insurance counselor who’s published over 100 articles on Finder. He brings to readers a deep knowledge and understanding of multiple lines of insurance, breaking it down into comprehensive guides and reviews to help you find the best products for your needs.
As a licensed insurance agent in property, casualty, health and life insurance in Indiana, Ohio, Michigan, Kentucky and Illinois, Flueckiger offers insurance solutions on everything from commercial, farm and auto insurance, to home and life insurance.
He started his insurance career at an independent insurance agency in Indiana in 2015 and remains there today. He’s part-owner of Bixler Insurance and is active in insurance sales and agency management.
We asked Flueckiger to flex his insurance expertise by answering a few questions on trends he predicts for 2021.
While not necessarily specific to 2021, I think the coronavirus pandemic is going to force many insurance companies to be much more adaptable and flexible when it comes to what’s covered and what’s not. Traditionally, the insurance industry has always been reactive and slow to react. While it will continue to be reactive, the post-coronavirus world will demand more from insurers and will reward new companies that are more nimble and offer more comprehensive coverage options. Traditional insurance companies will need to adapt quicker than they have in the past if they want to stay relevant.
The easy and short term answer is the effect on business income insurance. The insurance industry wouldn’t be able to afford all of the potential business income claims if the coronavirus was a covered cause of loss. The jury is still out on some lawsuits about whether it should be covered or not, but expect clearer exclusions from insurance companies on future pandemics. And that strict exclusion from the insurance sector could lead to some type of government insurance fund for future pandemics to help alleviate the strain on small businesses. I expect the coronavirus pandemic to also help speed up the transition to driverless vehicles, in particular driverless semi-trucks, which will also have a profound impact on auto insurance and commercial auto insurance.
That it’s expensive and that you don’t really need it because nothing will happen to you. It’s definitely not expensive if you’re in decent health and especially if you’re under the age of 40. I understand that young people have other priorities, are on a tight budget and think nothing will ever happen to them. And nobody is requiring you to buy life insurance, unlike home and auto insurance. But if you have a family or intend to have a family some day, there is arguably no more important type of insurance out there than life insurance.
