According to Florida House Speaker Paul Renner, homeowners will have to continue waiting for lower Florida homeowner insurance rates. As premiums continue to soar due to insurers pulling out of the Florida market, local legislators say it will be years before premiums start to decline. In an interview with House Speaker Paul Renner that aired […]
If you are considering renting out your home or a portion of your home as a short-term rental, one of your first concerns should be making sure you have the proper homeowners insurance for your rental property. The proper homeowners insurance coverage will make sure you are fully protected in the case of damage to […]
Last week, Farmers Insurance announced it would no longer be selling home, auto, and umbrella policies in Florida, becoming the latest insurance company to pull out of the Florida market. Progressive said they needed to “effectively manage risk exposure.” “We have advised the Florida Office of Insurance Regulation (OIR) of our decision to discontinue offering […]
Shopping for homeowners insurance can be a somewhat tedious undertaking but one that is extremely important to fully protecting your home. When shopping for coverage you will need to gather the personal information the insurer will need to set your premium, compare those quotes and then finalize your coverage. If your home is in a […]
Having to deal with a home insurance claim can be frustrating and time consuming. Regardless of whether your home suffered a fire, burglary or other major cataphoric event, repairing your home and replacing your personal possessions that were damaged or destroyed will be your first priority. If you are a hunter or sport shooter, it […]
A state agency in Florida is selling municipal bonds to backstop the state’s homeowner’s insurance industry. This is due to a large number of claims and litigation that resulted in some insurers going bankrupt. The Florida Insurance Guaranty Association, which deals with the claims left behind by insolvent insurers, is planning to borrow $600 million […]
As we enter only the second week of hurricane season, two property insurance companies are scaling back homeowner policy sales and coverages, claiming that their vulnerability to natural disasters and flooding makes writing policies in some parts of Florida unsustainable. AIG and The Farmers Group joined a variety of other insurers in the decision to […]
Solar power boomed in 2022 with residential solar projects growing by a shocking 40 percent according to the Solar Energy Industries Association. This was the result of a recording setting 700,000 homeowners installing solar into their homes. In most cases, a homeowner will have to finance a solar system as they tend to be expensive. […]
When it comes time to purchase a house, most likely the biggest expense you will consider is the down payment. While your down payment will be a huge expense, there are other costs that must be considered when purchasing a home. Closing costs, which include the fees and taxes that must be paid to finalize […]
Homeowner insurance rates have been climbing for more than five years, increasing a shocking 19.1 percent since 2018 according to ValuePenguin. This trend will continue in 2023. According to the latest ValuePenguin study, between Jan. 1 and March 17, 2023, homeowner insurance premiums have increased 2.8% across the country. “In 2023, the rising cost of […]