High-value homeowners insurance is designed for homeowners who have a high net worth as well as a luxury home. These policies typically offer higher coverage limits as well as better protection for other assets. High-Value Home Insurance explained While policies can vary by insurer, a high value home is typically a home that has a […]
In a recent open letter from Florida Insurance Commissioner David Altmaier to House Commerce Committee Chair Representative Blaise Ingoglia, Altmaier detailed the fact that Florida accounts for almost three-quarters of all insurance lawsuits filed by homeowners against insurance companies in the United States. Altmaier revealed in his letter that the Florida Office of Insurance Regulation […]
The pandemic has given homeowners plenty of time to take on home renovations. Homeowners with increased savings and plenty of time on their hands has led to a dramatic increase in home projects this year. According to a recent Bank of America survey roughly 70% of Americans decided to start on a home improvement project […]
The Florida Senate is considering a plan that would make dramatic changes to the property insurance system in the state. It would allow insurance companies to limit the amount paid out for roof damage while also putting new restrictions on lawyer fees during insurance disputes. The Senate Rules Committee approved the plan (SB 76), preparing […]
Middle Tennessee has seen massive amounts of rainfall this winter and spring which has led to flooding issues across the area. As an example, Davidson County was recently hit with more than seven inches of rainfall, which resulted in the Nashville Fire Department have to rescue at least 130 people from vehicles, apartments and houses. […]
Recently, the Federal Emergency Management Agency (FEMA) released it pricing strategy for their “Risk Rating 2.0” pricing strategy. The new pricing will impact 5 million flood insurance policyholders and FEMA claims that two-thirds of older homes would see a decrease in premiums while most homeowners and businesses would only see a small increase. According to […]
There are numerous factors that insurers consider when setting your homeowners premium. Everything from your credit score to how old your home is will impact your rates and these factors can either push your rates up or down. We thought it might be a good idea to have a look at a few items that […]
Support and charity design after wildfires in southern California with Be Safe California words, map of California state, fire and heart shape. California insurance commissioner Ricardo Lara recently announced that there would be new incentives put in place for owners of older homes who upgrade their properties to make them more fireproof. The “home hardening” […]
Louisiana Insurance Commissioner Jim Donelon recently urged all property and casualty insurers in the state to extend the deadline for homeowners to file insurance claims from the historic 2020 storm season. The Commissioner issued Bulletin 2021-02 which urges insurers to give policyholders more time to demonstrate damage to their properties after last year’s record hurricane season. […]
Citizens Property Insurance Corp. may be increasing residential homeowner rates by an average of 7.2 percent this year. Citizens Property is the state-backed insurer of last resort, they have been dealing with a flood of new policyholders due to trouble in the private insurance market in Florida. According to a recent Miami Herald article, the […]