Insuring your home can be confusing, there are dozens of insurers to choose from and while most insurance policies are pretty standard, there can be differences. One issue that crops up is the difference between homeowners insurance and hazard insurance. If you are currently shopping for coverage and wondering how hazard insurance is different than […]
Homeowners in Florida were already dealing with expensive and sometimes difficult to get homeowners insurance before Hurricane Ian hit and unfortunately the storm will most likely make the insurance market even more challenging. Many major insurance companies have pulled out of the Florida market altogether which means that most of the insurers in Florida are […]
If you have recently filed a claim on your homeowners insurance there is a good chance they have assigned an insurance adjuster to assess your claim. If you are wondering, “What exactly does a home insurance adjuster do,” you have come to the right place. An insurance adjuster will investigate your loss as well as […]
All signs point to Florida homeowners seeing their homeowner insurance bills going up as the property insurance crisis in the Sunshine state continues to grow. In August, another insurance company went belly up, this was the 10thinsurer to go under since April of 2021. As insurers go under, the Florida Insurance Guaranty Association (FIGA) which […]
As the wildfire season starts in California, and other states out West, homeowners should be aware that they may not be fully covered if their house is completely destroyed by a wildfire due to rising costs of materials and labor. Homeowners are finding out too late, often after their home has been destroyed by a […]
Homeowner insurance rates are headed up in many states this year. Colorado’s new average rate is around $3,400, Oklahoma is now $3,300, Tennesse has also moved up on the list to an average home insurance rate of $3,000 per year. Kansas and Texas are both around $2,500 for the year. While your premium may be […]
This week, the Florida rating firm Demotech downgraded four Florida insurance companies. The following insurers have seen their ratings drown from and A Prime rating: Florida Family Insurance Company – Aʹ (A Prime) to AFlorida Family Home Insurance Company – Aʹ (A Prime) to AOcean Harbor Casualty Insurance Company – Aʹ (A Prime) to AUnited Property & […]
Recently, Demotech, a rating agency which rates 40 Florida-based insurance companies, announced that it plans to downgrade 17 Florida-based property insurance companies from an “A” rating to ratings of either “S” for substantial or “M” for moderate, according to the South Florida Sun Sentinel. A rating decrease will raise costs for these insurers which will […]
Flood insurance can be a financial lifesaver if your home is flooded and, in some cases, carrying flood protection is required. If your home is located in specific flood zones, you will be required to cover flood insurance and in many cases your lender may require flood coverage if they feel the home is at […]
Many of us are concerned about how the housing market will fare as interest rates head up and a looming recession takes hold. Will home values crash as they did during the Great Recession or will they simply stop rising and settle in at their current values. While no one can predict the future, Fed […]