The Louisiana Legislature, in a special session last week passed and funded legislation that is designed to deter insurers from leaving the Louisiana homeowners market. Recent hurricanes have caused financial stress for insurance companies operating in the state. In addition, several insurers have gone into insolvency. Experts have made comparisons between the Louisiana insurance market […]
The Florida homeowners insurance market has been in trouble for years now and the recent hurricane season that resulted in Hurricane Ian hitting the west coast of Florida and Hurricane Nicole hitting the east coast weeks later certainly hasn’t helped. Insurers that have been struggling for years had a hard time covering all the claims that came out […]
According to the Insurance Information Institute, the pain Florida homeowners have been feeling in recent years regarding sky high homeowners premiums will continue in 2023. The Insurance Information Institute is predicting an average increase of about 40% this year for Florida homeowners. This is despite the fact that Florida lawmakers approved sweeping reforms in a […]
California has recently been hit by a shocking amount of punishing winter weather that has triggered flooding as well as mudslides across vast areas of the state. The weather has led to evacuation orders as well as damaged homes. Unfortunately, for many homeowners, the damage may not be covered by their homeowners insurance. In most […]
The answer to the question “does insurance cover roof replacement,” is not always clear cut. In most cases, it will depend on the reason that your roof needs to be replaced. If your roof has simply reached the end of its life, the cost to replace it will fall to you. On the other hand, […]
According to an AM Best analysis, Florida is the state with the most premiums in homeowner insurance lines. While Florida is the third most populous state in the country, it generated a whopping $12.4 billion of homeowners direct premiums in 2021 which is more than the most populous state, California. The Golden State generated $11.2 […]
If you are shopping for a homeowners insurance policy, there are a number of factors that will be consider when setting your premium. Insurer will look at a wide variety of risk factors when setting a premium, everything from your house, personal property, personal risk factors and regional risks will all be taken into account. […]
In Florida, a former state senator has been petitioning lawmakers to address Florida’s distressed property insurance market and is now advocating for reforms ahead of another special session that has been called to address the issue later this month. “It’s the most urgent pocketbook problem facing Florida today,” said former Republican state Sen. Jeff Brandes […]
Owning a home is huge financial commitment. There is the cost of the mortgage as well as maintenance costs and the cost of insuring your home. When it comes to insurance, the price you pay for coverage can vary dramatically depending on the variety of factors. Insurers consider the location of your home, the cost […]
Inflation is not only hitting consumer goods such as food and cars, but also impacting the cost of homeowners insurance. While the inflation rate recently hit 8.3 percent over the past 12 months, homeowner insurance has skyrocketed even more. Recently, Policygenius, ran the numbers and found that the cost to insure a home is up […]