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 is a good chance that Florida homeowners will be paying more for flood insurance in the near future according to a new analysis done by First Street Foundation, a nonprofit research group that is focused on how climate change impacts on property value. Their analysis found that most Florida residents face a higher flood […]
Austin, Texas – Feb 16, 2021: Blizzard in Austin, Texas creates difficult conditions for drivers because of the thick snow on the road. There is a good chance that property damage claims from the shocking winter storm that hit Texas last month will be the largest number of claims generated by any single event in […]
According to a new report from research group First Street Foundation, hundreds of thousands of homeowners all across the U.S. would have to pay considerably more in flood insurance rates if the premiums accurately reflected the risk of the home instead of being federally subsidized. The report was issued as the Federal Emergency Management Agency […]
There are currently three bills that are working their way through the Florida Legislature which are designed to deal with the cost of homeowner roofing claims, attorney’s fees as well as problems with insurance carriers being notified regarding lawsuits. The goal of this legislation is to help lower Florida homeowners insurance cost which has become […]
Baby Boomers, which is the generation born between 1946 and 1964 retired in record rates during 2020. According to statistics, roughly 2 million boomers have retired every year since 2011. However, in 2020, a whopping 3.2 million boomers turned in their two-week notice. Luckily, Baby Boomers have seen a huge surge in home values as […]
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 […]
One of the major costs of owning a home is properly insuring it. The cost of homeowners insurance can vary dramatically by state but regardless of where you live, you are most likely paying more for homeowners coverage than you did a few years ago. According to the National Association of Insurance Commissioners, home insurance rates […]