A family in Florida enjoying the beautiful weather and backyard pool experience. If you own your home free and clear or are just about at the end of your mortgage, you may be looking forward to the day you can call your homeowners insurance company and cancel your policy forever. While this may seem like […]
A recent study by the Insurance Information Institute (I.I.I.) confirms what many homeowners in the Sunshine State already know, that the assignment of benefits (AOB) issue that has plagued Florida the last few years has cost consumers billions of dollars in inflated claims cost and unnecessary litigation. “In Florida, abuse of AOBs has fueled an […]
California homeowners in Nevada County where the Camp Fire destroyed the town of Paradise are having a hard time finding affordable homeowners insurance. In many cases, homeowners are having trouble finding any insurance company that will cover their home after their current insurance company declined to renew their policy. Homeowners have been told that none […]
Citizens Property Insurance will be upping homeowner rates by an average of 8.2 percent for next year’s rates. This increase will affect home and condo owners as well as renters. The increase has been approved by the Board of Governors, which oversees rate increases for the state run insurer of last resort. The ongoing issue […]
Retirement budgeting can be a challenge and according to a recent survey unexpected expenses can really throw a wrench into the works. The survey, done by the Society of Actuaries, found that roughly have of retirees in their mid 70’s could not cover an unplanned expense of $10,000. Baby boomers are also having a difficult […]
California has been experiencing more frequent, and much more destructive wildfires in recent years. In fact, of the 20 worst wildfires to ever hit the state, four of them happened last year, resulting in $12.6 billion in insurance claims. This year has not been much better with the Mendocino Complex Fire, which was the largest […]
State officials in Colorado recently announced that the number of residents whose homes are at risk from wildfires has risen roughly 45 percent in the last five years. This astounding number is the result of a booming population and the changing use of agricultural land. According to the Colorado State Forest Service, 2.9 million people […]
ValuePenguin recently analyzed the cost of housing in major Florida cities and found that some cities in the Sunshine state are much more affordable than others. Housing costs varied by a mind boggling 161 percent with Lakeland being the most affordable, housing costs there run $7,992 a year while Coral Springs costs a whopping $20,868 […]
Citizens Property Insurance has delayed the decision on their rate hikes for 2019 and is planning to hold public meetings to gather input on the assignment of benefits issue which many insurers claim is the main cause of rate hikes in recent years. Citizens President and CEO Barry Gilway announced Tuesday that the insurer is […]
The non-stop rains and massive flooding that was caused by Hurricane Florence is expected to take a major financial toll on homeowners that live in North Carolina and surrounding states due to the lack of flood insurance. Only a small percentage of homeowners in the area were carrying flood insurance that would help offset the […]