As the new year takes off, insurance companies do not seem confident that Florida lawmakers will be able to pass legislation that will help fight insurance fraud, which is currently the insurance industry’s most important issue. So far a solution to the problem has eluded Florida lawmakers mainly because insurance companies and trial lawyer groups […]
Homeowners in North Carolina recently received a temporary reprieve from the requested 18.7% increase for homeowners rates. The insurance Commissioner, who has final say on rate hikes rejected the rate increase that had been made by insurance companies writing policies in the state. While the Insurance Commissioner rejected the 18.7% increase, it may just be […]
The new republican tax plan may have an impact on your homeowners insurance that you should be aware of, in fact if your home is destroyed by fire, flood or other covered perils next year you will most likely not be able to claim the losses on your taxes. The Tax Cuts and Jobs Act, […]
Residents of the Sunshine state who use the state created insurance company Citizen Property Insurance to insure their property will be seeing on average a 6.6 percent increase in their multi-peril coverage next year. In some areas, the increase could be much higher. The rate increase has been pushed back three months to May 1st […]
There are plenty of ads on TV touting the benefits of a reverse mortgage, you can access the equity in your home while still living in it, allowing you to have a more financially exciting life. The ads claim the money can be used for travel, upgrades to your home or to simply supplement your […]
It turns out that filing an insurance claim in Florida related to Irma is the easy part for many homeowners. Getting an adjuster to sign off on the final costs and locating a contractor to make the actual repairs is much harder. According to a recent article in the Sun Sentinel, one homeowner in Miami […]
The state of Florida will receive $615.9 million in assistance from the federal government to help the areas that were hit hard by Hurricane Irma recover. The money has been earmarked to assist residents with housing, business losses as well as damaged or destroyed infrastructure such as bridges, sidewalks and roads. However, these federal funds […]
The North Carolina Insurance Commissioner, Mike Causey recently announced that the North Carolina Rate Bureau would request a statewide average increase in homeowners insurance of 18.7 percent for 2018. The NC Rate Bureau works in conjunction with the insurance companies in the state and the NC Department of Insurance will rule on the request. This […]
Hurricane Irma did some major damage to the Sunshine State. According to the most recent estimates, the total for both insured and uninsured loss could be as high as $42 to $65 billion. This figure includes both residential and commercial property losses. If you were unlucky enough to experience damage to your home, you probably […]
The fires in California have killed at least 41 people, burned roughly 217,000 acres and completely destroyed 5,700 structures. While there is no way to put a completely accurate figure on the damages just yet, State Sen. Mike McGuire said in a recent interview that damage could easily exceed $3 billion. We thought this might […]