Recently, three property insurance bills that were designed to stabilize the Florida insurance market and temper skyrocketing homeowner insurance premiums failed to pass the Florida legislature. This was a disappointment to both homeowners and insurers as property insurance premiums continue to head up, in fact, premiums shot up almost 25 percent in the last year. […]
Beautiful coastal homes by the seaside in Rodanthe, North Carolina It looks like it’s going to be a good news, bad news situation in North Carolina this year when it comes to homeowners insurance rates. Let’s start with the good news. The Rate Bureau, which represents insurance companies operating in North Carolina requested an average […]
When Forbes looked at the numbers, they found that Hawaii was the cheapest state for homeowners insurance where the average premium came in at a very affordable $558. Oklahoma grabbed the dubious title of being the most expensive state in the country for homeowners insurance with an average premium that hit $4,122, which is a shocking […]
Homeowners insurance in Florida has been an issue for a number of years as insurance companies continues to raise premiums, drop customers or pull of the state entirely. While lawmakers have made an effort to get rates under control, so far, they have been unsuccessful. However, lawmakers are again making an effort to bring the […]
While most people are worried about inflation pushing up the cost of everyday items, one group in particular has a lot to lose as prices continue to rise. Senior citizens, those living on a fixed income and people who are on the verge of retirement will be impacted by inflation in greater numbers than people […]
As premiums continue to soar and homeowners move their insurance policies to Florida’s insurer of last resort, Citizens Property Insurance Corp, legislators are attempting to deal with Florida’s failing homeowners insurance market. However, the Florida Senate and House will have to figure out ow to bridge their differences and determine how far they are willing […]
Homeowners across the country have seen their homeowners insurance premium rise by an average of 4 percent which translates into an average annual premium of $1,398 according to the Insurance Information Institute (III). Much of the increase can be attributed to the rising cost of materials as well as supply chain issues and climate change. […]
It now appears that Covid will still be with us in 2022, and that can have a major impact on a variety of life issues. One of those issues may be homeowners insurance as Covid continues to impact the supply chain and inflation pushes up the cost of just about everything. Keep reading to see […]
The N.C. Department of Insurance recently resolved a legal dispute with the North Carolina Rate Bureau (NCRB). The dispute revolved around the proposed 24.5% homeowners’ insurance rate increase that the N.C. Rate Bureau was requesting. The two agreed on an average rate increase of 7.9%. The agreement was announced by Insurance Commissioner Mike Causey in […]
According to some researchers, mortgages and refinances were the only bright spots during this otherwise bleak period of history we are currently living in. This year has been a little more stable than usual. Recent Freddie Mac updates show 30-year fixed-rate loan rates dropped to 3.05 percent ending the week of 12/23/2021, marking the most significant rate […]