When it comes time to purchase a house, most likely the biggest expense you will consider is the down payment. While your down payment will be a huge expense, there are other costs that must be considered when purchasing a home. Closing costs, which include the fees and taxes that must be paid to finalize […]
Homeowner insurance rates have been climbing for more than five years, increasing a shocking 19.1 percent since 2018 according to ValuePenguin. This trend will continue in 2023. According to the latest ValuePenguin study, between Jan. 1 and March 17, 2023, homeowner insurance premiums have increased 2.8% across the country. “In 2023, the rising cost of […]
In most cases, when your homeowners insurance policy nears its end date, your insurer will send you a renewal notice to continue your coverage. However, in some situations, you could receive a nonrenewal notice which means your insurance company is no longer interested in having you as a customer. If your insurer chooses not to […]
According to research from The Ascent, in 2019, homeowners spent an average of $26,418 per year in housing costs, while renters forked up $17,809 a year. Homeowners must spend an additional $8,609 a year according to the data. Homeowners typically have expenses that renter’s don’t have to cover at all or are less expensive for […]
Homeowners insurance can be a financial lifesaver if your home is damaged or destroyed by a covered peril. However, once you make a claim on your policy, there is a good chance that your premium will be headed up. It is always a good idea to understand what happens after you file a claim and […]
In another twist to the insurance nightmare in Florida, it is possible that Florida homeowners will be facing another insurance increase. Recently, the Florida Insurance Guaranty Association (FIGA) issued an emergency assessment fee of 1%, which will result in some homeowners facing an increase starting October 1. The new increase was requested by FIGA and […]
According to a new report by online marketplace Insurify, average homeowner insurance premiums are headed up again in 2023. The report predicts that the average cost of homeowners insurance could jump up 9% which translates into about $150 increase for most homeowners. The pain will not be distributed equally, homeowners in some states will see […]
Insuring a home is an essential step for any homeowner, but the cost of insurance can vary significantly depending on several factors. One of the most important factors is the value or replacement cost coverage of the property being insured. In this article, we will discuss what it costs to insure a $400,000 house, the […]
The recent severe weather that hit Florida should be a reminder that the Sunshine State is moving into storm season. This means it’s time to prepare your home and batten down the hatches to help prevent damage from Spring storms. Experts from AAA recently offered tips on how to prepare for severe weather as well […]
The quick answer to the question “is foundation damage covered by your homeowners insurance” is yes. In most cases any damage to your foundation would be covered unless it is specifically excluded in the policy wording. It should be noted that damage from flooding or earthquakes is almost always excluded from a standard homeowner’s insurance […]