While many state legislators, industry leaders and insurance regulators have been claiming that the insurance market in Florida has stabilized, it looks like premiums may be headed up again in the near future. According to an analysis by the South Florida Sun Sentinel, the average statewide premium, being paid for an all-perils single-family home policy […]
Homeowners in Texas are feeling the squeeze as homeowner insurance rates continue to climb. In a recent NBC 5 Investigates article, they looked at just how dramatic recent rate increases have been across Texas. Melinda Clifton has seen destructive weather cause hail damage to her roof three times in the last twenty years according to […]
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]
Recently, the North Carolina Rate Bureau requested that the N.C. Department of Insurance allow increases to homeowners’ insurance rates by an average of 42.2 percent. If the NCDOI agrees, the proposed rates will go into effect Aug. 1. However, it is also possible that the NCDOI will not agree to the increase and deny the […]
Many homeowners have been notified lately that their homeowners insurance premium is going to be headed up. According to the Insurance Information Institute, higher insurance costs can be blamed on a variety of factors which include more expensive building materials, supply chain issues as well as continuing labor shortages. Factors that increase home insurance costs […]
Homeowner insurance premiums are dramatically heading up this year, particularly in states that are prone to natural disasters. According to a new report from Policygenius, the average homeowner policy went up 21% nationally which is on top of a 12% increase that homeowners endured last year. As usual, Florida is at the top of the […]
As the cost of homeowners insurance continues to head up, it is more important than ever to look for ways to keep your premium affordable. According to Money Magazine, the average home insurance premium is expected to climb to $1,784 in 2023 which is a shocking 9% increase from 2022. We thought it might be […]
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 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 […]