As financial losses mount for insurance companies in Florida, many insurers are ordering more home inspections at both the beginning of a policy as well as at renewal time. Insurers are hoping to force homeowners to fix problems that may turn into a claim or to justify dumping homeowners whose property they consider risky. This […]
Florida gains about 300,000 new residents every year and 2020 has been no exception, despite the challenges of the pandemic. Unfortunately, many of those new residents, as well as longtime residents of the Sunshine State will be looking at major homeowner insurance rate increases in the coming years. Florida is on the verge of large […]
According to national insurance expert and actuary, J. Robert Hunter, a package of homeowner insurance bills that California lawmakers are considering could lead to premium hikes of at least 40 percent across the state. It will also increase the number of California homeowners who are struggling to find coverage for their homes. AB 2167 (Daly-Anaheim), […]
Beautiful sunset view of Front Street in Beaufort, the third-oldest town in North Carolina, located in Carteret County North Carolina residents could be some of the first in the country to have a state backed private flood insurance policy as an alternative to the Federal Emergency Management Agency’s National Flood Insurance Program. Insurance Commissioner Mike […]
A beautiful view of the Islamorada coastline. Also known by Florida homeowners as the highest homeowners insurance rates in the country. According to a recent Insurance.com rate analysis, the highest homeowner insurance rates in the country are in zip code 33070 which encompasses Islamorada Village of Islands, on Plantation Key in Florida. Second place in this dubious honor […]
Homeowners in Florida may be in for a price increase in 2020, despite the fact that lawmakers passed an assignment of benefits reform bill las year. Insurers are requesting major price increases this year, it looks like the prediction of higher insurance rates after Hurricane Irma is finally here. Executives from National Specialty Insurance Co., […]
According to a recent editorial on Yoursun.com, the legislation passed last year to bring assignment of benefits (AOB) lawsuits to end has not succeeded in bringing down homeowner insurance costs for Florida residents. In 2019, zero hurricanes came ashore. In fact, only Hurricane Dorian (which was a category 5) threatened the Sunshine State but ended […]
Overlooking Banks Channel in Wrightsville Beach, North Carolina If you are lucky enough to own a house on the coast in North Carolina, but don’t live in it full time, there is a very good chance that you will be paying more for wind insurance starting July 1st. The N.C. Rate Bureau, an industry group […]
Climate change has increased the number of natural disasters in the last decade and that is impacting homeowners insurance rates according to a new report by QuoteWizard. Data from the Insurance Information Institute shows that there were 850 natural catastrophes across the world in 2018, which is a big jump from the 740 in 2017. In […]
Homeowner insurance rates for many Florida homeowners will continue to rise next year, despite the fact that reforms were put in place last spring to help curtail Assignment of Benefits (AOB) lawsuits brought by contractors and their attorney partners. Unfortunately, instead of heading down, the number of lawsuits filed against insurance companies has actually increased […]