Live Insurance News

One in 10 US homes aren’t covered by property insurance

November 21, 2023November 20, 2023 H. Cutner

Though most homes have coverage, there are still many that remain entirely uninsured. The majority of US homes are covered by property insurance, but there has been a trend causing homeowners to drop their coverage, placing themselves at substantial financial risk. The Insurance Information Institute reports that as of 2023, 88 percent of homes in the US are covered. That said, this figure means that 12 percent of US homes are not protected by property insurance. Moreover, that number has more than doubled since 2014, when it was only 5…

California market loses yet another homeowners insurance company

November 20, 2023November 19, 2023 Marc

The state has been struggling with a rapidly shrinking market due to considerable challenges. California is losing yet another homeowners insurance company from its market as a company owned by the second largest home insurer in the state announces that it will be ceasing operation in the state. This will leave tens of thousands of property owners looking to find new coverage. Farmers Direct Property and Casualty Insurance Company, an insurer owned by the second largest homeowners insurance provider in California’s property market, has surrendered the Certificate of Authority it…

Beginner Basics: 7 Things New Homeowners Need to Know About Home Insurance

November 9, 2023 Guest Author

Most new homeowners know that purchasing a house insurance policy is a sensible decision. Those small monthly payments you barely notice coming out of your bank account can save you from financial ruin in the event of catastrophic property damage. However, some people purchase home insurance policies without doing their homework. Alongside reading the fine print provided by your insurance company, it can be worth familiarizing yourself with the following details: No Doesn’t Always Mean No Insurance providers are there to help homeowners protect their investments. Unfortunately, that doesn’t mean…

Property owners are increasingly purchasing minimum homeowners insurance policies

November 7, 2023November 6, 2023 H. Cutner

Homeowners insurance - How much house can I afford

Consumers are increasingly choosing to buy the smallest possible amount of coverage. When the vast majority of people purchase homes, they do so with a mortgage that requires them to carry a certain minimum amount of homeowners insurance coverage. That said, to an increasing degree, consumers are deciding to buy no more than the minimum allowable amount of coverage. Property buyers are facing a rapidly growing total of costs, leaving little room for extras. While homeowners insurance is required – and will provide exceptionally important coverage in the case of…

Florida home insurance crisis is cutting into real estate market

November 2, 2023November 1, 2023 Marc

Property buyers are stepping back from otherwise affordable homes due to high coverage costs. Home insurance agents aren’t the only professionals feeling for their clients as rates continue to rise to crisis levels in Florida. Real estate agents are also finding that their customers are frustrated with the additional expense of a prospective new house when they see what their premiums would be. Floridians looking to buy their dream houses aren’t just stressed about the price of the property. Property prices are already climbing fast, but even among those who…