Tag: fire insurance

Fort McMurray insurance losses may be more than $9 billion

Julie Campbell
Fort McMurray insurance losses

The wildfire that continues to devastate the Canadian city is expected to be the most expensive in the country’s history. The Fort McMurray insurance losses resulting from the devastating wildfire that has burned its way through the city in the Canadian province of Alberta is expected to bring about the largest insured property losses the country has ever experienced from a single disaster. In fact, one analyst has estimated that the insured losses could come to a massive total as high as CAD$9.3 billion. The Fort McMurray insurance losses are…

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Most common and costly homeowners insurance claims

Julie Campbell
homeowners insurance rates increase

A recent analysis conducted by The Travelers Companies has revealed some significant trends. According to the results of a homeowners insurance claims data analysis conducted by The Travelers Companies Inc., weather incidents were the cause behind more than half of all the filings that were made by policyholders. Among the events that were most commonly at fault were wind, frozen bursting pipes and leaky roofs. Despite the fact that the most common homeowners insurance claims were those caused by weather damage, it was the fire damage claims that were the…

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Fire insurance losses in California broke the $1 billion mark

Julie Campbell
fire insurance home

The payouts for claims for damage caused by two tremendous blazes in the northern part of the state were huge. Two massively destructive wildfires in Northern California not only killed six people and caused thousands of residents to have to leave their homes behind, but they were also damaging enough to lead to over $1 billion in losses covered by fire insurance. This represents a preliminary estimate that has now been released by the California insurance department. These two different wildfires began burning in September, only days apart from each…

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Homeowners insurance is running from Californian wildfires

G. Turner
insurance industry fire insurance

As the brush fires and blazes moved ahead, insurers started to step back from providing coverage. Near the start of October, homeowners insurance companies found themselves covering the majority of the almost 5,000 claims that were made as a result of two wildfires that occurred in September in Northern California and agreed both to provide the policyholders with a larger amount of time in which to document their claims and to boost the speed of the payments. That said, following one of the worst wildfire seasons in the state, the…

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New information discovered about fire insurance denials in Indian Hill

G. Turner
widlfire homeowners fire Insurance

Details have now been released about the blaze in Ohio that destroyed a $4 million home. In 2014, a massive fire ripped through a multi-million dollar home in Indian Hill, Ohio, but despite the fact that it was covered by fire insurance, the insurer denied the owner’s claim and refused to pay for the damages. New details with regards to that case have now emerged to shine some light on the situation. The homeowners, Jeffrey and Maria Decker, filed a $60 million lawsuit against the fire insurance company, last January.…

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