Allstate, GEICO, and Allianz enjoy prospering worldwide renters insurance market

Renters Insurance Market - money - prosperity

The results of a new study have shown that insurers are enjoying a thriving sector. According to the outcomes published in a new renters insurance market report, the sector is thriving worldwide. Insurance companies such as GEICO, Allstate, Esurnce, Allianz, and Shelter Insurance & Mercury Insurance are all prospering according to the “Southeast Asia Renters Insurance –Market Development Scenario.” The study examined the strong successes these players are enjoying in this particular market. The report looked at the renters insurance marketplace using both qualitative and quantitative market data. It also…

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California to overhaul comprehensive home insurance following widespread wildfires

Comprehensive home insurance - house on fire

Homeowners who lost their coverage due to fire threats will have access to plans next year. Californian homeowners who have been struggling with the loss of coverage due to wildfire threat will soon have comprehensive home insurance available to them once again. A new state-mandated plan has been created to make sure residents can obtain coverage. California Insurance Commissioner Ricardo Lara issued an order for this new comprehensive home insurance plan last Thursday. It was a response to the catastrophic wildfires that have left devastation in their wake in the…

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Natural disaster damage sends homeowners insurance rates skyward

Natural Disaster Damage - Tornado destruction

Insured losses resulting from claims relating to Mother Nature have been climbing sharply. Natural disaster damage has been sending homeowners insurance claims upward and, as a result, it has meant that rates for policies have been rising, too. A new analysis showed that severe storms and other catastrophes are becoming more common. Over the last ten years, natural disaster damage has become more commonplace and more expensive for homeowners and insurers. According to a new analysis, this is causing home insurance rates to head sky high. The analysis was done…

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Hurricane Dorian gives Americans a wake-up call they should not ignore, says Allstate

Hurricane Dorian - Storm heading toward Florida

The insurer’s data shows that almost 60 percent of U.S. residents aren’t prepared for a natural disaster. Well over half of all Americans would have been completely unprepared for an event like Hurricane Dorian, said a recent report released by Allstate Insurance. Nearly 60 percent of Americans are assuming that natural disasters won’t affect them. Allstate Insurance used Hurricane Dorian as an example of the type of natural disaster that can threaten Americans. Its report showed that while 70 percent of Americans say that they are concerned over catastrophic events…

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5 Reasons to Get Personal Property Insurance

personal property insurance for renters

You must already know about home insurance which protects your home against various threats like fire, burglary, water damage, etc. However, did you know that most insurance plans contain personal property coverage too? What’s Personal Property Coverage? Personal property coverage aka contents coverage insures your belongings including furniture, home appliances, jewellery, etc. It may also cover items that are outside your home such as your luggage when traveling, bike, etc. If any of these things are damaged/destroyed by natural disasters like fire, or stolen, then you may get adequate compensation…

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Solar panel insurance keeps your green energy investment covered

Solar Panel Insurance - solar panels on house roof

Many homeowners don’t realize that they need to add coverage to their eco-friendly additions. Across the country, homeowners and businesses alike are making efforts to shrink their carbon footprint but many forget to add solar panel insurance to cover their substantial investments. Getting coverage for your green energy additions is typically quite easy to do. The average rooftop solar panel system will usually cost somewhere between $15,000 and $25,000, according to data from the Center for Sustainable Energy. This represents a considerable investment and will raise the replacement cost of…

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Is your home protected on July 4 in case of firework damage?

Firework damage - Fourth of July Celebration

A gorgeous pyrotechnic display is a fantastic way to polish off a red, white, and blue themed party. Families and friends across the country are preparing to celebrate the fourth of July and should understand their coverage against firework damage to ensure that if something goes awry it won’t lead to financial ruin. The National Fire Protection Agency says this is the biggest day of the year for home fires. Firework damage is a serious risk. Though additional precautions can help to prevent disaster, it’s still important to understand your…

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