Insurance companies facing rising water damage claims

Water Damage Claims - Houses in flood waters

A new report shows that leaks are becoming increasingly problematic for homeowners and insurers. A new Verisk Analytics report from its ISO unit has found that insurance companies are taking an increasing number of water damage claims. At the same time, other forms of claim have been falling in frequency. The report determined that one in 50 homeowners insurance policyholders file a leak claim each year. Water damage claims affect one in every 50 homeowners insurance policyholders every year, according to the research. The study involved data from 2013 through…

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Insurance customers can enjoy the benefits of Tidying Up With Marie Kondo

Benefits of Tidying Up - Toy Storage

The popular Netflix series is reducing clutter levels but also underscores an often overlooked coverage step. While most people love the de-cluttering benefits of Tidying Up With Marie Kondo, the insurance industry sees this as a fantastic opportunity for policyholders to take a very important but frequently overlooked step to gain the best coverage. Nearly all renters and homeowners insurance customers miss this vital step to ensuring top coverage. The Netflix series, Tidying Up with Marie Kondo has become explosively popular. This is particularly true as people use the benefits…

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Use this January home safety checklist to prevent damage and insurance claims

Home Safety Checklist - Home Repair

Start your year on the right foot by keeping your home and family safe and claim-free. This year, let a home safety checklist give you the right start for keeping up with your New Year’s resolution to be better to yourself. Taking the right simple steps can prevent a range of expensive and dangerous problems. You can keep yourself, your family, and your home safe from the need for a homeowners insurance claim. This January, check of each of these winter home safety steps to give you peace of mind.…

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Boston area snow-related insurance claims continue to rise

Boston snow storm insurance news

There have already been a large number of filings, but more are expected as a result of ice dams. This winter hasn’t been an easy on for people living in Boston and the surrounding area, and insurance claims have been piling up as a result of damage from snow and collisions on slippery and narrowed roads. Everything from leaky roofs to car accidents that resulted from the weather have been keeping insurers busy. The insurance claims are only expected to rise as the weather-related damages are predicted to worsen over…

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Allstate eyes return to homeowners insurance business

Homeowners Insurance

Allstate beginning to make changes to business plan Allstate, one of the largest insurance companies in the U.S., is looking to get back into the homeowners insurance business. CEO Tom Wilson has announced that the company is working to improve customer loyalty after consolidating several independent agencies, acquiring smaller insurance providers, and a rate increase spree. Part of this effort is to begin expanding its flagging homeowners insurance business, which has shrunk by more than 1 million policies over the last four years. Homeowners insurance business may yield high returns…

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