Homeowners insurance companies impacted by late home buying trend from Millennials

Homeowners insurance - buyers

The change in trends between generations is leading to challenges for coverage providers. The results of new research have found that Millennials and the youngest of the Gen X generation have experienced substantial delays in buying homes, and this trend is affecting homeowners insurance companies. This trend has been made only worse by the trends in out-of-state migration from those same generations. Those trends toward migrations out of state are driven in part by the COVID-19 pandemic. That behavior is posing a risk to homeowners insurance companies. These, among other…

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New California homeowners’ insurance and home hardening bill introduced

California homeowners insurance - person signing paper

The legislation would require mandatory policy issuance and create a residential grant program. A new California homeowners insurance bill was introduced by Assemblymember Marc Levine (D-Marin County) to require mandatory issuance of policies. It would also form a new grant program for residential home hardening for properties in areas with a sizeable wildfire risk. Assembly Bill 1755 would require insurers to provide coverage to customers that have hardened their property. Assembly Bill 1755 would require that California homeowners’ insurance companies must issue a policy to property owners in the state…

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Nevada bill blocks home insurance companies from discriminating against dog breeds

Home insurance - bill to stop discriminating dog breeds

Pet owners will now be able to choose any breed they want without risk of challenges from their insurers. Dog owners will now face fewer challenges from housing and home insurance companies regardless of the breed of pet they have or want to adopt. Certain breeds or sizes of dog are often not accepted in apartments and affordable housing. Dogs such as German Shepherds, Pit Bulls or even any large breed are commonly not acceptable in apartments or affordable housing. There are also many home insurance companies that will refuse…

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Insurance companies want Marshall fire victims in Colorado to contact them now

Insurance companies - Fire in Colorado

The insurers recommend that evacuees call them right away for support with living expenses. Approximately 30,00 people have been evacuated due to the Marshall fire in Boulder County, Colorado, and insurance companies are recommending that they contact them as soon as they can to obtain available support. Around one thousand homes are believed to have been lost as a result of the massive blaze. Though the final tally of affected homes or even of evacuees has yet to be counted, the fast-moving Marshall fire has forced thousands out of their…

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Commissioner Lara doesn’t want easier rate changes for home insurance companies

Home insurance companies - home, money, calculator

The California Insurance Commissioner is siding with consumer activists to halt legislation. California Insurance Commissioner Ricardo Lara is taking the side of consumer activists in an effort to stop a bill that would make it faster and easier for home insurance companies to change their rates. AB 2167 passed the state Assembly on Monday by a vote of 56-3. That said, the bill’s opponents say that this would set the stage for home insurance companies to impose substantial premiums spikes for homeowners in parts of the state hardest hit by…

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Smart Technology and the Home of the Future

Smart Technology and the Home of the Future

The use of smart technology has already been a jump forward in domestic technology. Look back 100 years and there was very little technology in the home, whereas now the average home has technology products which allow them to communicate with people across the world, wash dishes and clothes not by hand, heat up food within minutes, watch video streams and content from millions of sources, and listen to digital music which isn’t owned. However, while these technologies are commonplace, smart technology isn’t yet being adopted by the masses, like…

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Homeowners insurance customers are more satisfied than ever, says J.D. Power

Home Insurance Customers - Home In hands

A new survey showed policyholders are happier than ever before with their home insurers. Satisfaction among homeowners insurance customers is higher than it has ever been before, according to a new J.D. Power survey. The “U.S. Home Insurance Study” results show the highest scores in the survey’s history. The results of the U.S. Home Insurance Study from J.D. Power were the highest ever. On a scale of 1,000 points, the 2018 study recorded an 818, among homeowners insurance customers. This represents an increase of 10 points over the 2017 results.…

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