Tag: home insurance coverage

Hurricane Ida moratorium on homeowners’ insurance cancellations comes to an end

G. Turner
Homeowners insurance

Insurers can now choose cancellation or non-renewal for coverage in southeast Louisiana. This week, homeowners’ insurance companies can choose to cancel or non-renew coverage for policyholders in southeast Louisiana, after Hurricane Ida protections expired on Sunday. The state insurance regulator chose not to extend the emergency protections put into place before Ida. Louisiana Insurance Commissioner Jim Donelon invoked Emergency Rule 47 on August 26. It stopped homeowners’ insurance companies from being able to cease or interrupt coverage, even in the case of premium non-payment. This protection applied to policyholders living…

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Central Pacific Hurricane Season has started, so it’s policy review time

G. Turner
Central Pacific Hurricane Season - Approaching storm

Insurance companies in Hawaii are reminding homeowners to ensure they’re covered. The Central Pacific Hurricane Season has begun, and Hawaii insurers are reminding homeowners to make sure they have adequate insurance coverage. The state insurance commissioner has also reminded owners and renters to review their policies. Reviewing a policy at least once per year to ensure that coverages and exclusions are appropriate for covering a homeowners property and possessions is highly recommended. Hawaii Insurance Commissioner Colin Hayashida has reminded state residents of the importance of this annual practice, particularly as…

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The top homeowners insurance mistakes policyholders make

H. Cutner
Homeowners insurance mistakes - hand holding house in bubble

This coverage can be complicated, resulting in errors frequently made while filing claims. Homeowners insurance mistakes are more common than many policyholders may think. Unfortunately, when errors are made during the claims process, the result can be quite expensive. Policyholders are advised to review their coverage annually and when large changes occur. Beyond making sure they have the right coverage in place, it’s also important to understand the claims process. This helps to avoid some of the most common and potentially expensive homeowners insurance mistakes. As climate change brings an…

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Wildfire prone property insurance bill in California due for hearing

Marc
Wildfire prone property - home on fire - firefighters

The bill is expected to be heard in upcoming weeks as opposing sites prepare for major battle. A new California bill, the outcomes of which will have a lot to say about coverage for wildfire prone property in the state, will soon be headed for hearing. The hearing is expected to be a heated one as strong opposing opinions have the opportunity to be voiced. Opponents of this bill are calling it a direct attack on consumer protections in insurance. That said, proponents of the bill claim it is the…

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Severe weather damage in the US hits the $4 billion mark

Logan B.
Severe Weather Damage - Flooding

Hailstorms and other disasters have caused quite a bit of destruction already in 2020, says Aon. Severe weather damage from events across the United States have led to substantial costs for insurers. A sizeable portion of the $4 billion estimated economic cost is covered by insurance policies. Much or the severe weather damage caused by storms have involved hail, according to the monthly Global Catastrophe Recap report from Aon. A substantial storm outbreak struck the Plains, Midwest and Southeast on May 4 and 5. This event primarily affected parts of…

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