Homeowners insurance premiums in Minnesota need only one claim to spike

Minnesota homeowners insurance

The cost of the coverage within the state will jump after even a single claim has been made. According to the results of a recent study, filing just one claim is enough to cause the premiums for a homeowners insurance policy to skyrocket in the state of Minnesota, which was the highest rate of increase in the country following one claim. In fact, the research showed that after a claim, the average increase in premiums was 21.2 percent. That figure is according to a homeowners insurance report that was issued…

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Homeowners insurance customers in Oklahoma still paying high rates

Oklahoma Homeowners Insurance

Residents of the state are still seeing costs that are among the highest in the United States. Property owners in Oklahoma are already paying some of the highest homeowners insurance rates in the country due to the state’s high risk of severe weather such as tornadoes, hail, and other damaging forces of nature. Now, insurers in the state are seeking to increase their rates by as much as 40 percent. Despite the fact that the residents of the state are already paying more than those of most other states across…

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Homeowners insurance rates in Florida may spike under new bill

Homeowners Insurance

Property owners could find themselves paying a great deal more should SB1770 pass. If a new Senate Bill (SB 1770) is able to pass the Florida Legislature, property owners purchasing homeowners insurance coverage through Citizens could be facing steep rates. The complex bill made its way relatively smoothly through the Senate of the state. Throughout that time, lawmakers have been hearing considerable figures regarding the costs that would be faced within the state if a large hurricane should strike. These figures included $100 billion in possible damages, over $9 billion…

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Homeowners insurance on its way up for Colorado residents

Colorado homeowners insurance industry wildfires

After many had been told that the fires wouldn’t have much impact on rates, increases are still here. Many long time residents of Colorado are now facing the largest homeowners insurance premiums increase they’ve ever seen, as the impact of years of catastrophes, barely including the wildfires, on their rates is now being revealed. Unfortunately, this is only the start of what is likely to be a larger wave of increases. Though the very first of the homeowners insurance customers to see the increases have already done so on their…

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