Beginning in June some residents of Mississippi could see their homeowners insurance rates go up. The state Insurance Commissioner has been in negotiations with Allstate Insurance Company for almost a year and a half, before the two reached an agreement. In 2006 Allstate was given the ok to raise rates in Mississippi by 29 percent, with three of the counties considered coastal being raised by 90 percent. In 2008 they petitioned for another rate increase and were given approval for a 14 percent statewide average increase. When Allstate filed for…
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Got Insurance? Many are not insured when they think they are
Summer is almost here. This means it’s time for consumers to re-evaluate their insurance coverage. Too often people believe they are covered for anything, just because they have insurance. This is why it’s not only important to know what kind of insurance you have; but to understand what it covers as well. In the recent economy people have noticed their homes have lost property value; some homeowner’s think they can lower their coverage and save some money. It’s important to understand that a lower property or market value doesn’t affect…
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