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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Thanksgiving safety tips to help you prevent an insurance claim

Thanksgiving safety tips - Dining Room

A few common sense changes can be all it takes to make sure your family and celebration is joyous. This year, one of the things you may be giving thanks for is the right set of Thanksgiving safety tips to keep your family and home protected. By following a few little common sense rules, you can prevent danger, damage and the need to file an insurance claim. During the holidays, the kitchen is the heart of your home, so keep it safe and healthy this year. Thanksgiving safety tips are…

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New Florida hurricane insurance option to be deductible- and inspection-free

Florida hurricane insurance - Hurricane in Florida

Coverage has always been important to homeowners as it is regularly threatened by the storms. A new Florida hurricane insurance option is being launched to make claims more straightforward for property owners. Millions of homeowners in the state are used to the time and expense still required after a claim. Standard Florida hurricane insurance requires a homeowner to have to pay a deductable when a claim is made for storm damage. In many cases, that deductible is high that the customer ends up paying the entire repair cost. For many…

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Sinkhole insurance likely lacking for damaged Fraser homes

sinkhole insurance

Homeowners are likely to receive unwanted news from the bad gift they received on Christmas Eve. Homes damaged on Christmas Eve in suburban Detroit are unlikely to be covered by sinkhole insurance. Experts are saying that while homeowners should still file claims with their insurers, much or all of the damage from the Fraser sinkhole is unlikely to be covered. Standard insurance policies contain exclusions when it comes to perils such as sinkholes. Sinkhole insurance is frequently quite uncommon due to the careful wording of homeowners insurance policies. They contain…

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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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