How Climate Impacts Your Property Insurance Costs

climate change and property insurance costs

There are plenty of factors that can impact your property insurance costs, from your location and the size of the home to the contents, but one thing that homeowners may not be prepared for is how climate is now affecting their premiums. A recent report released shows Canada is warming up at twice the rate of the rest of the world; this has left insurance providers feeling uneasy. That uneasiness is most likely going to translate to a rise in premium rates. So how exactly does climate impact your property…

Read More

Homeowners insurance trends show claims and losses are falling

homeowners insurance rates increase

A LexisNexis report has found that home carriers are riding a positive wave at the moment. LexisNexis has released a report saying that homeowners insurance trends are good for providers right now. The claims are decreasing while the loss costs have been either falling or remaining flat. This U.S. insight was published in the 2016 LexisNexis Home Trends Report. The homeowners insurance trends report took into account that there was only one major hurricane this year in the United States. Moreover there was a decline of 30 percent from 2010…

Read More

Most common and costly homeowners insurance claims

homeowners insurance rates increase

A recent analysis conducted by The Travelers Companies has revealed some significant trends. According to the results of a homeowners insurance claims data analysis conducted by The Travelers Companies Inc., weather incidents were the cause behind more than half of all the filings that were made by policyholders. Among the events that were most commonly at fault were wind, frozen bursting pipes and leaky roofs. Despite the fact that the most common homeowners insurance claims were those caused by weather damage, it was the fire damage claims that were the…

Read More

Insurance claims in Tennessee rise following recent storms

storm weather power insurance claims

The state has been experiencing some fierce weather in certain areas, leading to thousands of dollars in damage. This summer has been quite the stormy one, so far, in parts of Tennessee, and along with that weather has come thousands of dollars in property damage which has, in turn, led to a spike in insurance claims. The state is now issuing recommendations for filing those claims, to help consumers and prevent fraud. As the state anticipates that a large number of consumers will be filing insurance claims with their providers…

Read More

New Jersey homeowners insurance legislation results from report outcomes

Homeowners insurance New Jersey

A lawmaker in the state has now introduced a bill to stop premiums from skyrocketing after one claim. A recent homeowners insurance study brought to light a certain issue with regards to the significant raising of premiums for New Jersey customers after they had made one claim on their policies. The report showed that this issue was present across the country, but New Jersey took this to heart. The results were reflected in an insuranceQuotes.com data analysis that determined that after one homeowners insurance claim had been made in 2014,…

Read More

Insurance news shows that while burglaries are dropping, claims are rising

Burglar Alarm Discount homeowners insurance news

A recent report from an insurer has shown that break ins aren’t as common but they are more expensive. Over recent years, insurance news has been reporting that victims of burglaries are increasingly discovering that their homeowners policies are falling short of the amount that would be required to replace some of their valuable possessions, as thieves have started to focus on small and expensive items that are easy to sell instead of large and bulky items such as big screen TVs. While people focus on making sure that their…

Read More

Homeowners insurance company warns of Friday robbery spikes

Burglar Alarm Discount homeowners insurance news

According to a data analysis conducted by Aviva Canada, home burglaries dramatically rise in summer months, too. While the majority of us may look forward to Fridays because it means that we’re headed toward a weekend of fun and relaxation, a homeowners insurance company is now warning property owners to take extra precautions on that day as it is also a favorite time for burglaries. A large national home insurer has conducted a data analysis and showed that certain times are far worse than others. Aviva Canada’s data analysis showed…

Read More