Homeowners insurance is greatly misunderstood by many UK policyholders

Homeowners Insurance and Storm Damage

These customers face high risks as the harsh winter weather approaches. Now that the potentially damaging winter weather is getting closer, the risk associated with letting homeowners insurance go unpaid has increased significantly, but this hasn’t stopped many United Kingdom customers from doing so. A recent study has shown that sixty percent of policyholders do not understand their storm coverage. This research was conducted by Onepoll in September 2012 and involved the participation of 2000 U.K. homeowners insurance customers. What was determined was that these policyholders had a large number…

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Homeowners insurance may not be providing the added coverage policyholders want

homeowners insurance home warranty

As the summer fades away and winter looms ahead, people are buying added protection for possible emergencies. The coverage from homeowners insurance is vital in the case of a fire, a burst water pipe, or even when a tree falls over into the house, as it provides coverage for all or part of the repair costs, but many policyholders aren’t entirely certain as to what coverage they have. This is risky because not understanding coverage means that the protection may not be adequate. This can also mean that if an…

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Homeowners insurance up 21 percent in Texas

Texas Homeowners Insurance

Data shows premiums have skyrocketed since 2009 for home coverage in the state. Though the premiums for homeowners insurance in Texas have been the most expensive among all of the states for a long time, recent data has revealed that they have climbed 21 percent since 2009. This increase is much faster than the rate hikes seen in most other states. This data came from a report released by the Texas Department of Insurance. This same report identified a number of different factors that have contributed to the increases in…

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Force-placed coverage causes probe of New York insurance companies

A closer look into forced placed insurance practices The state insurance regulator in New York is currently performing an investigation as to whether or not the rates for force-placed insurance that are being charged by companies should be deemed excessive, and is requesting data from insurers such as Assurant Inc. The New York Department of Financial Services released a statement that said that it is trying to obtain basis for “consistently high profits” that are occurring at the investors’ and homeowners’ expense. It is also requiring that insurers such as…

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What to consider when purchasing vacation home insurance

Vacation home insurance Though it’s obvious that when you purchase a home, you will also want to cover it with homeowners’ insurance, many people feel uncertain when it comes to deciding on the coverage required for their vacation homes. Insuring your summer or vacation home or cottage is extremely important, not only for when you are present, but especially because it is empty for a significant amount of the time. By purchasing adequate coverage, you’ll know that your secondary home and possessions will be covered even when you aren’t there.…

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