Texas Windstorm Insurance Association at the heart of new controversy

Texas Windstorm Insurance Association

Email about Texas Windstorm Insurance Association sparks turmoil There is turmoil in Texas after an internal email from the state’s Department of Insurance suggests that property insurance rates may be on the rise. According to the email, which comes from Insurance Commissioner Eleanor Kitzman, the agency is weighing its options with the beleaguered Texas Windstorm Insurance Association and may be looking to raise rates on properties along the Gulf Coast to help remedy the organization’s financial troubles. The email has raised concerns amongst consumers, advocacy groups, private insurance companies, and…

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Homeowners insurance worries place significant strain on Floridians

Homeowners Insurance credit score

Residents of the state are more worried about coverage than taxes. The rising cost of homeowners insurance is an increasing political liability among lawmakers in Florida, as the results of a survey have now been released that shows that financial concerns over this coverage are now much greater than those regarding property taxes. The state’s residents have been seeing a tremendous spike in their coverage rates in recent years. The annual survey was performed by Leadership Florida, and its results were just released. They showed that 46 percent of people…

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State Farm Florida drops rates for homeowners

Homeowners Insurance

State Farm Florida announces rate decreases for South Florida homes A lot of insurance news concerning Florida revolves around the rate increases that consumers could be facing in the near future. This week, however, looks to be a time for some good insurance news. State Farm Florida has announced that consumers in heavily populated areas in South Florida can expect to see their insurance rates decrease. The insurer has been granted approval for a rate decrease by state regulators and new rates are expected to take effect within the coming…

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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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Homeowners insurance customers face risks in switching from Citizens

Homeowners Insurance in Florida

Consumers in South Florida are offered policies from private insurers, without the rates. Thousands of residents of South Florida that have their homeowners insurance coverage through Citizens have received a letter stating that unless they opt out, their policies would be taken over in November by a private insurer. Though these customers do see potential in the switch, the situation is making it difficult to make an informed decision. Those with Citizens Insurance – the state backed insurer of last resort in Florida – have heard that the company intends…

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