Homeowners insurance industry isn’t impressed with smart homes

homeowners insurance industry, smartphone smart home

Despite the claims device makers have made about improved security, insurers aren’t lowering bills. The smart home device market has led to millions of dollars in sales but has not managed to impress the homeowners insurance industry. Americans have been buying WiFi connected smoke detectors and security cameras in droves. However, home insurance companies aren’t yet convinced that they are worthy of premiums discounts. A traditional smoke detector may bring savings to many homeowners, but more recent gadgets are still unproven. With the average rates across the homeowners insurance industry…

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Homeowners insurance rates greatly impacted by credit score

homeowners insurance rates increase

Many consumers are surprised to find out how great a difference their credit history makes. As recent homeowners insurance rates calculations are revealing, credit is growing in its importance to Americans. Our daily lives are directly impacted by our credit histories, according to the results of a recent study. This includes the amount being paid in premiums for property policies. A recent study showed that people with fair or median credit scores pay an average of 32 percent higher premiums. The research was conducted by Quadrant Information Services. It was…

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Allstate home insurance is getting cheaper in California

allstate homeowners home insurance rates

The insurer and the state commissioner have agreed to reduce the rates for homeowners coverage. Dave Jones, the California Insurance Commissioner, has now come to an agreement with Allstate Insurance Company and Allstate Indemnity Insurance in order to decrease the rates being paid by home insurance customers in the state. In fact, the homeowners insurance rates for California Allstate customers will drop by an average of 12.6 percent. For Californians who have home insurance through Allstate, this decision represents a decrease of an average of $230, each. The reduction in…

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Homeowners insurance from Citizens may be getting pricier (again)

Louisiana homeowners insurance news

Louisiana residents with this coverage may soon be paying more for their coverage later in 2016. Residents of Louisiana who purchase the homeowners insurance of last resort in the state may soon find that their rates are going to be higher than they had been last year, if Citizens gains approval for an increase request that they have submitted. The increases wouldn’t go into effect until later this year, but property owners should prepare themselves. Should the homeowners insurance rate increases be approved, it will be residents of Terrebonne and…

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Homeowners insurance may be getting pricier for those affected by Storm Desmond

UK Flood homeowners Insurance companies Flood Re Plan

Residents of parts of the U.K. that suffered from flooding may soon be seeing higher premiums, too. People living in the parts of Cumbria in the United Kingdom, which have been stricken by flooding following Storm Desmond may soon have further unwanted news as it is expected that homeowners insurance rates will likely rise in that area as a result of the losses that were recorded. As of yet, it is too early to predict exactly how much the storm will be costing the insurance industry. In the U.K., an…

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