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Homeowners insurance rates in Florida may spike under new bill

April 12, 2013April 30, 2013

Property owners could find themselves paying a great deal more should SB1770 pass. If a new Senate Bill (SB 1770) is able to pass the Florida Legislature, property owners purchasing homeowners insurance coverage through Citizens could be facing steep rates. The complex bill made its way relatively smoothly through the Senate of the state. Throughout that time, lawmakers have been hearing considerable figures regarding the costs that would be faced within the state if a large hurricane should strike. These figures included $100 billion in possible damages, over $9 billion…

This week in Insurance News Headlines

April 11, 2013 S.Vagus

Live Insurance News Video – This week in the headlines… Stories we covered in today’s headlines along with notes and highlights… Title: Consumer satisfaction in homeowners insurance sector continues to climb Insurance agents will be happy to hear that the latest report in from J.D. Powers makes note of consumers satisfaction is higher than ever when a claim is reported to the agent first opposed to them being redirected to the insurance company. The study shows that consumer satisfaction is climbing despite the problems that recent natural disasters have…

Homeowners insurance bill would change the rates in North Carolina

April 10, 2013April 30, 2013

Legislators from coastal communities are hoping to make the rate system different and more transparent. Lawmakers that are representing coastal North Carolina counties where residents are feeling high frustrations about the skyrocketing cost of homeowners insurance, have now introduced a number of bills that would change the way that the state regulates the rates that are charged as well as to add transparency to the system as a whole. One of the two primary measures has already been receiving bipartisan support as there are sponsors from both parties. Both Republicans…

Flood insurance wrongly applied to many homeowners in Oregon

April 9, 2013April 30, 2013

Lenders and FEMA have been charging many property owners who shouldn’t have had to pay. Every year, hundreds of homeowners in Oregon are wrongly informed that they must pay for expensive flood insurance coverage after having mistakenly fallen into an element of the states system that its coordinator feels is lacking in oversight and is in need of repairs. The coordinator of the NFIP in the state said that this has become a problem and changes are needed. The National Flood Insurance Program (NFIP) in the state is, according to…

Consumer satisfaction in homeowners insurance sector continues to climb

April 8, 2013April 7, 2013 Dan

Report highlights satisfaction among homeowners insurance customers J.D. Power and Associates has released a new study concerning consumer satisfaction in the homeowners insurance market. The study, entitled “J.D. Power and Associates 2013 Property Claims Satisfaction Study,” claims that homeowners insurance customers are more satisfied with their claims when dealing with insurance agents rather than their insurance providers directly. The study also indicates that general satisfaction with the way insurers handle claims continues to rise despite two years of heavy losses due to natural disasters. Satisfaction is off to a good…