Most residents of high-risk flood zones don’t have flooding insurance, analysis

High-risk flood zones - Flooding in neighborhood

A recent study has shown that an average of 6 in 10 affected homeowners aren’t covered. Severe weather events don’t plan to take a break just because of the COVID-19 pandemic, but a new analysis shows that 6 in 10 homeowners in high-risk flood zones don’t have insurance against overland water damage. The Atlantic hurricane season starts today, and severe flooding has already started in some areas. Central Michigan, for instance, has already been affected by considerable flooding in many regions. ValuePenguin.com recently published the results of an analysis it…

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Missouri homeowners insurance rates have increased 76 percent in ten years

home improvement loan

Consumers in the state are experiencing some of the fastest increases in the US due to severe weather events. A new analysis of Missouri homeowners insurance rates has shown that consumers in the state are paying an average of 76 percent more this year than they did a decade ago. The severe weather that is striking the state on a more regular basis is to blame for the rate hikes. The Missouri homeowners insurance rate hike is the seventh largest percentage increase in the country. As severe weather events become…

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A homeowners insurance review is important at the start of every spring

Homeowners Insurance Review - Residential

Property coverage should be re-examined annually, and this season presents a good opportunity. Experts in the industry typically recommend that property owners conduct a homeowners insurance review once per year, and the spring is an ideal time to do it. The start of this season allows property owners to ensure they have adequate coverage for the year ahead. With the fresh starts that come with springtime, a homeowners insurance review can help policyholders to ensure that their coverage is still appropriate for their needs. This way, they can know that…

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Landscape insurance covers homeowners with valuable gardens and trees

Landscape insurance - Home and Garden

Some homeowners have adequate coverage with their standard policies but others need more. Summer is here and with it are the season’s severe storms and other potential risks that make homeowners look into landscape insurance. Summer comes with a full range of highly destructive perils that can harm expensive landscaping. Summer storms can be far more severe than spring rains. Hot temperatures can bring wild winds, downpours of rain, lightning strikes and damaging hail. If you have a good homeowners insurance policy, you’ll have the coverage you need to cover…

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Is your home protected on July 4 in case of firework damage?

Firework damage - Fourth of July Celebration

A gorgeous pyrotechnic display is a fantastic way to polish off a red, white, and blue themed party. Families and friends across the country are preparing to celebrate the fourth of July and should understand their coverage against firework damage to ensure that if something goes awry it won’t lead to financial ruin. The National Fire Protection Agency says this is the biggest day of the year for home fires. Firework damage is a serious risk. Though additional precautions can help to prevent disaster, it’s still important to understand your…

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American homeowners insurance rates have skyrocketed in the last 10 years

American homeowners insurance rates - House

A recent study showed that property owners are paying far more now than a decade ago. Natural disasters occurring over the last ten years are being blamed for a surge in American homeowners insurance rates. Tornado alley has experienced the fastest increase in home insurance premiums in the US. A LendingTree subsidiary, QuoteWizard, looked at data over the last 10 years to explain the steady, sharp increase in American homeowners insurance rates. What they determined was that there has been a series of natural disasters that have kept premiums moving…

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Top Christmas homeowners insurance claims identified as a caution to consumers

Christmas homeowners insurance claims - House decorated for christmas

Policyholders are advised to learn from the mistakes of others so they won’t be repeated. Insurers are releasing their lists of top Christmas homeowners insurance claims from previous years. This is meant to be useful information for policyholders who want to make sure they have a claim-free Christmas this year. The combination of decorations, cooking and drinking can all pose a range of preventable risks. Insurance companies are hopeful that by educating consumers about the risks, it will help them to make better choices and prevent disaster. In this way,…

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