Iowa home insurance appraisal bill’s future unclear following tornadoes

Iowa home insurance - Tornado

It’s no longer clear whether the bill will advance but critics say it will make claims tougher. It isn’t obvious whether lawmakers will advance an Iowa home insurance bill that would make it tougher for policyholders to make claims for damage related to natural disasters such as the tornadoes that cut their way through parts of the state last weekend. The bill’s design would restrict the appraisal process applied to disputed claims. The restrictions to the Iowa home insurance appraisal process used for disputed claims. If the bill passes it…

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Hail storms in Iowa and Nebraska test homeowners insurance providers

hail damage car auto

Natural disasters cause significant damage in both Iowa and Nebraska Insurance companies in Iowa and Nebraska are beginning to field claims in the wake of major hailstorms that occurred in both states. The storms caused major damage to vehicles and property in Iowa and Nebraska, generating thousands of claims that has caused large insurance companies like State Farm to make “staffing adjustments.” The number of claims that insurance companies have received has not yet been revealed. The actual cost of the natural disasters in both states is still being assessed.…

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Finding the best homeowners’ insurance rates for 2012 coverage

Following a year of record breaking disasters, many homeowners are wondering how they can find lower and more affordable rates for their insurance policies. Even those with experience in shopping around for the best price for a policy are discovering that the process is becoming much more complex. Many insurance companies have now implemented a number of different types of exemptions for various forms of damage from storms and other natural events. Some are also assigning lower values to a home’s replacement cost. According to the Consumer Federation of America’s…

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Nationwide average for homeowners’ insurance premiums increased in all but two states

According to the most recent RateReport, which shows the average premiums across all of the states in the country over a 12 month period (as of September), all but two states experienced an increase in homeowners’ insurance premiums. The two states that saw a decrease in premiums were Washington D.C. and Vermont. All of the other states in the country saw their average homeowners’ premiums increase from 0.1 percent to 5.8 percent more than what policyholders had been paying during the year beforehand. The average premiums that were used…

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U.S. nationwide survey shows homeowners more concerned about housing market value than natural disasters

An American survey of homeowners across the country which was completed in October 2011 showed that 58 percent of respondents feel that the largest threat to homeownership is the housing market value. This figure was larger than the combined risk perceived about the impact of hurricane (8 percent), tornado (9 percent) and fire (15 percent). When asked whether they felt that homeownership is now the American Dream or the American Nightmare, a shocking 48 percent felt that it was a Nightmare, while only 52 percent clung to the belief that…

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