Tag: property insurance premiums

One in 10 US homes aren’t covered by property insurance

H. Cutner
Property insurance - Large family home

Though most homes have coverage, there are still many that remain entirely uninsured. The majority of US homes are covered by property insurance, but there has been a trend causing homeowners to drop their coverage, placing themselves at substantial financial risk. The Insurance Information Institute reports that as of 2023, 88 percent of homes in the US are covered. That said, this figure means that 12 percent of US homes are not protected by property insurance. Moreover, that number has more than doubled since 2014, when it was only 5…

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Insurance rates are climbing sharply in hurricane-affected US states

Marc
home Insurance rates on the rises in hurricane states

Insurers are leaving or reducing their selling activities in states where severe storms are common. Though Florida has been the state most commonly in the spotlight as its insurance rates skyrocket due to the increasing risk and cost associated with the rising frequency and severity of hurricanes, other states affected by these storms are also experiencing climbing premiums. Climate change has been raising the risk of hurricane damage while inflation drives up repair costs. This means that while property owners continue to face rising expenses for everyday products and services,…

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Property insurance rates experience “modest” increase in US

H. Cutner
Property insurance News commercial P&C insurance

A survey has indicated that American commercial policy rates have increased just slightly. The results of a new survey that was conducted by Towers Watson & Co. has revealed that the price of commercial property insurance in the United States rose slightly during the first quarter of 2012. It also indicated that business employment practices liability and workers compensation rose during that time. The rise that was experienced in the commercial property insurance rates from the last quarter of 2012 to the first quarter of 2013 was – according to…

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Study shows North American property and casualty insurance rates continue to rise

Nordstrom
homeowners insurance

A study performed by the global insurance broker, Willis Group Holdings, has reported that there have continued to be gradual increases to property and casualty insurance rates as a result of the many catastrophes that have already occurred this year. The broker’s 2012 Marketplace Realities report spring update was just released and it will provide guidance for thousands of consumers who are looking to buy or renew their coverage in North America. It will also be an important focus in Philadelphia for the Risk & Insurance Management Society’s Annual Conference…

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