How Climate Impacts Your Property Insurance Costs

climate change and property insurance costs

There are plenty of factors that can impact your property insurance costs, from your location and the size of the home to the contents, but one thing that homeowners may not be prepared for is how climate is now affecting their premiums. A recent report released shows Canada is warming up at twice the rate of the rest of the world; this has left insurance providers feeling uneasy. That uneasiness is most likely going to translate to a rise in premium rates. So how exactly does climate impact your property…

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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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Florida homeowners insurance expensive despite decade without a hurricane

Florida Homeowners Insurance

The season for these major storms has now come to a close but rates still aren’t dropping. The official close to the hurricane season was on Monday, but even though there hasn’t been one that has struck Florida in ten years, homeowners insurance rates remain high and many are wondering why they aren’t falling due to the improvements in natural disaster damage. Insurance companies have stated that the reason doesn’t have to do with storm frequency as much as building cost. The price of building materials has been rising very…

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Homeowners insurance costs will soon rise to pay for rough winter

homeowners insurance information institute winter snow ice

After a particularly damaging season, the cost of ice dams and water damage is about to affect premiums. In Massachusetts, homeowners insurance customers are about to start paying an average of 9 percent more in their premiums due to the impact of the damaging winter that was experienced throughout the state. The massive amount of snow and the exceptionally cold temperatures caused an abnormally large amount of damage. The extreme weather and large number of winter storms caused a notable rise in the number of homeowners insurance claims as well…

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Texas homeowners insurance companies increase rates

Texas homeowners Insurance

The state is already the third most expensive in the country and now the prices of coverage are headed up again. Three Texas homeowners insurance companies have announced that they will be increasing the premiums that they charge for providing coverage for the properties of the residents of the state. These new and higher rates are going to be going into effect for new and renewal policies. The affected Texas homeowners insurance customers are those who have their policies with Allstate, Farmers, and State Farm. These three home insurers each…

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Homeowners insurance rates likely to spike in Alberta

homeowners insurance rates

Alberta floods cause spike in insurance rates Homeowners in Alberta, Canada, are preparing to see higher insurance rates as insurers begin to feel the financial impact caused by recent floods. The Insurance Bureau of Canada notes that insurers have been weighing the impact of floods that struck Alberta in June of this year and many have found the need to raise rates in order to mitigate the financial blow of the disaster. Those that had fallen victim to flooding will likely see their homeowners insurance rates spike in the coming…

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Property insurance rates experience “modest” increase in US

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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