Tag: property insurance

Homeowners insurance reform bill for Citizens once again delayed

H. Cutner
Florida homeowners insurance, Citizens Property

The overhaul for the state backed insurer is being held back yet again in Florida. On Wednesday, a vote that had been scheduled for a sizeable overhaul of homeowners insurance in Florida was delayed, yet again, which may suggest that the fear of sending rates skyward is holding the bill down in the state Senate. It is not that the bill is without the necessary support, but the sponsor is seeking additional time. The sponsor of the bill is Senator David Simmons (R-Altamonte Springs). He indicated that he has already…

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Landlord insurance recommended to help protect investments in the UK

G. Turner
Landlord Insurance

Property owners who are renting out have been advised to make sure they have coverage against floods. Experts in the landlord insurance sector of the industry are reminding the owners of rented properties in the United Kingdom about the importance of protecting their investment, particularly against perils such as flooding, which have become an increasing problem over the last few years. They are reminding these owners that a policy could make the difference between the life and death of their investments. Flooding is already becoming a growing issue in the…

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Homeowners insurance regulations bill altered by a Senate committee

Homeowners Insurance

The changes were made following Waldo Canyon fire victim testimony by the members. A Colorado Senate committee heard the testimony of victims of the Waldo Canyon wildfires two weeks ago and has now made a few small changes to some of the homeowners insurance industry regulations proposal. The committee took the time to take the concerns of the witnesses under consideration before continuing. According to Senator Jeanne Nicholson (D-Black Hawk), “We wanted to take some time to consider some of the concerns that were raised by some of the witnesses…

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Homeowners insurance premiums expected to skyrocket in some U.K. regions

G. Turner
High-Valued Homeowners Insurance news

The price of coverage is expected to soar in areas where floods are known to occur. Properties that are located in areas that are at risk of flooding in Scotland could soon be facing a considerable increase in the cost of their homeowners insurance now that a deal that had been in place to guarantee affordable protection is nearing its expiration date. Homes impacted by the winter floods, recently, or that are located in areas of increased risk are being cautioned. The next time that homeowners insurance policies are renewed…

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Homeowners insurance rates in Florida may spike under new bill

Homeowners Insurance

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…

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