Live Insurance News

Lemonade insurance company heads into California with new license

May 12, 2017May 10, 2017 Logan B.

The tech-based insurer launched in New York and sells renters and homeowners insurance policies. The new Lemonade insurance company that made a splash in New York when it launched in the second half of 2016 is now stepping into California. This new tech-based insurance startup promises consumers an application process as short as 90 seconds. Moreover, the Lemonade insurance claims payment process can be as quick as 3 minutes, according to the company. The insurer received the necessary approval from the California Department of Insurance for the sale of homeowners…

$300k renters insurance settlement proves you shouldn’t blowtorch a squirrel

January 27, 2017May 4, 2018 Marc

A woman tried to clean the fur off a dead squirrel with a propane torch and burned down the building. A recent renters insurance settlement case serves as an important caution to anyone who would be inclined to use a blowtorch on a squirrel. A Michigan woman learned this the hard way after she and her boyfriend burned down her apartment complex. The couple had been at the woman’s home when they decided to try to remove a dead squirrel’s fur. The woman’s boyfriend was using the blowtorch to take…

State Farm Insurance rate reductions are inadequate, billions in fines may follow

January 23, 2017January 20, 2017 Julie Campbell

California State Farm Insurance Rate Notice of Noncompliance

The California Department of Insurance has issued a notice of noncompliance to the insurer. California Insurance Commissioner Dave Jones ordered a State Farm insurance rate reduction in December 2016. The Department of Insurance has now issued a noncompliance notice to the insurer for failing to reduce premiums as mandated. The insurance company was ordered to reduce renters and homeowners insurance rates by an average of 7 percent. This State Farm insurance rate decrease would save consumers $84 million over the span of a year. Moreover, the insurance company was also…

Student insurance policy tips for parents

August 16, 2016August 12, 2016 H. Cutner

Back to school supplies student insurance policy

It’s back to school shopping time again and pupils are being reminded not to forget the right coverage. As college students head to the back to school sales to make sure they have the right supplies and tech, parents are looking at student insurance policy tips. These are very important as the top crime on American college campuses is theft. Due to the presence of large amounts of technology, burglaries and thefts involve much higher values. At one time, burglaries meant there was a risk to a walkman or possibly…

Tiny home insurance encourages some renters to buy

July 27, 2016July 25, 2016 H. Cutner

In the debate between renting and becoming a homeowner, the cost of premiums can be a deciding factor. Tiny home insurance is a type of coverage that is growing in popularity. As the cost of land and housing rises in many places, many people have looked to downsize. This trend has only accelerated with the growing popularity of minimalist lifestyles. A tiny house is a term that usually refers to a home that is around 400 to 500 square feet or less. Over the last decade, these very small structures…