Live Insurance News

El Niño’s Record-Breaking Rainfall: Implications for Septic Tank Owners

December 20, 2023January 3, 2024 Loreen

El Niño's record-breaking rainfall is a concern for all, it brings unique challenges for septic tank owners

El Niño, a climatic event marked by unusually warm Pacific waters, has been dominating headlines this year due to its potential for record-breaking global weather patterns. Several sources, including Scientific American and UCI News, predict that the 2023 El Niño could usher in unprecedented rainfall across various regions worldwide. Such extreme weather conditions pose distinct challenges for septic tank owners. Heavy rains can over-saturate the ground around drain fields, hindering the effective treatment of wastewater. If the drain field becomes waterlogged, it loses its ability to absorb or evaporate waste,…

Are Home Insulation & Energy Upgrades Covered by Home Insurance?

December 11, 2023 Guest Author

Home insulation and energy upgrades are essential components of a well-maintained home. They not only enhance comfort but also lead to significant energy savings. As a homeowner, it’s important to learn how these home improvements interplay with home insurance. This mutual relationship is often left on the sidelines, yet it’s crucial to comprehensively understanding your home ownership responsibilities and rights. Understanding Home Insurance Coverage Home insurance is a safety net that provides financial protection against damage or loss of your house and the belongings within it. Typically, it covers incidents…

US Senate Budget Committee is taking a closer look at Florida Citizens Insurance

December 7, 2023December 6, 2023 Marc

Citizens Insurance Focus - home insurance

The Senate Panel is seeking to answer big questions about the insurer’s exposure if a storm hits. The US Senate Budget Committee has requested a slew of documents and information from Florida’s Citizens Insurance, the home insurer of last resort in the state. The investigation has raised questions regarding climate risk and whether a major hurricane would cause the insurer to have to obtain help from the federal government. The committee is aiming to learn more about the insurer’s ability to pay claims in worst case situations. Governor Ron DeSantis…

Florida homeowners insurance through Citizens includes random home inspections

December 5, 2023December 4, 2023 H. Cutner

Homeowners insurance - Inspection Form - Florida Flag

Policyholders are worried about the way this new requirement will impact their rates. The largest homeowners insurance company in Florida has added a new requirement to its coverage, which is to conduct random home inspections of its customers. The state-run Citizens insurer has been taking steps to control the rates it charges its policyholders. Citizens, like all homeowners insurance companies in the state, has been required to continually raise its rates as the market in Florida becomes an increasingly costly place to do business. While many insurers have left the…

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

November 21, 2023November 20, 2023 H. Cutner

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…