Tag: California homeowners insurance

Homeowners insurance rate challenge partially lost by Mercury

H. Cutner
California Homeowners Insurance

The insurer has failed to win a segment of its ongoing legal challenge in California. Mercury Insurance Group, the massive company serving California, has just lost a segment of its ongoing homeowners insurance rate legal challenge that it made against an order from state regulators. The petition to delay the decrease in the insurer’s rates which had been ordered upon them was rejected. The insurer lost their petition for the homeowners insurance rate decrease delay in the Sacramento Superior Court. The result will be that approximately 270,000 residents of California…

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Homeowners insurance battle ensues between California commissioner and Mercury

H. Cutner
Commissioner Dave Jones, california homeowenrs insurance

The insurer’s chairman and founder, George Joseph, is suing to stop the action of state regulators. Regulators in California have ordered a reduction in homeowners insurance rates by Mercury Casualty Co., only to be contested by the insurer, which is refusing to comply with the ruling. The order was to reduce the rates for the property coverage by an average of 8.2 percent. The insurer, based in Los Angeles, is now arguing the order that was made by the state to reduce the rates that it has been charging. The…

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Homeowners insurance rates at State Farm to decrease in California

Homeowners insurance New Jersey

It is estimated that the average premiums will drop by 12.6 percent across the state, starting April 15. The largest homeowners insurance company in California has just announced that it will be reducing its rates across the state by an average of 12.6 percent for over one million customers, as of halfway through April. The average customer should expect to see an annual reduction in premiums of about $100 in 2013. The actual drop that will be seen in the rates paid by consumers will vary from one area to…

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Homeowners insurance in California to see lower rates for some customers

Homeowners Insurance

AAA has announced that some of its policyholders will see decreases of 9.3 percent. California Insurance Commissioner Dave Jones has announced that many homeowners insurance customers will be experiencing a notable lowering of their rates. This applies to many of the policyholders of AAA Northern California, Nevada and Utah Insurance Exchange. The reduction will be an average of 9.3 percent. It is likely to be greatly appreciated by homeowners insurance customers, particularly at a time when increases are being experienced throughout the country. The decrease is breaking with a number…

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California Insurance Commissioner Dave Jones requests reduced rates from “forced-placed” mortgage insurance companies

Insurance Commissioner Dave Jones has spoken with the 10 biggest insurers providing “lender-placed coverage” California insurance, in order to address a number of concerns that have been brought to his attention regarding excessive rates. Within that communication, Commissioner Jones directed that a California Department of Insurance (CDI) rate filing be made in order to lower their rates. The insurance commissioner too this step at a time when reports have been made quite heavily regarding sketchy financial integration between insurance companies that offer “forced-placed” mortgage insurance, and the mortgage lenders themselves.…

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