Tag: Colorado wildfire insurance costs

Surging Insurance Costs Drive Record Shopping Rates: Analyzing the Key Trends

Marc
Surging Insurance Costs

Overview of Rising Home and Renters Insurance Costs In a striking revelation from the J.D. Power 2024 US Home Insurance Study, the costs of homeowners and renters insurance have surged beyond the rate of inflation, marking a significant shift in the insurance landscape. This uptick not only surpasses the average rate increases seen in auto insurance but also reflects a broader trend of rising insurance expenses nationwide. As these costs continue to climb, consumers are increasingly prompted to re-evaluate their existing policies, leading to a record high in shopping rates…

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Colorado homeowners scramble to find affordable wildfire insurance

Nordstrom
Wildfire insurance - Homeowners Coverage

State lawmakers are pursuing a government-run plan for property owners to use as a last resort. Residents of Colorado are well aware of the importance of wildfire insurance, following several years of major blazes. That said, they are struggling to find the coverage they need, particularly at an affordable price. State Representative Judy Amabile (D) has seen her own neighbors and constituents struggling. “I am starting to hear some of my neighbors are not getting renewed and I would have never dreamed I was at risk of a wildfire,” said…

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