Residents of parts of the U.K. that suffered from flooding may soon be seeing higher premiums, too. People living in the parts of Cumbria in the United Kingdom, which have been stricken by flooding following Storm Desmond may soon have further unwanted news as it is expected that homeowners insurance rates will likely rise in that area as a result of the losses that were recorded. As of yet, it is too early to predict exactly how much the storm will be costing the insurance industry. In the U.K., an…
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The cost of homeowners insurance and taxes forces “Extreme Makeover” family to sell
The lucky family that received free home rebuild after their previous residence has now listed the property. A family that was given a “Extreme Makeover” for their house after Hurricane Ike had destroyed it, has now put the Houston residence up for sale because they are unable to continue to afford the cost of homeowners insurance coverage and the taxes. Moreover, they have been forced to drastically reduce the list price because of the struggling real estate market. Home buyers who will be able to afford the taxes and the…
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