Insurance news in Tennessee shows homeowners surprised by lack of roof payouts

Insurance news and roof damage material changes

Farm Bureau limits their payments for rooftop damage for recent policies. Residents of Tennessee may soon need to make larger out of pocket payments for roof damage, following the latest insurance news in which it was announced that 100 percent coverage would no longer be offered by a large insurer. Farm Bureau Insurance will now cover only the cash value of certain roof repairs. The insurer, also known as Tennessee Farmers Mutual Insurance Co., has released this insurance news, which states that roofing materials such as shingles will no longer…

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Driverless cars being test driven in California, though insurers aren’t quite ready for robot drivers

Auto insurance industry beside itself on the self driving car issue Though it may sound like science fiction to have a robot driving a car for you, Google is already taking driverless cars out on the roads of California to test them, regardless of the fact that the law hasn’t even considered that this could be possible. Next door, the state of Nevada has already created regulations that are allowing these robot operated vehicles onto its public roads, and Brian Sandoval, the governor of that state, has already been out…

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Homeowners insurance rates continue to skyrocket

Homeowners face increasing struggles as their home values continue to fall and maintenance costs continue to climb, with a new setback consisting of significantly higher insurance payments. Insurance rates for homes have been increasing steadily over the last few years, and the Insurance Information Institute has indicated that this year is expected to continue in that trend, with a rise of about 5 percent to reach an average of $1,004. This will have been the largest annual increase since the start of the recession, and will mark the first time…

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