Most common and costly homeowners insurance claims

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A recent analysis conducted by The Travelers Companies has revealed some significant trends. According to the results of a homeowners insurance claims data analysis conducted by The Travelers Companies Inc., weather incidents were the cause behind more than half of all the filings that were made by policyholders. Among the events that were most commonly at fault were wind, frozen bursting pipes and leaky roofs. Despite the fact that the most common homeowners insurance claims were those caused by weather damage, it was the fire damage claims that were the…

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Fire insurance losses in California broke the $1 billion mark

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The payouts for claims for damage caused by two tremendous blazes in the northern part of the state were huge. Two massively destructive wildfires in Northern California not only killed six people and caused thousands of residents to have to leave their homes behind, but they were also damaging enough to lead to over $1 billion in losses covered by fire insurance. This represents a preliminary estimate that has now been released by the California insurance department. These two different wildfires began burning in September, only days apart from each…

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Homeowners insurance is running from Californian wildfires

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As the brush fires and blazes moved ahead, insurers started to step back from providing coverage. Near the start of October, homeowners insurance companies found themselves covering the majority of the almost 5,000 claims that were made as a result of two wildfires that occurred in September in Northern California and agreed both to provide the policyholders with a larger amount of time in which to document their claims and to boost the speed of the payments. That said, following one of the worst wildfire seasons in the state, the…

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New information discovered about fire insurance denials in Indian Hill

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Details have now been released about the blaze in Ohio that destroyed a $4 million home. In 2014, a massive fire ripped through a multi-million dollar home in Indian Hill, Ohio, but despite the fact that it was covered by fire insurance, the insurer denied the owner’s claim and refused to pay for the damages. New details with regards to that case have now emerged to shine some light on the situation. The homeowners, Jeffrey and Maria Decker, filed a $60 million lawsuit against the fire insurance company, last January.…

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Wildfires bring unwanted insurance news to Californians

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Certain areas of the state have now been labeled as high-risk markets which is sending rates skyward. The Modjeska Canyon has a great deal of appeal for many residents of California, but at the moment, the insurance news that they have been receiving hasn’t been as good as most would have liked it to be. The area has received a high-risk rating when it comes to being prone to wildfires, making insurance expensive. Modjeska Canyon has all the benefits of being tucked away against the mountains, close to the Cleveland…

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