Tag: home insurance

The Intersection of Mortgage Insurance and Property Insurance in Today’s Housing Market

Ester Adams
Mortgage Insurance and Property Insurance

Understanding Mortgage Insurance and Property Insurance If you’ve purchased a home or plan to, understanding the different types of insurance tied to it is crucial. Two key types are mortgage insurance and property insurance, but they serve very different purposes. Mortgage insurance protects lenders in case a borrower defaults on their home loan. It’s usually required when the down payment is less than 20%. The cost of mortgage insurance is based on the value of the property. For example, a more expensive home will generally result in higher mortgage insurance…

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Helene & Milton vs. FEMA’s Wallet – How Two Hurricanes Changed the Flood Insurance Game

H. Cutner
Flood Insurance - Hurricane Helene and Milton

FEMA Borrows $2 Billion to Cover Flood Claims After Hurricanes Helene and Milton According to an article in the Florida Weekly, the Federal Emergency Management Agency (FEMA) is borrowing $2 billion to cover National Flood Insurance Program (NFIP) claims after back-to-back devastation from Hurricanes Helene and Milton in Florida’s Gulf Coast last year. The sheer scale of damage and the tens of thousands of claims made have underscored the challenges of funding flood insurance in a time of increasingly severe weather. Storms Bring Catastrophic Flooding and Widespread Damage Hurricane Helene…

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The Truth About Rising Insurance Costs and What It Means for Your Wallet

Ben Jones
Rising Insurance Costs

Rising Insurance Costs in High-Climate Risk Regions: Causes and Implications Insurance costs are soaring in regions with high climate risks, leaving many homeowners grappling with affordability. Driven by factors such as inflation, legal system abuse, and government rate suppression, these rising premiums are reshaping the insurance landscape. While extreme weather events are often seen as the main culprit, a deeper analysis reveals a complex web of contributing factors. The resulting instability has pushed some consumers toward government insurance programs, underscoring the need for balanced, sustainable solutions. Factors Driving Insurance Costs…

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California’s Evolving Insurance Market: Is Relief on the Horizon?

Ester Adams
California Insurance Market

California’s home insurance market has been under immense pressure in recent years, leaving homeowners dealing with uncertainty about their coverage. Farmers Insurance, the state’s second-largest home insurer, recently announced a significant decision to expand the number of policies it writes each month. While it marks a potential turning point, many questions remain about the long-term sustainability of California’s insurance landscape. Here’s a breakdown of the situation, players involved, and what lies ahead. Farmers Insurance Expands Policy Sales Cap After limiting itself to selling 7,000 policies per month in California, Farmers…

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Can Allstate Balance Growth and Risk in Today’s Unpredictable Insurance Landscape?

Logan B.
Allstate Insurance investing

Allstate Corp. (NYSE:ALL): Facing Challenges and Opportunities in Insurance Allstate Corp., one of the largest insurance companies in North America, is navigating a mix of opportunities and challenges in today’s evolving market. Valued at roughly $53.88 billion as of late 2024, the company has spent the last five years shifting its focus to better connect with customers, particularly through its direct-to-consumer (D2C) offerings. Recent earnings reports show that Allstate is performing well in some areas, with profits coming in higher than expected. However, these successes have been overshadowed by large…

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Could Your Yard Be Inviting Fire? Discover the Common Mistake Homeowners Make

G. Turner
homeowners high risk mulch

Mulch Fire Risk Poses Growing Threat to California Homes In California, where the risk of wildfires is both imminent and escalating, a common landscaping choice—mulch—is emerging as an overlooked fire hazard that many homeowners inadvertently invite into their yards. This seemingly innocuous product, made from organic materials like wood chips and bark, can easily ignite and create a dangerous “fuel source” right next to residences. The Rising Tide of Wildfires California’s unique climate—a combination of hot, dry summers and seasonal Santa Ana winds—has created the perfect storm for wildfires. Drought…

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Consumer watchdog considers banning US title insurance

G. Turner
Title Insurance -Ban in question

The Consumer Financial Protection Bureau is thinking about stopping this mortgage lender practice A leading consumer watchdog in the United States is thinking about whether mortgage lenders should be banned from charging borrowers for title insurance. The coverage is meant to add a layer of protection for lenders Charging homebuyers for title insurance has long been a practice among mortgage lenders, who use it to provide themselves with additional protection.  According to people familiar with the Consumer Financial Protection Bureau consumer watchdog matter, as cited in a recent Bloomberg report,…

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