Live Insurance News

Louisiana home insurance to see major changes, says new state commissioner

March 4, 2024March 2, 2024 Marc

As the state aims to find a way to repair its current crisis, it is making sweeping changes Louisiana residents are about to see a number of widespread changes to home insurance in the state as the new commissioner Tim Temple aims to fix the crisis in the state. Temple is determined to correct the state’s crisis “Louisiana has a very heavy-handed regulatory reputation,” said Temple. “We’re changing that.” Last week, he outlined a number of sweeping changes to the home insurance regulations in the state, making it possible for…

Part-time residents could see Citizens Florida home insurance rates doubling

June 28, 2023June 27, 2023 G. Turner

This particular group of Florida residents are expected to see a very large increase in their premiums. The spotlight is on Florida’s part-time residents at the moment, as their home insurance in particular is expected to skyrocket even more than that of people who are permanent residents of the state. Regardless of whether part-time residents live in condos or houses, the rates are heading to the moon. Citizens Insurance – the state home insurance of last resort – has asked regulators for permission to increase the rates of seasonal residents…

Homeowners insurer to cover gift card insurance at no extra cost

April 16, 2020April 15, 2020 H. Cutner

Gift Card Insurance - Woman holding gift cards

Consumers want to support local businesses by buying these certificates but are afraid the businesses won’t reopen. Erie Insurance has announced that its homeowners policyholders will receive gift card insurance coverage at no additional cost. These certificates allow consumers to pay now for purchases they will make at a later date. This additional protection has arrived at a time in which people are looking to buy the certificates from their favorite restaurants and businesses that have had to shut their doors due to the coronavirus pandemic. However, consumers are hesitant…

Use this January home safety checklist to prevent damage and insurance claims

January 3, 2019December 31, 2018 Julie Campbell

Start your year on the right foot by keeping your home and family safe and claim-free. This year, let a home safety checklist give you the right start for keeping up with your New Year’s resolution to be better to yourself. Taking the right simple steps can prevent a range of expensive and dangerous problems. You can keep yourself, your family, and your home safe from the need for a homeowners insurance claim. This January, check of each of these winter home safety steps to give you peace of mind.…

Homeowners insurance companies caught overcharging 13 million policyholders

November 27, 2017November 25, 2017 Marc

A new U.K. study has revealed that existing customers often pay considerably more than new ones. New Citizens Advice research demonstrates that up to 13 million U.K. customers are being overcharged by their homeowners insurance companies. Loyal customers and senior citizens are particularly victim to this trend. A very high percentage of homeowners over the age of 65 years have been paying more than new customers. The study revealed that 40 percent of home insurance policyholders over the age of 65 years and who have had their policy for over…

California Insurance Commissioner granted greater homeowners coverage authority

February 7, 2017February 5, 2017 G. Turner

The state’s Supreme Court ruled that the legislature gave California power to make certain specifications. The California Insurance Commissioner has the authority to decide which factors must be covered by homeowners insurance replacement cost estimate tools, says a state Supreme Court ruling. This will allow the commissioner to say what estimate tools home insurance companies are permitted to use. The decision updated a law from 2011 which was meant to help to reduce the ongoing underinsurance problem in the state. The original issue became truly problematic in 1991 when the…

Homeowners insurance choices faced by many Florida policyholders

September 12, 2013September 9, 2013 Julie Campbell

Florida homeowners insurance, Citizens Property

Considerable decisions are ahead in the state as Citizens divests itself of a massive number of policies. Within the next month, there will be almost 400,000 people in Florida who currently have homeowners insurance coverage through Citizens Property Insurance Corp., and who will be receiving notice in the mail from another insurer to advise the policyholders that their coverage will be transferred over to that new company by November 5, 2013. At that point, the policyholders will need to make one of two choices that will be available to them.…