Tag: home insurance premiums

Commissioner Lara doesn’t want easier rate changes for home insurance companies

Nordstrom
Home insurance companies - home, money, calculator

The California Insurance Commissioner is siding with consumer activists to halt legislation. California Insurance Commissioner Ricardo Lara is taking the side of consumer activists in an effort to stop a bill that would make it faster and easier for home insurance companies to change their rates. AB 2167 passed the state Assembly on Monday by a vote of 56-3. That said, the bill’s opponents say that this would set the stage for home insurance companies to impose substantial premiums spikes for homeowners in parts of the state hardest hit by…

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American homeowners insurance rates have skyrocketed in the last 10 years

H. Cutner
American homeowners insurance rates - House

A recent study showed that property owners are paying far more now than a decade ago. Natural disasters occurring over the last ten years are being blamed for a surge in American homeowners insurance rates. Tornado alley has experienced the fastest increase in home insurance premiums in the US. A LendingTree subsidiary, QuoteWizard, looked at data over the last 10 years to explain the steady, sharp increase in American homeowners insurance rates. What they determined was that there has been a series of natural disasters that have kept premiums moving…

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Home insurance premiums can rise due to nearby fracking

Logan B.
California earthquake insurance sales skyrocketed last year

Thousands of homeowners across Yorkshire are concerned as the operations prepare to begin. Many residents in areas surrounding upcoming fracking sites are concerned about rising homeowners insurance premiums. This is the case in a number of regions around Yorkshire where the operations may soon begin. Industry experts have cautioned homeowners in those areas that they should expect to pay more. The Yorkshire Post reported that experts in home insurance premiums believe fracking may affect the amount people pay. That said, precisely how the insurance rates will be affected has yet…

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Homeowners insurance rates in Nebraska are higher than the US average

H. Cutner
Nebraska Health homeowners Insurance

Property owners in the state are seeing premiums that are a touch higher than the rest of the country. A new report from the National Association of Insurance Commissioners (NAIC) has revealed that the people in Nebraska have been paying homeowners insurance premiums that are slightly higher than the average across the country. The report is based on data from 2013 and shows the average national annual premiums to be $1,096. That said, in Nebraska, that price tag is slightly higher, as the average homeowners insurance bill every year is…

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Allstate home insurance is getting cheaper in California

Julie Campbell
allstate homeowners home insurance rates

The insurer and the state commissioner have agreed to reduce the rates for homeowners coverage. Dave Jones, the California Insurance Commissioner, has now come to an agreement with Allstate Insurance Company and Allstate Indemnity Insurance in order to decrease the rates being paid by home insurance customers in the state. In fact, the homeowners insurance rates for California Allstate customers will drop by an average of 12.6 percent. For Californians who have home insurance through Allstate, this decision represents a decrease of an average of $230, each. The reduction in…

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