Tag: homeowners insurance news

Homeowners insurance claims in Australia rising quickly from bushfires

Julie Campbell
widlfire homeowners fire Insurance

These wildfires have already brought about claims that have broken the $96 million mark, so far. According to the Insurance Council of Australia (ICA), there have already been more than 900 business, auto, property, and homeowners insurance claims with insurers in Australia, and that this has brought about a loss of over $96 million ($100 million Australian), so far. It is believed that there are more claims that will be filed with each passing day for the next while. A spokesperson for the ICA, Campbell Fuller, explained that assessors for…

Read More

Homeowners insurance risk warnings for Halloween celebrations issued

H. Cutner
halloween homeowners insurance claims

As property owners add their decorations and prepare for parties this weekend, there are certain cautions from the industry. As Halloween approaches, people have started to decorate their homes in preparation for trick or treaters and for parties that will be held this upcoming weekend (the last one before the holiday), but the industry is warning that there are certain risks involved and that homeowners insurance should be properly checked and understood before proceeding. This way, it can help to avoid possible problems and misunderstandings with insurers. It can also…

Read More

Homeowners insurance premiums in Minnesota need only one claim to spike

G. Turner
Home prices are down but insurance prices are up!

The cost of the coverage within the state will jump after even a single claim has been made. According to the results of a recent study, filing just one claim is enough to cause the premiums for a homeowners insurance policy to skyrocket in the state of Minnesota, which was the highest rate of increase in the country following one claim. In fact, the research showed that after a claim, the average increase in premiums was 21.2 percent. That figure is according to a homeowners insurance report that was issued…

Read More

Homeowners insurance group having trouble with depopulation

Logan B.
Florida homeowners insurance, Citizens Property

Citizens Property Insurance is shedding homeowners insurance policies slowly Florida’s Citizens Property Insurance has been working to depopulate itself over the past year and a half. The state-run organization is typically the last and best place for people in Florida to find homeowners insurance coverage, but the organization itself has been crippled by financial problems for the past several years. Citizens Property Insurance exists as a major financial liability for the state, which is why the organization has been forced by lawmakers to shed policies. This endeavor, however, has been…

Read More

Homeowners insurance focused agents are missing large opportunity

H. Cutner
insurance agents

A new J.D. Power report has shown that these professionals are not taking advantage of the long term benefit of renter customers. According to a new report from J.D. Power, agents who place all of their focus on homeowners insurance customers are not taking advantage of the opportunity offered to them for greater long term success that stems from the relationships that they can build with renter customers. As the needs of tenants grow, due to changes in their lives or circumstances, they could provide additional opportunities. Renters coverage may…

Read More