Live Insurance News

Flood insurance rates to skyrocket in the US

April 16, 2015April 16, 2015 Nordstrom

Homeowners will be paying more for their flood protection this year Millions of homeowners in the United States could see their flood insurance rates skyrocket this year due to provisions of a relatively new legislation that have gone into effect this month. The legislation was meant to address the financial issues of the National Flood Insurance Program, which has been crippled by massive debt for some time. This year, the legislation allows flood insurance rates to increase in order to help the program recover from its financial problems. New provisions…

Earthquake insurance is becoming more important in California

April 14, 2015April 11, 2015 Logan B.

Homeowners may need to prepare for an earthquake with the right kind of insurance coverage The United States Geological Survey has released a report that warns that California may experience a major earthquake in the next 30 years. The report claims that an earthquake of a magnitude of 6.7 or higher is coming, but there is no telling exactly when in the next three decades the event will come. Those living in the state may need to prepare for the disaster, but most Californian homeowners are unaware that there is…

Australian government to investigate high homeowners insurance rates

April 3, 2015April 2, 2015 S.Vagus

Government will be examining the rate at which insurance premiums are growing in Queensland The Australian Federal Government will be investigating the claimed need for higher property insurance rates in Central and Northern Queensland. Those living in these areas have seen their insurance rates grow at an exponential pace, placing them under heavier financial burden than they have experienced in the past. Some federal officials believe that the rate hikes that property owners have experienced are “ridiculous,” and they want to ensure that consumers are being treated fairly. Disasters continue…

Flood insurance rates to skyrocket higher in the US

April 2, 2015April 1, 2015 Logan B.

Flood protection will become significantly more expensive for coastal homeowners Flood insurance rates for coastal properties throughout the United States will rise in April. Rates will rise as a result of the Homeowners Flood Insurance Affordability Act of 2014. The legislation was meant to address the growing issue of expensive flood insurance coverage. One of the provisions of the legislation was meant to delay rate increases for a time, but coastal properties are expected to see significant rate increases due to the other provisions of the law. Coastal properties are…

1,100 homeowners insurance claims generated after Oklahoma storms

March 31, 2015March 28, 2015 Logan B.

Oklahoma Insurance Department sheds light on recent disasters and offers advice The Oklahoma Insurance Department has released information that shows that 1,100 homeowners insurance claims have been generated by storms that hit the state earlier in the week. The state fell victim to powerful storms that generated tornadoes and caused a significant amount of property damage. Many homeowners were affected by the disasters that struck the state and more claims may be filed in the coming weeks as property owners continue to assess the damage. Tornadoes have caused significant damage…

Study highlights increasing homeowners insurance costs in New Mexico

March 27, 2015March 26, 2015 Nordstrom

New Mexico homeowners can expect to pay more for their insurance coverage A new study from Insurancequotes.com has shown that those living in New Mexico could expect to be paying more for their homeowners insurance. Summer is coming and that means the beginning of fire and flood season in the state. Fires and floods can cause significant damage to property, as has been seen in the past. These disasters have had an impact on the insurance industry, and those living in risk-prone areas of the state could see their homeowners…

Homeowners insurance policies continue to be released by Florida’s Citizens Property Insurance

March 23, 2015March 21, 2015 S.Vagus

State-run insurer finds success with its depopulation efforts Florida’s Citizens Property Insurance, which offers homeowners insurance coverage to consumers, has successfully shed the bulk of its policies over the past year. The state-run organization has been trying to depopulate itself of policies in order to address its financial issues, reducing its exposure to risks while becoming more stable and resilient against future natural disasters. The policies released by the organization have been picked up by private companies, which continue to provide consumers with homeowners insurance coverage. Citizens Property Insurance now…