Consumers are increasingly choosing to buy the smallest possible amount of coverage. When the vast majority of people purchase homes, they do so with a mortgage that requires them to carry a certain minimum amount of homeowners insurance coverage. That said, to an increasing degree, consumers are deciding to buy no more than the minimum allowable amount of coverage. Property buyers are facing a rapidly growing total of costs, leaving little room for extras. While homeowners insurance is required – and will provide exceptionally important coverage in the case of…
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Home insurance coverage rules shock many new dog owners in adoption boom
The pandemic has caused breeders and shelters to sell out, but some owners aren’t as covered as they think. Dogs were among the sales booms to take off as a result of the pandemic, but many owners are shocked to discover that their home insurance coverage doesn’t cover their new pets. There are certain breeds that many insurers simply will not cover for expensive liability claims. As a result, if a dog bites someone or causes them injuries in another way such as by scratching them or jumping on them,…
Read MoreCalifornia bans insurance companies from dropping climate change risk affected policies
Wildfires have become costly enough that insurers have been ending coverage for many homes. California has taken an unusual new step to help to combat the cost of climate change risks among homeowners across the state. Wildfires have risen in the cost and damage they cause and insurance companies have started dropping coverage. The state has implemented a new regulation to stop insurance companies from dropping policies. The added expense from rapidly rising claims from climate change risks has motivated insurance companies to drop homeowners insurance policies at an increasing…
Read MoreHalloween insurance claims always rise, often more than any other day
As much as trick-or-treating may be fun, it can also lead to some of the costliest claims to insurers. Insurers are gearing up for another holiday of Halloween insurance claims, as is the case every year. As fun as this day may be for kids of all ages, homeowners and car owners often face some of their worst outcomes. Data shows that home and auto theft and vandalism claims are consistently high on Halloween. Therefore, insurers always encourage homeowners and car owners to review their policies before Halloween insurance claims…
Read MoreTravelers insurance discounts added after purchase of home policies over Amazon
The insurer has opened a storefront on the website’s marketplace, said a company announcement. Policyholders seeking Travelers insurance discounts may be able to find them by shopping on Amazon. The insurance company has created a digital storefront that has become the first of its kind on the electronic marketplace. The homeowners insurance policies will use smart home technology to help monitor houses. “Smart home technology is making it easier for all of us to monitor our homes and help protect us from some of the most common causes of damage,”…
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