Tag: homeowners insurance policies

Citizens may increase homeowners insurance policy rates

Julie Campbell
homeowners insurance

Citizens is debating whether or not to increase the rates for new homeowners insurance policies. Consumers, in Florida, taking out new homeowners insurance policies at Citizens may discover that they are being charged higher initial rates than existing policyholders with that insurer. The result of a proposal being debated by the governing board at Citizens Property Insurance Corp. could mean that individuals taking out a policy from the state-backed coverage pool after January 1, 2013 may find that the rates that they pay are over 10 percent higher than the premiums…

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National Severe Weather Preparedness Week is a good time to review homeowners insurance

Homeowners Insurance

The National Severe Weather Preparedness week is now underway, reminding property owners to go over their homeowners insurance and protect themselves. Homeowners insurance policyholders are encouraged to take the time to go over their policies this week, as it is National Severe Weather Preparedness week, and it is important that they understand exactly what their coverage provides as well as what additional protection and preventative efforts they can make. According to a statement by the Insurance Institute for Business and Home Safety, the organization’s CEO and president, Julie Rochman said…

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What to consider when purchasing vacation home insurance

H. Cutner

Vacation home insurance Though it’s obvious that when you purchase a home, you will also want to cover it with homeowners’ insurance, many people feel uncertain when it comes to deciding on the coverage required for their vacation homes. Insuring your summer or vacation home or cottage is extremely important, not only for when you are present, but especially because it is empty for a significant amount of the time. By purchasing adequate coverage, you’ll know that your secondary home and possessions will be covered even when you aren’t there.…

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Insurers seek to “share the risk” with communities with a higher chance of wildfires

Insurance news – Can industry and consumers find a common ground Insurance companies have announced their hopes to “share the risk” of wildfires with the communities and homeowners located within wild land-urban interface areas. A Rocky Mountain Insurance Information Association presentation outlined the details of the fact that insurance companies are not as willing to provide or renew insurance to customers who are at a high risk of wildfires. As stated by a New Mexico-based State Farm Fire and Casualty Insurance Company official, Matt Brenner, “Why should homeowners be interested…

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Virginia officials encouraging residents to purchase earthquake insurance

Marc

Virginia officials are urging residents to check their home insurance policies to ensure they have protection against earthquakes. The initiative comes as a new law takes effect, which will force insurance companies to disclose what their various policies do not offer coverage for. State officials are hoping that residents will be proactive in finding out what coverage they may lacking and take steps to rectify the problem before they fall victim to a devastating natural disaster. According to the State Corporation Commission’s Bureau of Insurance, many Virginia residents do not…

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