One in 10 US homes aren’t covered by property insurance

Property insurance - Large family home

Though most homes have coverage, there are still many that remain entirely uninsured. The majority of US homes are covered by property insurance, but there has been a trend causing homeowners to drop their coverage, placing themselves at substantial financial risk. The Insurance Information Institute reports that as of 2023, 88 percent of homes in the US are covered. That said, this figure means that 12 percent of US homes are not protected by property insurance. Moreover, that number has more than doubled since 2014, when it was only 5…

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Colorado Homeowners Insurance Rates Experience a Staggering Uptick

Homeowners’ insurance - high rates

Both house and condo owners have been watching their premiums head through their roofs. Condo owners in Louisville, Colorado have been reporting that their homeowners insurance rates have skyrocketed by 700 percent. This isn’t an isolated incident, as rates throughout the state have been rapidly rising this year. Colorado homeowners insurance premiums have been going up for a number of reasons, but they are mainly being linked to high inflation in addition to increasingly common and destructive wildfires, floods, and hailstorms. State Rep. Kyle Brown, a resident of Louisville, Colorado,…

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Keep homeowners liability insurance rates down with dog training tips

homeowners liability insurance dog bite insurance

Knowing how to keep your pet under control can translate into a lower risk of premiums-hiking incidents. Most dogs are wonderful furry family members, which means that you’d never really think of the connection between Rover and how much you pay for homeowners liability insurance. However, losing control of your pet could lead to lawsuits, insurance claims, and other problems you may never have considered. Responsible dog ownership means keeping control, and that typically requires basic training. By taking the proper steps to prevent avoidable problems, you can keep your…

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Allstate homeowners insurance rates increase following 191 hike approvals

Allstate homeowners insurance rates - Home Money - Rates

The insurer has the green light to raise its premiums for property owners across 43 states. Following the receipt of 191 approvals from state regulators in 2020, Allstate homeowners insurance rates can rise in as many as 43 states. This would produce a premiums increase of an estimated $222.3 million, according to an S&P Global Market Intelligence analysis. Conversely, State Farm’s filings suggest that they will be reducing their premiums in 17 states. At the same time that Allstate homeowners insurance rates filings were seeking to increase premiums, State Farm…

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Homeowners insurance companies caught overcharging 13 million policyholders

homeowners insurance companies

A new U.K. study has revealed that existing customers often pay considerably more than new ones. New Citizens Advice research demonstrates that up to 13 million U.K. customers are being overcharged by their homeowners insurance companies. Loyal customers and senior citizens are particularly victim to this trend. A very high percentage of homeowners over the age of 65 years have been paying more than new customers. The study revealed that 40 percent of home insurance policyholders over the age of 65 years and who have had their policy for over…

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