Live Insurance News

Homeowners insurance issues growing for many Sandy victims

June 12, 2013June 10, 2013 G. Turner

Flood homeowners Insurance Rates raising homes

Following the devastation left behind by sandy, residents of the area now face another expensive choice. Thousands of homeowners insurance customers are now facing expensive choices beyond having to manage and pay for the repairs from the catastrophe that Superstorm Sandy left in its wake along coastal areas of the eastern United States. Many property owners are finding that they can’t afford any of the choices now in front of them. This homeowners insurance news isn’t entirely new to these residents, except for the fact that it is now coming…

Homeowners insurance rates cause struggle among coastal residents

June 3, 2013June 1, 2013 G. Turner

New bill for Florida could mean higher property premiums

Property owners along the coastlines of the United States are watching their premiums soar. A trend is being observed by homeowners insurance customers who reside along coastlines across the country, which is making it more challenging for them to be able to keep their homes because it is becoming too expensive for many of them to afford the cost of coverage. Within the last couple of decades rates have grown ever skyward for these coastal customers. While many have tightened their belts and have managed to keep up with the…

Homeowners insurance rates move up in tornado prone Oklahoma

May 4, 2013May 2, 2013 G. Turner

As the season for natural disasters begins, the premiums are headed skyward yet again. Over the last few years, Oklahoma has seen some of its costliest natural disasters, and with the increase in the losses from tornado damage, homeowners insurance rates are now on the rise. The season for tornadoes has now begun and people across the state are keeping a watch on the skies. Some of the regions in Oklahoma are among the hardest hit by severe weather in the entire country. In 2010, there were 55 tornadoes that…

Homeowners insurance premiums expected to skyrocket in some U.K. regions

April 15, 2013April 13, 2013 G. Turner

The price of coverage is expected to soar in areas where floods are known to occur. Properties that are located in areas that are at risk of flooding in Scotland could soon be facing a considerable increase in the cost of their homeowners insurance now that a deal that had been in place to guarantee affordable protection is nearing its expiration date. Homes impacted by the winter floods, recently, or that are located in areas of increased risk are being cautioned. The next time that homeowners insurance policies are renewed…

Homeowners insurance rates in Florida may spike under new bill

April 12, 2013April 30, 2013

Property owners could find themselves paying a great deal more should SB1770 pass. If a new Senate Bill (SB 1770) is able to pass the Florida Legislature, property owners purchasing homeowners insurance coverage through Citizens could be facing steep rates. The complex bill made its way relatively smoothly through the Senate of the state. Throughout that time, lawmakers have been hearing considerable figures regarding the costs that would be faced within the state if a large hurricane should strike. These figures included $100 billion in possible damages, over $9 billion…

Homeowners insurance costs eclipse mortgages in Florida

March 28, 2013April 30, 2013

Florida homeowners now paying more for insurance than for their homes One of the highest expenses facing Florida families has long been the mortgage on their homes. Mortgages in the state, just as elsewhere throughout the U.S., put a large amount of financial pressure on families. While mortgages have been the highest expense for many families in the state, these families are beginning to pay more for their homeowners insurance coverage, according to the Insurance Information Institute. The non-profit organization suggests that consumers are paying more for their homeowners, auto,…

Homeowners insurance in South Carolina could see premiums reduction

March 28, 2013March 26, 2013 G. Turner

A new bill would introduce considerable reform to the property owners of the state. A legislator in South Carolina has taken the first shot at implementing major changes to the homeowners insurance system in the state for the first time in six years, with the goal of bringing down the cost of the coverage. The proposed bill would offer coastal insurers with tax credits and provide consumers with improved comparison shopping. This homeowners insurance bill was introduced by state Senator Tom Davis (R-Beaufort) and will open the debate regarding a…