Tag: homeowners insurance rates

Homeowners insurance rates in North Carolina heading up by 7 percent

G. Turner
North Carolina Homeowners Insurance Rates

The state regulator has now signed an agreement that allowed for the statewide increase. The leading homeowners insurance regulator in North Carolina has just given their approval to allow insurers in the state to increase their rates by an average of 7 percent per year, beginning in July. The original request had been much higher than that in October, but the Commissioner has found 7 percent to be justified. In October 2012, the North Carolina Rate Bureau had requested 17.7 percent, on average, as an increase across the state. Though Commissioner…

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Homeowners insurance battle ensues between California commissioner and Mercury

H. Cutner
Commissioner Dave Jones, california homeowenrs insurance

The insurer’s chairman and founder, George Joseph, is suing to stop the action of state regulators. Regulators in California have ordered a reduction in homeowners insurance rates by Mercury Casualty Co., only to be contested by the insurer, which is refusing to comply with the ruling. The order was to reduce the rates for the property coverage by an average of 8.2 percent. The insurer, based in Los Angeles, is now arguing the order that was made by the state to reduce the rates that it has been charging. The…

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Homeowners insurance rates could fall following new rating from fire department

mobile alabama mayor samuel jones homeowners insurance

Some residents of Mobile, Alabama may find that new safety scores could bring their premiums down. Local fire departments are playing a new role for homeowners insurance customers in Mobile, Alabama, in that the safety ratings that they have been issuing are making it possible for those policyholders to save money on their premiums. An increase in fire stations and firefighters, among other factors, are converting into coverage savings. Alabama homeowners insurance customers are experiencing a faster response time due to many factors, including a raise in the number of…

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Homeowners insurance could rise due to hurricane fund bill

G. Turner
Florida Homeowners Insurance

A proposal to decrease the size of the fund could make it more expensive for Florida property owners. A new bill in the state of Florida could have homeowners insurance customers in the state paying more for their coverage as it aims to make the hurricane fund smaller than it currently is. The bill is geared toward shrinking the size of the Florida Hurricane Catastrophe Fund. Florida’s catastrophe fund has been an important source of cash for making claims payments in the state following severe disasters. Should this bill pass,…

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Homeowners insurance in Australia may see considerable increases

Australia Flood insurance homeowners

Some areas are being seen as higher risks for flooding, fires, and drought, among other perils. Australia is now experiencing some of the most fierce and extreme weather and natural events that have ever been recorded, causing many homeowners insurance customers to ask themselves whether they should expect to pay higher premiums in order to compensate from the increasing risks. The current summer in the country has been one of the most damaging single seasons on record. Many of the areas in the country faced scorching temperatures throughout the summer…

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