Tag: insurance coverage

Safeco, Liberty Mutual, and the Lawsuit Challenging Insurer Accountability

Angela Linders
Safeco and Liberty Mutual Hail Damage Lawsuit

Safeco and Liberty Mutual Hail Damage Lawsuit Highlights Industry Challenges Hailstorms might last minutes, but their implications can drag on for years, especially when insurance claims come under scrutiny. A high-profile lawsuit in Oklahoma has brought Safeco and Liberty Mutual into the spotlight, raising questions about both policyholders’ rights and insurers’ responsibilities. While allegations of bad faith claims and branding confusion have fueled the debate, it’s worth examining the perspectives of all parties involved to uncover the complexities of this case. The Lawsuit Breakdown Ralph and Myrna Lightfoot of Oklahoma…

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The Intersection of Mortgage Insurance and Property Insurance in Today’s Housing Market

Ester Adams
Mortgage Insurance and Property Insurance

Understanding Mortgage Insurance and Property Insurance If you’ve purchased a home or plan to, understanding the different types of insurance tied to it is crucial. Two key types are mortgage insurance and property insurance, but they serve very different purposes. Mortgage insurance protects lenders in case a borrower defaults on their home loan. It’s usually required when the down payment is less than 20%. The cost of mortgage insurance is based on the value of the property. For example, a more expensive home will generally result in higher mortgage insurance…

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Miami Lawmaker Takes Aim at Condo Insurance for Noncompliant Buildings

H. Cutner
Miami Condo Insurance

Noncompliance with Building Safety Laws Draws Scrutiny A Miami lawmaker is spearheading efforts to hold condominium associations accountable for adhering to Florida’s newly implemented building safety regulations. These laws, adopted in the aftermath of the tragic Surfside condo collapse in 2021, are designed to ensure the safety and sustainability of residential buildings, particularly those three stories and higher. Under state law, condominium associations were required to complete a building inspection and conduct a funding study for future repairs by December 31, 2022. However, of the 11,270 associations mandated to comply,…

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How Fake Basquiat Paintings Sparked a $19M Insurance Battle and What It Means for You

Tate Ellison
Fake Basquiat Paintings

How the Basquiat Forgeries Shed Light on Art and Insurance The art world is buzzing with news of an ongoing $19.7 million legal battle involving Liberty Mutual Insurance Company, Great American Insurance Company, and the owners of a collection of fake Jean-Michel Basquiat artworks. While it may sound like a story for wealthy collectors and fancy museums, it also holds valuable lessons for everyday homeowners who own—or hope to own—art. The case began when the FBI seized 25 works claimed to be by Basquiat from the Orlando Museum of Art…

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State Farm Reverses Course, Offering Hope to Wildfire-Affected Homeowners

G. Turner
Auto insurance - State Farm Logo on Building

Thousands of Homeowners Find Relief Amid Uncertainty After devastating wildfires tore through Los Angeles County earlier this month, State Farm has announced a reversal in its policy cancellations, providing much-needed relief to thousands of California residents. Homeowners who feared losing their insurance coverage now have the option to renew their policies, a decision applying to those whose insurance was active as of January 7, 2025—the day the fires ignited. State Farm’s U-Turn in the Face of Crisis State Farm’s decision impacts approximately 1,100 policyholders in Pacific Palisades’ ZIP code 90272…

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Why Every Homebuyer Should Demand Flood History Transparency

H. Cutner
Flood History Transparency

The Hidden Risks of Buying a Flood-Prone Home For millions of Americans, purchasing a home is the single largest financial decision they will ever make. Yet many buyers face an alarming obstacle when it comes to flood risk. More than one-third of U.S. states fail to require any disclosure of a property’s past flood damage or risk during a real estate transaction. This leaves countless buyers unaware they may be stepping into a financial nightmare. Flooding is the most common and costly natural disaster in the U.S., and a home…

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Liberty Mutual Lawsuit Raises Alarming Questions for California Homeowners

Live Insurance News
Liberty Mutual Lawsuit

Southern California Homeowner Challenges Liberty Mutual Over Policy Cancellation A Poway homeowner, Maria Badin, has filed a lawsuit against Liberty Mutual Insurance Co., alleging unjust cancellation of her long-standing home insurance policy. This legal battle may have significant implications not only for Badin but also for many other Californians facing similar situations. Allegations of Misconduct by Insurance Companies Maria Badin, a Liberty Mutual customer since 1993, claims her policy was abruptly nonrenewed after an aerial inspection reportedly identified “algae, mildew, mold, or moss” on her roof. However, upon hiring an…

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