Live Insurance News

Lightning insurance claims were highest in these 5 states last year

June 22, 2022June 21, 2022 G. Turner

About 9,000 customers filed for this type of damage with State Farm last year, for a total of $107 million. Last year, State Farm paid almost 9,000 lightning insurance claims to homeowners’ policyholders, who received a total of about $107 million to repair the damages caused. Some states have seen substantially more claims of this nature than others across the country. According to State Farm, the states that experienced the most lightning insurance claims were: Texas, with $7.7 million in total claims. Georgia, with $7.3 million in total claims. California,…

Home insurance coverage rules shock many new dog owners in adoption boom

April 16, 2021April 17, 2021 Logan B.

Home-insurance-coverage - Doberman and a Yorkshire Terrier

The pandemic has caused breeders and shelters to sell out, but some owners aren’t as covered as they think. Dogs were among the sales booms to take off as a result of the pandemic, but many owners are shocked to discover that their home insurance coverage doesn’t cover their new pets. There are certain breeds that many insurers simply will not cover for expensive liability claims. As a result, if a dog bites someone or causes them injuries in another way such as by scratching them or jumping on them,…

Natural disaster damage sends homeowners insurance rates skyward

November 13, 2019November 12, 2019 Marc

Natural Disaster Damage - Tornado destruction

Insured losses resulting from claims relating to Mother Nature have been climbing sharply. Natural disaster damage has been sending homeowners insurance claims upward and, as a result, it has meant that rates for policies have been rising, too. A new analysis showed that severe storms and other catastrophes are becoming more common. Over the last ten years, natural disaster damage has become more commonplace and more expensive for homeowners and insurers. According to a new analysis, this is causing home insurance rates to head sky high. The analysis was done…

Georgia auto insurance rates driven skyward by massive crashes

November 17, 2017November 15, 2017 G. Turner

Serious car wrecks are becoming more frequent in the state, making it more costly to insure vehicles. Georgia auto insurance rates are expected to rise yet again, following several other consecutive increases. According to experts in the industry, the growing expense associated with car insurance premiums has to do with the number of serious crashes in the state. The number of accidents and the severity of the crashes are both on the rise and it is costing insurers. As a result, Georgia auto insurance companies find themselves raising their rates…

California wildfire insurance rates are heading skyward

August 22, 2016August 19, 2016 G. Turner

california wildfire insurance - Homeowners insurance reforms

In southern parts of the state, residents have been watching their premiums rise due to the fires. Dozens of Southern Californians are threatened by forest fires and at the same time as they worry for their homes, they are watching their California wildfire insurance premiums skyrocket. Many houses have already been damaged – or nearly damaged – which can be enough to affect premiums. That said, it’s important to note that wildfire insurance won’t automatically spike right away. The odds are that California wildfire insurance rates will rise. This is…

California insurance industry trends forum hears from Schwarzenegger about risk

May 12, 2016May 11, 2016 H. Cutner

Arnold Schwarzenegger California insurance industry trends

The former state governor and well known actor weighed in at the Southern California university event. Actor and former governor Arnold Schwarzenegger spoke at a California insurance industry trends forum this week in order to discuss certain central topics such as that of risk. He spoke to insurance students and professionals in the industry about what it took to play some of his most famous roles. Schwarzenegger also took the chance to use the California insurance industry trends seminar to discuss the types of risks he faced when he originally…

Insurance Information Institute reveals winter-related payouts from 2015

January 25, 2016January 24, 2016 G. Turner

homeowners insurance information institute winter snow ice

American insurers paid policyholders $2.9 billion for damage related to winter weather. The Insurance Information Institute (I.I.I.) has released its data with regards to the payments made by insurers in the United States for claims relating to winter weather, and what they’ve said is that those payouts reached a total of about $2.9 billion, last year. That said, despite those winter-related payments, the I.I.I. says insurance companies are still financially strong. Despite the payments the insurers faced in the U.S., the Insurance Information Institute explained that those companies will still…