Live Insurance News

Auto insurance highest in Louisiana yet again

April 23, 2013April 30, 2013

The latest comparison of rates among the states has held the state as the most expensive, once more. According to the latest statistics from Insure, a comparison of the average auto insurance rates in March have shown that Louisiana drivers pay the highest amounts in the entire country. The next state after Louisiana in terms of the highest expense for coverage was Michigan. Louisiana drivers pay an average annual auto insurance rate of $2,699, while Michigan motorists pay an annual average of $2,520. In third place was Georgia, where the…

Insurance news from Louisiana includes loss of Farmers

February 11, 2013April 30, 2013

The insurer is withdrawing its coverage from the state, dropping all of the lines of business under its own name. A company spokesperson from Farmers has made insurance news by announcing that the insurer would be dropping its homeowners and its auto policies within Louisiana, making a complete exit from the state under its name. That said, it will still be retaining the policies that it has sold under the names of its three other brands. The insurance news being made by Farmers involves dropping the lines of business that…

States hardest hit by tornados in the U.S

March 4, 2012 Julie Campbell

The tornadoes that struck the South and Midwest American states this week, leaving 13 people dead and injuring many others, have drawn attention to the risk of twisters once again, following closely on the heels of 2011’s record breaking year for those and other severe weather events. Last year was the deadliest storm season in over three quarters of a century, and thunderstorms and tornadoes brought about approximately $25 billion in uninsured losses. Though the data regarding which states were struck most by tornadoes last year has yet to be…

Officials urge policy reviews due to predictions of an overactive hurricane season

May 31, 2011June 2, 2011 Marc

In the last two months, the southern and Midwest portions of the U.S. have been pounded by a rash of tornado outbreaks. These tornadoes have caused billions of dollars worth of damages and taken hundreds of lives. Unfortunately, they have struck areas where many of the homeowners were not insured or underinsured for the amount of damage that occurred. In the past eight weeks there have been reports of over one thousand tornadoes; 960 of those reports have been confirmed. This year, the portion of the U.S. known as “tornado…

The numbers come rolling in for recent tornado outbreak

May 10, 2011 S.Vagus

As the drama in the storm ravaged regions of the Southeast U.S. continues to unfold, AIR Worldwide, a leading catastrophe modeling firm, sheds light on exactly how much the disaster will cost in a new report release today. The firm estimates that insured losses in both the Southern and Southeastern U.S. could total $5.5 billion. The estimate is for the period between April 22nd and 28th, when the storms were at their peak. Representatives from AIR say they will continue to monitor the region to keep their estimates as accurate…

Damage from the worst tornado season in 50 years in the billions

May 5, 2011May 5, 2011 S.Vagus

As the storms of the south begin to relent, residents are beginning the long, arduous path towards recovery. Insurers have assessed the extent of the damage and are reporting insured losses could cost billions of dollars. The recovery efforts will be nothing short of massive. The National Weather System has accounted for nearly 200 tornadoes having formed during the worst of the storms – the highest number of tornadoes that has occurred in the region in over 50 years. Coupled with hail and wind storms, the damage throughout the Southeast…

Could be just the beginning as deadly storms rip through the U.S.

May 4, 2011May 15, 2013

Spring storms tore through the southern portion of the states last week leaving massive damage and loss of life in its aftermath. Virginia is no stranger to bad weather; over the last sixty years, they’ve had almost 600 tornados. But the previous storms were not like this one. Initial figures have eleven deaths total, and over 7.5 million in damages in one county. Virginia is used to getting thunderstorms and even tornados. However, most are EF1, or an EF2 and short lived. They don’t stay formed for very long and…