Tag: natural disaster insurance

It’s that sewer backup insurance time of year again

Marc
Sewer backup insurance - Flooded sewer

Springtime is a big reminder of why this type of additional coverage can be very worthwhile. Springtime comes with melting snow and heavy downpours while the ground is already saturated with moisture, reminding many people of the importance of sewer backup insurance for their homes and businesses. This is a common time of year for people to find that there is water on the lower level of their homes. Basements are at a particularly high risk but in some areas, where the water levels are high enough, the ground floor…

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As floodwaters rise in California, flood insurance covers few homeowners

Nordstrom
Flood insurance - Home near rising waters

Rainstorms have been soaking the state, placing property owners at risk of uncovered water damage. Throughout the entire state of California, only about 230,000 homes and other properties are covered by flood insurance policies. This coverage is not included in standard home policies, leaving Californians vulnerable. Therefore, only about 2 percent of California properties have flood insurance coverage against rising waters from storms such as those that have been soaking the state in recent weeks. For most of the properties that are covered, the federal government is the insurer. About…

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Colorado homeowners scramble to find affordable wildfire insurance

Nordstrom
Wildfire insurance - Homeowners Coverage

State lawmakers are pursuing a government-run plan for property owners to use as a last resort. Residents of Colorado are well aware of the importance of wildfire insurance, following several years of major blazes. That said, they are struggling to find the coverage they need, particularly at an affordable price. State Representative Judy Amabile (D) has seen her own neighbors and constituents struggling. “I am starting to hear some of my neighbors are not getting renewed and I would have never dreamed I was at risk of a wildfire,” said…

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Connecticut flood insurance rates rise, and fewer homes are covered

Logan B.
Flood insurance - Welcome to Connecticut Sign

Though the last 12 months have been essentially free of flooding, there have been several near misses. Even though there have been only 18 Connecticut flood insurance claims filed in the last 12 months ending at the close of June, the rates in the state will still be rising. The rates are causing many state residents to take the risk without coverage for their properties. There have been several recent reminders that storms are fierce and quite close – Hurricane Fiona washed full structures away in Nova Scotia and other…

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Louisiana home insurance coverage at risk as Atlantic hurricane season picks up

G. Turner
Louisiana home insurance - Hurricane Season

The state is facing problems that have been compared to the coverage crisis in Florida. As has been the case in Florida’s market, Louisiana home insurance struggles are leaving thousands of residents of the state wondering how to find coverage. The need is becoming particularly urgent as the US predicts a busy Atlantic hurricane season. Meteorologists have been warning that the Atlantic hurricane season will be an active on this year. With theses risks ahead, a number of Louisiana home insurance companies have withdrawn from the market, just as has…

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Lightning insurance claims were highest in these 5 states last year

G. Turner
Lightning insurance

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,…

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State Farm boosts insurance agent training and catastrophe research

Nordstrom
Insurance agent - Training

Climate change is changing the nature of natural disasters and the insurer aims to keep ahead of it. As climate change changes the nature of storm damage, and as technology continues to progress, State Farm has invested into advanced catastrophe research and insurance agent training. The insurer wants to make sure its tech and teams are prepared for current and upcoming trends. State Farm is using the additional insurance agent training and catastrophe research to help keep ahead of the impact of climate change for more rapid claim handling, quicker…

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