Tag: property coverage

Many families in Louisiana are reaching home insurance desperation

Logan B.
Home Insurance - Stressed at high rates

The state has reached a crisis point in its property coverage market with prices headed steadily skyward. Families affected by the hurricanes that have hit the state in many years have already been facing rapidly climbing home insurance rates, but at the same time, they’re also battling with insurers to pay for the costs they’ve paid to make their homes livable again. Insurers in the state have gone bankrupt, leaving policyholders floundering While settlements from some home insurance companies are protected through the state-backed guaranty association, the process can take…

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What is the homeowners insurance 80/20 rule everyone is talking about?

Nordstrom
Homeowners insurance - What is the 80-20 rule

It seems that everyone agrees that this is a solid strategy, but what exactly is it referring to? Trying to purchase the ideal homeowners insurance coverage can easily feel overwhelming, as there is a great deal to take into account, and most people don’t have a tremendous amount of experience in all its intricacies. The coverage is meant to protect you financially against home damage, burglaries or liability. The 80/20 rule is a strategy meant to help simplify that process and ensure that the right amount of homeowners insurance coverage…

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A homeowners insurance review is important at the start of every spring

G. Turner
Homeowners Insurance Review - Residential

Property coverage should be re-examined annually, and this season presents a good opportunity. Experts in the industry typically recommend that property owners conduct a homeowners insurance review once per year, and the spring is an ideal time to do it. The start of this season allows property owners to ensure they have adequate coverage for the year ahead. With the fresh starts that come with springtime, a homeowners insurance review can help policyholders to ensure that their coverage is still appropriate for their needs. This way, they can know that…

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North Carolina home insurance rates could rise by over 25 percent

G. Turner
North Carolina home health insurance

Insurers in the state are seeking a massive average increase to follow large hikes over recent years. If the proposals of insurers of the state are accepted, the North Carolina home insurance rates could increase by an average of 25.3 percent, representing yet another major spike in the amount that residents will need to pay in order to maintain their coverage. The amount that is being sought in terms of increases varies from one region of the state to the next. For example, the changes requested for the rates of…

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Most California homeowners lack earthquake coverage

Data from the Insurance Information Network of California has shown that less than 12 percent of homeowners within the state were protected by earthquake insurance in 2010, and that less than 10 percent of businesses had this protection. According to the California Earthquake Authority’s CEO, Glenn Pomeroy, the standard insurance coverage for homes and businesses will not provide protection against the damage resulting from a tremor. This organization is nonprofit and works to offer homeowners in California affordable earthquake insurance products. Pomeroy also stated that among homeowners without any form…

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