Homeowners insurance costs will soon rise to pay for rough winter

homeowners insurance information institute winter snow ice

After a particularly damaging season, the cost of ice dams and water damage is about to affect premiums. In Massachusetts, homeowners insurance customers are about to start paying an average of 9 percent more in their premiums due to the impact of the damaging winter that was experienced throughout the state. The massive amount of snow and the exceptionally cold temperatures caused an abnormally large amount of damage. The extreme weather and large number of winter storms caused a notable rise in the number of homeowners insurance claims as well…

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Texas homeowners insurance companies increase rates

Texas homeowners Insurance

The state is already the third most expensive in the country and now the prices of coverage are headed up again. Three Texas homeowners insurance companies have announced that they will be increasing the premiums that they charge for providing coverage for the properties of the residents of the state. These new and higher rates are going to be going into effect for new and renewal policies. The affected Texas homeowners insurance customers are those who have their policies with Allstate, Farmers, and State Farm. These three home insurers each…

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Homeowners insurance rates likely to spike in Alberta

homeowners insurance rates

Alberta floods cause spike in insurance rates Homeowners in Alberta, Canada, are preparing to see higher insurance rates as insurers begin to feel the financial impact caused by recent floods. The Insurance Bureau of Canada notes that insurers have been weighing the impact of floods that struck Alberta in June of this year and many have found the need to raise rates in order to mitigate the financial blow of the disaster. Those that had fallen victim to flooding will likely see their homeowners insurance rates spike in the coming…

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Property insurance rates experience “modest” increase in US

Property insurance News commercial P&C insurance

A survey has indicated that American commercial policy rates have increased just slightly. The results of a new survey that was conducted by Towers Watson & Co. has revealed that the price of commercial property insurance in the United States rose slightly during the first quarter of 2012. It also indicated that business employment practices liability and workers compensation rose during that time. The rise that was experienced in the commercial property insurance rates from the last quarter of 2012 to the first quarter of 2013 was – according to…

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Homeowners insurance rates in Florida may spike under new bill

Homeowners Insurance

Property owners could find themselves paying a great deal more should SB1770 pass. If a new Senate Bill (SB 1770) is able to pass the Florida Legislature, property owners purchasing homeowners insurance coverage through Citizens could be facing steep rates. The complex bill made its way relatively smoothly through the Senate of the state. Throughout that time, lawmakers have been hearing considerable figures regarding the costs that would be faced within the state if a large hurricane should strike. These figures included $100 billion in possible damages, over $9 billion…

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