Tag: Uninsured homes

Nearly a Quarter of New Mexico Homes Are Uninsured, Leaving Thousands Vulnerable

Marc
Uninsured New Mexico Homes

The Alarming Statistic That Demands Attention It’s a startling revelation that raises pressing concerns for New Mexicans. According to a recent LendingTree report, New Mexico has earned the dubious distinction of being the state with the highest percentage of uninsured homes in the nation. A staggering 23.3% of homes in the state lack any insurance coverage, equating to roughly 133,340 uninsured homes out of the state’s 572,000. To put this into perspective, the national average hovers at 13.6%, making New Mexico’s unenviable position a stark outlier. For homeowners across the…

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Is It Time for an ACA-Style Transformation in the Homeowners Insurance Market?

H. Cutner
Affordable Care Act in Homeowners Insurance Market

Exploring Critical Vulnerabilities in America’s Homeowners Insurance Market Recent events, including Hurricanes Milton and Helene, have highlighted significant vulnerabilities in the U.S. homeowners insurance market. These climate-induced disasters have added pressure to insurance providers, with the sector experiencing turmoil due to the increasing frequency and severity of such events. This has raised concerns over the financial security of millions of American homeowners. Florida is among the top 10 states with the highest number of uninsured homes. Between 15% and 20% of Florida homeowners currently lack property insurance. Home insurance premiums…

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Realtors pressure Congress to reform the National Flood Insurance Program

Realtors have raised an alarm regarding flood insurance. Flood insurance is currently a major, yet little known issue in the U.S. Most homes do not have protection against flood damage and those homes that are required to have such protections as per their mortgage agreements obtain this coverage through the National Flood Insurance Program (NFIP). The federal program has been crippled by debt, however, making its future uncertain. If the program does fail, realtors from the National Association of Realtors fear that the still-fragile housing market may not survive the…

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