Bad credit makes homeowners insurance in Washington D.C. far more expensive

Homeowners Insurance credit score
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Property owners in the district pay almost 3 times more for their coverage if they don’t have good credit. When you have poor credit, it can feel as though everything in your life is more expensive, and according to a recent data analysis, when it comes to homeowners insurance policies in Washington D.C., that is absolutely the case. D.C. is one of the most expensive places in the country to have poor credit in terms of home insurance premiums. According to an InsuranceQuotes.com survey, homeowners insurance in Washington D.C. is…

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Health insurance options to shrink in Washington D.C.

bills health insurance coverage rates

Aetna will be pulling out of the district’s health insurance exchange Those living in Washington D.C. may have fewer options through the district’s health insurance exchange next year. Aetna, one of the largest insurance providers in the United States, has begun sending letters to its customers in the district that the policies they purchased through the exchange will be terminated at the end of this year. This, of course, only affects Aenta policyholders, but it will limit the options that consumers have through D.C. Health Link. There will be less…

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D.C. health insurance exchange will be losing some options in 2016

Health Care Reform insurance exchange

Residents of Washington D.C. won’t have as much competition on the marketplace, next year. People who live in Washington D.C. will be finding that when they look over their health insurance exchange, next year, to comparison shop for plans, they won’t have quite as many options as they saw this year. There will actually be only one carrier from which to choose, which will considerably change the playing field. Because of the plummeting competition over the insurance exchange in D.C., many of the residents who will be using it will…

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Insurance fraud remains a costly issue for the insurance industry

insurance industry fraud business mobile

Fraud continues to be a thorn in the side of the insurance industry Fraud remains one of the most costly issues that faces the insurance industry today. Insurers combat fraud in many ways, but are unable to stamp out its existence entirely. While fraud has a significant impact on the financial stability of the insurance industry every year, few consumers understand how fraud affects them. Many people believe that insurance fraud is only a problem that insurance companies have to deal with, but they may be losing money alongside their…

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Insurance news made as D.C. replaces its ousted commissioner

white house insurance news

After the sudden firing of the official in the District of Columbia, a new acting commissioner has been named. Following the surprising insurance news that occurred when William P. White, the previous commissioner in Washington D.C., was ousted, a new acting commissioner has now been named. This naming has occurred only days after the firing of the previous official. White was removed from his position the day after President Obama made his announcement of the fix that was going to be put into place for the problem regarding the cancelled…

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Why are Washington homeowner’s paying higher premiums every year?

The Insurance Research Council has released a new study today, whose findings show that the cost of homeowners insurance in Washington has raised. The IRC study investigated the influence the Insurance Fair Conduct Act had on the market. The study compares the frequency of claims and trends in losses for Washington and four other states that have similar laws. Given the information, the study finds that the cost of insurance has gone up over two years, reaching the $190 million mark. “The facts are in and the bottom line is…

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