Sales of condos in Florida have plummeted in January even as prices fall amid high costs of home insurance, according to real estate platform Redfin.
Tag: home insurance
Climate Change Has Hit Home Insurance. Is Health Insurance Next?
Climate change is making house insurance more expensive and harder to get. Health insurance could be next, as research shows extreme heat and wildfires are putting more people in the hospital.
Insurers Rake in Profits as Customers Pay Soaring Premiums
The pain for home- and auto-insurance customers is quickly becoming investors’ gain. Insurance giants’ shares and profits are hitting records, thanks in part to steep rate hikes.
The Crisis Facing Buyers of Home and Auto Insurance
For many Americans, getting insurance for both their cars and homes has gone from a routine, generally manageable expense to a do-or-die ordeal that can strain household budgets.
State Farm to Increase Homeowners Rates by 20% in California
State Farm is expected to increase its average rate for homeowner insurance policies in California by 20% this year, under a proposal approved by the Department of Insurance, records shows.
To Combat Climate Change, Builders Create Greener—and Tougher—Homes
By incorporating sustainability and resilience into home construction, developers are addressing both a cause of climate change—carbon emissions—and one of its effects—stronger storms.
Home Insurance Is So High in West Palm Beach Town, Residents Are Leaving
Florida’s explosion in insurance premiums threatens to ground the state’s highflying housing market. Florida home prices soared more than 60% since 2019, according to real-estate brokerage Redfin.
Progressive’s Q3 Earnings Beat Estimates, Premiums Rise Y/Y
The Progressive Corporation’s third-quarter 2023 earnings per share of $2.09 beat the Zacks Consensus Estimate of $1.71. The bottom line improved more than fourfold year over year.
Homeowners Flock to Last-Resort Insurance Policies
More than 30 states have some form of last-resort plan for people who can’t get coverage elsewhere. Plans can be statewide or restricted to coastal regions. Coverage varies between states, ranging from all-perils policies to those that cover wind, hail or fire only.
The Hanover Finds Homeowners Vulnerable to the Threat of Water-Related Damage
New research highlights the lack of homeowner preparedness for non-weather-related water damage, even though water damage ranks as the second most prevalent cause of insurance loss claims.