Hippo, the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended March 31, 2022. “We’re excited by the progress reported today, achieving significant growth while delivering our best quarterly gross loss ratio since our public listing,” said Hippo co-founder and CEO Assaf Wand. “We… Continue reading Hippo Experiences 25% YoY Growth in Q1 2022
Tag: home insurance
Kansas Tornado Generated 165 Mph Winds as It Destroyed Homes
The tornado that damaged over 1,000 buildings in south-central Kansas had winds of up to 165 mph and carved a path of destruction nearly 13 miles long. The tornado that caused extensive damage Friday, mostly in the Wichita suburb of Andover, and injured several people, was rated an EF-3 on the Enhanced Fujita scale, which… Continue reading Kansas Tornado Generated 165 Mph Winds as It Destroyed Homes
As Mortgage Rates Rise, Home Prices Hit a New High in March
In March, home prices in the United States reached a new high of $375,300, as mortgage interest rates rose and a lack of available homes stymied buyers. Prices rose despite a drop in previously owned home sales in March. The National Association of Realtors reported Wednesday that existing-home sales fell 2.7 percent in March from… Continue reading As Mortgage Rates Rise, Home Prices Hit a New High in March
Could Reform of Hurricane Catastrophe Fund Help Solve Florida Insurance Crisis?
Florida lawmakers will return to the state capitol next month to address the state’s property insurance crisis, and insurance experts say one proposal could save homeowners $150 per year right away. The short-term solution entails making insurance more affordable for insurance companies. The man behind the majority of Florida insurance company ratings paints a bleak… Continue reading Could Reform of Hurricane Catastrophe Fund Help Solve Florida Insurance Crisis?
Mortgage Rates Top 4% for the First Time Since 2019
The era of ultralow mortgage rates has come to an end. According to Freddie Mac, the average 30-year fixed mortgage rate has surpassed 4% for the first time since May 2019. The average interest rate on America’s most popular home loan was 3.22 percent at the start of the year. It fell to a record… Continue reading Mortgage Rates Top 4% for the First Time Since 2019
Officials: $1 Billion in Damages After Tornadoes Tore Through Central Iowa
Seven people were killed, including two children, when several tornadoes swept through central Iowa, destroying homes and knocking down trees and power lines in the state’s deadliest storm in more than a decade, authorities said. Emergency management officials in Madison County said four were injured and six people were killed Saturday when one tornado touched… Continue reading Officials: $1 Billion in Damages After Tornadoes Tore Through Central Iowa
PG&E Responsible for Dixie Fire, California Finds
California investigators have concluded that PG&E Corp. power lines sparked a wildfire in the Sierra Nevada foothills last summer, which grew to become the state’s second-largest in history. Cal Fire officials said in a statement late Tuesday that the fire started when a tree came into contact with the company’s electrical distribution lines in the… Continue reading PG&E Responsible for Dixie Fire, California Finds
Nearly 1,000 Structures Destroyed in Colorado Fire
After a wildfire charred numerous neighborhoods in a suburban area at the base of the Rocky Mountains, a Colorado official says nearly 1,000 homes and other structures were destroyed, hundreds more were damaged, and three people are missing. Boulder County Sheriff Joe Pelle also stated on Saturday that investigators are still looking for the cause… Continue reading Nearly 1,000 Structures Destroyed in Colorado Fire
Homes in November Sold at Fastest Pace in 10 Months
Home sales in the United States increased in November, owing to low mortgage interest rates and a strong labor market. The National Association of Realtors reported Wednesday that existing-home sales increased 1.9 percent from the previous month to a seasonally adjusted annual rate of 6.46 million, the highest rate since January. November sales were down… Continue reading Homes in November Sold at Fastest Pace in 10 Months
Home Sales Set to Hit the Highest Pace Since 2006
Home sales in the United States increased in October, as buyers continued to compete for a limited number of available properties. The National Association of Realtors reported Monday that existing-home sales increased 0.8 percent from the previous month to a seasonally adjusted annual rate of 6.34 million, the highest rate since January. Sales fell 5.8… Continue reading Home Sales Set to Hit the Highest Pace Since 2006