For many millennials, the pandemic has been anything but an obstacle to leaving their rent-based urban lifestyle behind and settling down — and for good reasons. With plummeting interest rates, the timing to buy homes and invest in wealth-building homeownership couldn’t have been more perfect. Shelter-at-home and remote work have driven a desire for larger… Continue reading Homeownership Accelerated Among Young Millennials During the Pandemic
Tag: home insurance
PG&E Blacks Out Some Customers to Reduce California Wildfire Risks
PG&E Corp. said it was cutting off electricity Tuesday to as many as 51,000 customers in heavily forested parts of Northern California to reduce the risk that its power equipment will spark wildfires. The utility company said it began implementing so-called public safety power shut-offs Tuesday at 5 p.m. Pacific Time in small parts of… Continue reading PG&E Blacks Out Some Customers to Reduce California Wildfire Risks
Home Prices Jumped Across the U.S. in Second Quarter
Home prices surged in almost every corner of the U.S. in the second quarter as robust demand continued to overwhelm the supply of homes for sale. While the homebuying frenzy has shown signs of a slowdown in recent months, home-price growth has yet to cool. The median sales price for single-family existing homes was higher… Continue reading Home Prices Jumped Across the U.S. in Second Quarter
Premium Discounts Available for Homeowners Insurance
As the cost of homeowners insurance continues to rise across the country, particularly in catastrophe-prone areas such as the West Coast and Florida, many luxury-home owners are seeking ways to reduce their premiums. Although the cost of coverage varies widely based on many factors, such as the size of a house, its age and location,… Continue reading Premium Discounts Available for Homeowners Insurance
Ally Financial to Offer Home Insurance with Hippo Partnership
U.S. online bank Ally Financial has agreed to a partnership with home insurance provider Hippo Holdings Inc that will allow it to offer home insurance policies for the first time, the companies told Reuters. Hippo will underwrite the policies on behalf of Ally as a “fronting carrier,” while Ally will assume their risk and put… Continue reading Ally Financial to Offer Home Insurance with Hippo Partnership
Chubb Acquires StreamLabs, Maker of Smart Water Leak Detection Products
Chubb Limited today announced that it has acquired the business of StreamLabs from Australia-based Reliance Worldwide Corporation Limited (RWC). StreamLabs offers leading Internet of Things (IoT) enabled water monitoring, leak detection and water shut-off products. The addition of StreamLabs, which uses patented and proprietary ultrasonic technology to monitor waterflow and alert property owners to potential… Continue reading Chubb Acquires StreamLabs, Maker of Smart Water Leak Detection Products
Allstate Seeks More Independent Agents, But Not As ‘Human Modems’
Allstate Corp. wants to buy more independent insurance agencies this year to build the business it acquired with its purchase of National General, Allstate Chief Executive Tom Wilson told Reuters on Wednesday. But the agents will be there to talk to customers in depth, not punch data into a computer to get a quote, Wilson… Continue reading Allstate Seeks More Independent Agents, But Not As ‘Human Modems’
Hippo Partners with CAPE Analytics for Real-Time Property Intelligence
Hippo, the home insurance group that created a new standard of care and protection for homeowners, has recently announced a new integration with CAPE Analytics, which uses deep learning and geospatial imagery to provide real-time property intelligence. The integration advances Hippo’s automated property analysis capabilities to more narrowly target property characteristics and tailor policies accordingly… Continue reading Hippo Partners with CAPE Analytics for Real-Time Property Intelligence
Porch Completes $100M Homeowners of America Acquisition
Porch Group, Inc., a leading vertical software company reinventing the home services industry, successfully completed its previously announced acquisition of Homeowners of America (HOA), making Porch one of the largest Insurance Technology (InsurTech) companies. HOA is a Managing General Agent and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits… Continue reading Porch Completes $100M Homeowners of America Acquisition
Almost One-Third of the U.S. Housing Stock is Exposed to High Risk from Natural Hazards: CoreLogic Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its annual Climate Change Catastrophe Report highlighting the value of modern insurance and mortgage solutions in addressing the increase in climate change-induced hazard events and impact on the real estate economy. Most homes in the U.S. have some risk, often unbeknownst to… Continue reading Almost One-Third of the U.S. Housing Stock is Exposed to High Risk from Natural Hazards: CoreLogic Report