Millions of American homeowners are living without a safety net. According to a new study by LendingTree, nearly 1 in 7 owner-occupied homes across the United States — an estimated 11.3 million properties — are uninsured.
Tag: homeowners
Utah Bill Seeks to Reduce High Home Insurance Costs by Redefining Wildfire Risk Zones
Utah’s proposed HB 48 aims to redefine wildfire risk zones with state-specific mapping, offering homeowners a chance for fairer insurance rates and improved wildfire safety measures.
Few Have Flood Insurance to Help Recover from Devastating Midwest Storms
As the Midwest begins to recover, many won’t have flood insurance, which must be purchased separately from homeowners insurance.
U.S. Insurance Personal Auto Recovering, Homeowners’ Volatility Continues
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024 amid signs that the previous surge in claims severity from higher inflation and supply chain shortages has subsided, combined with rapid written premium growth from large rate increases, Fitch Ratings says.
Triple-I Stresses Preparedness for ‘Very Active’ 2024 Atlantic Hurricane Season
The start of what is forecast to be a “very active” 2024 Atlantic hurricane season is just four weeks away and the Insurance Information Institute (Triple-I) is recommending homeowners, condo owners, renters and business owners prepare now.
Conifer Moves Commercial Lines to MGA Model, Exits Oklahoma Homeowners Line
Conifer Holdings Inc. is moving to managing general agency business model for its commercial lines business, as it moves its catastrophe-hit Oklahoma homeowners business into runoff, said its chief executive officer.
U.S. Treasury Drops Plan to Collect Insurer Data on Climate Risks
The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort with state insurance regulators.
Nationwide Won’t Renew 10,000+ Homeowners Policies in Eastern NC
Nationwide’s decision to not renew 10,525 homeowners’ insurance policies in Eastern North Carolina could be a warning sign for the state’s insurance market, an expert told The News & Observer.
U.S. Property Catastrophe Reinsurance Rates Rise Up to 50% on July 1: Report
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a report on Monday, with states such as California and Florida increasingly hit by wildfires and hurricanes.
Florida Homeowners Face New 1% Assessment Fee Amid Property Insurance Crisis
Florida homeowners can expect to see another spike in their insurance premiums as more insurers fail or leave the state.