It’s unclear whether Iowa lawmakers will move forward with a bill that critics say will make it more difficult for homeowners to successfully file insurance claims for damage caused by natural disasters such as the tornadoes that swept through the state on Saturday. The bill would limit the appraisal process used in disputed claims to… Continue reading Iowa Bill Would Limit Home Insurance Appraisals After Natural Disasters
Tag: homeowners insurance
It May Cost Floridians Thousands to Replace Storm-Damaged Roofs
Will your home insurance policy pay to fully replace your roof if it’s damaged in a hailstorm, a tornado, a fire, or by a falling tree branch during a summer thunderstorm? Or does your policy cover only your roof’s depreciated value, leaving you on the hook to pay thousands — perhaps tens of thousands of… Continue reading It May Cost Floridians Thousands to Replace Storm-Damaged Roofs
Washington State Insurance Commissioner Adopts Rule Banning Credit Scores
Mike Kreidler, Washington’s Insurance Commissioner, has issued a temporary rule prohibiting insurers from using credit information to set auto, homeowner, and renters insurance rates. Kreidler issued an emergency rule in March 2021 to temporarily prohibit the use of credit scores, but it was overturned by a court last year. The new rule takes effect on… Continue reading Washington State Insurance Commissioner Adopts Rule Banning Credit Scores
Closely Built Homes Help Spread Colorado Marshall Fire
Too many houses built too close together on the tinder-dry high plains between Denver and Boulder resulted in $1 billion in Marshall firestorm losses, insurance industry researchers discovered this week as they sifted through ashes and charred ruins. They were starting an investigation, similar to the work done after previous devastating fires, such as the… Continue reading Closely Built Homes Help Spread Colorado Marshall Fire
Communities Far from Flammable Forests Increasingly at Risk As Embers Flung for Miles in CO Wildfire
Boulder County Commissioner Matt Jones was driving back from photographing a winter wildfire six miles from his home when his wife called to say they were being evacuated due to the same blaze. “This can’t be happening,” Mr. Jones, who had spent years fighting wildfires, recalled thinking. “Wildfires do not strike Louisville, Colorado.” The 6,067-acre… Continue reading Communities Far from Flammable Forests Increasingly at Risk As Embers Flung for Miles in CO Wildfire
Colorado Residents, Business Owners Face Challenging Insurance Situation in the Wake of Marshall Fire
Residents and business owners who lost everything in the Marshall Fire face a daunting insurance situation in which skyrocketing property values and supply-chain shortages make it unlikely that many home or business insurance policies will cover the full cost of rebuilding. “Statewide, we’ve had all these increases in property values, and very often the policies… Continue reading Colorado Residents, Business Owners Face Challenging Insurance Situation in the Wake of Marshall Fire
New York Ends Dog Breed Discrimination for Home Insurance by Insurers
The American Society for the Prevention of Cruelty to Animals (ASPCA) recently commended New York State lawmakers and Governor Kathy Hochul for enacting critical legislation prohibiting insurance companies from using a dog’s breed in determining homeowner insurance coverage. With this new law, which takes effect 90 days after it is enacted, New York joins Nevada… Continue reading New York Ends Dog Breed Discrimination for Home Insurance by Insurers
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
CA Insurance Commissioner Bans Insurers from Dropping Homeowners in 2021 Wildfire Zones
The moratorium issued by California Commissioner Ricardo Lara requires insurers to keep these policyholders for a year and covers people who live near some of 2021’s largest wildfires, such as the KNP Complex in Sequoia National Park. Lara’s order means that moratoriums are now in effect in parts of 31 counties affected by wildfires this… Continue reading CA Insurance Commissioner Bans Insurers from Dropping Homeowners in 2021 Wildfire Zones