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.
Tag: homeowners insurance
Best’s Special Report: U.S. Homeowners’ Segment Challenges Stress Carrier Operating Results
Elevated frequency of natural catastrophes and secondary perils in the first half of 2023 continue to drive deterioration within the U.S. homeowners insurance segment’s financial results, according to a new AM Best special report.
Home Values Could Collapse as Rising Climate Dangers Wreak Havoc on Insurance Markets, Study Says
Climate change is roiling the US home insurance market, paving the way for a massive correction in property values, a First Street Foundation study said.
U.S. Homeowners Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report
Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according to a new report from the First Street Foundation, a nonprofit that works to define and communicate risks posed by climate change.
Homeowners Take Risks to Lower Their Insurance Bills
Homeowners in search of relief from rising insurance bills are offering to pay more out of pocket in the event of fire, theft or other damage to their property.
IRC Survey Finds Support for the Use of Insurance Rating Factors
Most Americans agree U.S. insurers price personal auto and homeowners policies by using fair rating variables yet nearly half of them (47 percent) said paying for coverage was a challenge, a newly-released Insurance Research Council (IRC) survey found.
Home Insurance Prices Up 21% as Homeowners Are Left to Deal with Climate Change, Turbulent Market
As the U.S. grapples with a surge in extreme weather and natural disasters, home insurance prices are continuing to skyrocket.
Orion180 Launches Homeowners Insurance Business in Alabama and Mississippi on Admitted Basis
Orion180, a premier provider of insurance solutions launched in 2018, began issuing homeowners insurance in noncoastal areas of Alabama and Mississippi this month through its admitted insurer Orion180 Select Insurance Co.
USAA Restricts Homeowners Coverage in California
Another home insurance provider will reduce future coverage in California, as other companies have done in previous months in response to costly wildfires.
Senate Committee Hears Testimony on Property Insurance Issues
From the Maui wildfires to Hurricane Idalia hitting Florida, extreme weather events have caused severe devastation to homes and businesses this summer. On Capitol Hill, consumer and affordable housing advocates sounded the the alarm Thursday on property insurance costs and availability during a Senate Banking, Housing and Urban Affairs Committee hearing. Douglas Heller, director of insurance at the Consumer Federation… Continue reading Senate Committee Hears Testimony on Property Insurance Issues