A new poll finds that Insurance Commissioner Lara’s plan to allow insurance companies to increase premiums for all Californians in exchange for a promise to insure homeowners in higher wildfire risk areas is opposed by a 2 to 1 margin, 62% opposed to 30% in support
Tag: homeowners insurance
Insurance Markets are Facing Strong Challenges; Strong Leadership Is Needed to Overcome: APCIA
Robert Gordon, senior vice president of policy, research and international testified today before the House Financial Services Committee’s Subcommittee on Housing and Insurance.
New APCIA Survey Shows Nearly Three-Quarters of Homeowners Face Barriers to Increasing the Resiliency of their Home
Recent high profile natural catastrophic events highlight how important mitigation and resiliency are for homeowners and business owners in protecting their property from costly natural disasters.
Farmers, USAA Boost Homeowners Insurance Rates by Double Digits in 2023
Farmers Insurance Group of Cos. and United Services Automobile Association led the pack among the largest US homeowner insurers increasing premium rates in 2023.
Progressive Insurance ‘Rebalancing’ Policies in Florida
Property owners in Florida who have Progressive insurance may have to find a new policy soon.
The Hanover Finds Homeowners Vulnerable to the Threat of Water-Related Damage
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.
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.