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Allstate ‘House & Home’ Roof Surcharge Hikes Customer Costs

Posted in Allstate , Home Insurance

February 3rd, 2012
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Allstaterecently announced a new product that will impact rates its customers pay for homeowners insurance if they want their roofs repaired. The new House & Home coverage option will no longer cover the full cost of replacing damaged roofs if they’re older than 10 years.

Mass. Home Insurance Rate Hike Called “Illegally Excessive”

Posted in Home Insurance

January 27th, 2012
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A Massachusetts home insurance association has come under fire for proposing a rate request for 150,000 consumers in the state. Massachusetts Attorney General Martha Coakley initiated accusations during her testimony before the commissioner of insurance last week, stating that the association’s request to increase premiums for the Fair Plan is “illegally excessive.”

2011: A Record Year for Disaster Losses

Posted in Home Insurance

January 17th, 2012
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Photo: USACEpublicaffairs

Bank of America and Chase Investigated for Force-Placed Homeowners Insurance

Posted in Home Insurance

January 11th, 2012
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JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Home Insurance Rates Forced Higher after Natural Disasters

Posted in Home Insurance

January 6th, 2012
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Homeowners can expect their home insurance rates to jump in 2012, says a number of insurance experts. The damage caused by the high multitude of storms seen last year has had a significant impact on property and casualty insurers.

Chinese Drywall Victims Receive Financial Compensation

Posted in Home Insurance

December 16th, 2011
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Thousands of homeowners who filed a class-action lawsuit against Chinese drywall makers could receive financial compensation under a proposed settlement reached in a Louisiana federal court. The lawsuit was filed after homeowners discovered that while defective drywall had ruined their homes, they couldn’t file claims to have the walls repaired with their home insurance providers.

FEMA Advises Texas Wildfire Survivors to Consider Flood Insurance

Posted in Home Insurance

December 14th, 2011
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While flood insurance is typically not a common concern for homeowners facing the threat of wildfires, the Federal Emergency Management Agency (FEMA) has recommended some Texas residents add this type of coverage on their to-do list. Hazard mitigation specialists with the agency say that unexpected water-related risks come with Texas wildfires, elevating the need to purchase this additional coverage.

Allstate Home and Auto Insurance: Is Bundling Policies the Best Option?

Posted in Auto Insurance , Home Insurance

December 12th, 2011
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Allstate Insurance to Drop Non-Bundled Homeowners Insurance Policies in North Carolina

Posted in Allstate , Home Insurance

November 23rd, 2011
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Thousands of North Carolina residents who carry homeowners insurance through Allstate Insurance are being dropped by the company for refusing to bundle their homeowners insurance policy with auto coverage, according to various media reports. Homeowners who don’t agree to purchase the additional auto insurance coverage will not be allowed to renew their policies.

National Flood Insurance Program Fails to See Long-Term Extension

Posted in Home Insurance

November 21st, 2011
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On Thursday evening, Congress approved a short-term extension of the National Flood Insurance Program providing it with funding for several weeks. After it had been extended for an entire year starting in Sept. 2010, lawmakers appear to have pushed the program back into the cycle of short-term extensions, leaving some to wonder when the National Flood Insurance Program will finally receive a solid, long-term extension.