New developments in the flood insurance market add to an already unpredictable climate, but in a positive way. Staggering rate increases from the National Flood Insurance Plan (NFIP) have actually opened new doors for private insurance companies to step in, saving homeowners tens of thousands of dollars.
An uproar in North Carolina about insurance company filings for large homeowners insurance rate increases continues as citizens await insurance commissioner Wayne Goodwin’s ruling on the matter. The insurance industry requested rate hikes averaging 25 percent statewide, just six months after a 7 percent increase went into effect.
Recent bouts of extreme cold weather in several parts of the country have many homeowners filing homeowners insurance claims, due to pipe damage or accidental fires. The risk of frozen pipes in a home runs high during this unusually cold winter season. Even occupied homes with adequate heating can suffer from this type of water [...]
Each year, the National Association of Insurance Commissioners (NAIC) releases statistics on average homeowners insurance rates from the previous two years. In its latest “2011 Homeowners Insurance Report,” the NAIC reveal surprising changes to the average home insurance rates across the nation.
With some homeowners facing sharp increases in flood insurance premiums from the Biggert-Waters Insurance Reform Act of 2012, which went into effect Oct. 2013, Congress is working to find affordable solutions for homeowners in coastal areas.
For those who live in a natural disaster area where home insurance is common, you know all about the difficulties in finding the most comprehensive plan to protect your home in relation to pricing. Home insurance, because it covers so much more than just your property, can be extremely expensive. But no matter where you live, a good home insurance policy should be a necessity. Learn more about the different types of home insurance and how you can start saving today!
No matter if you're looking for a new home insurance provider or you need coverage for your first home, you should be aware of the potential disadvantages of certain policies as well as how you can save money on options you don't really need. Here are some commonly asked questions regarding home insurance. Educate yourself and find real protection for your home and family.