Tag: high risk insurance

The Hidden Costs of a DUI That Can Drain Your Wallet Over Time

Ester Adams
DUI

Driving under the influence (DUI) isn’t just a legal problem—it’s a financial nightmare. What might start as a temporary lapse in judgment can leave a lasting impact on your wallet, particularly when factoring in long-term expenses such as rising insurance premiums. Across the United States, these costs vary significantly depending on your state, but no matter where you live, the hit to your finances is substantial. Here, we’ll break down how DUIs cause insurance costs to spike, highlight alarming DUI statistics during holidays, compare these expenses to alternative options like…

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California providers start dropping their high risk insurance customers

G. Turner
High risk insurance - Wildfire in Forest

Insurers have started withdrawing coverage from the most wildfire vulnerable areas. As wildfire season heats up, insurers across California have started to drop their high risk insurance customers. Homes that are the most vulnerable to wildfire may not be able to find coverage within the state as the flames start to spread yet again this year. Liberty Mutual and other insurance companies are stepping away from the highest wildfire risks. This trend could cause a growing number of Californian homeowners to find themselves without wildfire insurance coverage for their properties.…

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Cheap homeowners insurance is risky on Alabama coasts

H. Cutner
coastal flood homeowners insurance

While these options may be out there for many property owners, many consumers are unaware of the possible shortfalls. When it comes to nearly any kind of product, including homeowners insurance policies, just because it is cheap, it doesn’t necessarily mean that it is providing a good value and it doesn’t mean that it is worth the money. This is a problem being increasingly discovered by property insurance customers in Alabama. Unfortunately, all too often, customers feel that the best opportunity in homeowners insurance is the one that will come…

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Citizens Property Insurance gets approval for rate hikes

S.Vagus
Florida homeowners insurance, Citizens Property

Florida regulators approve rate increase proposal from Citizens Property Insurance Florida Businesses and homeowners can expect to see their insurance premiums jump by at least a double-digit sum early next year. Florida’s Citizens Property Insurance has been granted approval for a rate increase that will take effect January 1, 2013. The insurer’s rate proposal was approved by the Florida Office of Insurance Regulation this week. Though there are roughly three months before the new rates take effect, policyholders are up in arms over the approval of the rate hike. Homeowners…

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Severe weather leads to over $1.2 billion in insurance losses in March

Marc

Insurance industry gets hit with huge losses for 2012. Global reinsurance intermediary, Aon Benfield, which is also responsible for the Aon plc capital advising, has released its most recent Global Catastrophe report edition, which provided an overview of the global natural disaster events of March 2012. The report was published by the catastrophe model development center of excellence for the company, Impact Forecasting. It showed that a number of serious weather events struck the Tennessee Valley, the American Midwest, and the Southeast of the country during the first week of…

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Homeowners’ insurance rates increase as a result of last year’s tornadoes

The tornadoes that struck Joplin, Missouri, and other areas in 2011 will now be increasing the homeowners insurance rates as a whole, regardless of whether or not the area was influenced by any wind storms last year. According to data from the Missouri Department of Insurance, the rates for homeowners insurance in that state will be increasing by just over 5 percent. At the same time, state insurance officials in Illinois – an area also impacted by storms last year – have yet to provide any estimates as to how…

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Tips for getting your home ready for the upcoming spring storms

The spring storms are on their way, and if there’s anything that could be learned from the record breaking natural events that occurred last year, it was that it’s very important to be prepared for their arrival. Though there’s nothing that you can do to stop the storms, there are a few precautions that you can take to give you some peace of mind when the big storm strikes. As a reminder, Spring Severe Weather Awareness Week is running from March 25 to March 30, spreading the word about the…

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