Live Insurance News

Rising Non-Renewals of Home Insurance: Navigating the Wave and Preparing for Inspections

March 5, 2024October 3, 2024 Loreen

In the light of recent developments, homeowners are dealing with an uptick in non-renewals from insurance companies. This has put consumers in a rather precarious position, pushing them to become proactive in order to navigate this wave of non-renewals. It’s becoming increasingly clear that being prepared and informed is the best course of action. One of the key factors that can influence your home insurance coverage and costs is the home inspection. This critical step is aimed at identifying potential risks and ensuring that homes meet specific safety standards.…

Louisiana home insurance to see major changes, says new state commissioner

March 4, 2024March 2, 2024 Marc

As the state aims to find a way to repair its current crisis, it is making sweeping changes Louisiana residents are about to see a number of widespread changes to home insurance in the state as the new commissioner Tim Temple aims to fix the crisis in the state. Temple is determined to correct the state’s crisis “Louisiana has a very heavy-handed regulatory reputation,” said Temple. “We’re changing that.” Last week, he outlined a number of sweeping changes to the home insurance regulations in the state, making it possible for…

Illinois Residents Face New Wave of Insurance Rate Hikes

February 26, 2024February 25, 2024 G. Turner

Major Rate Hikes by Allstate and State Farm: A Financial Challenge for Illinois Motorists and Homeowners Illinois motorists are facing a financial squall as insurance giants Allstate and State Farm implement major rate hikes, signaling a challenging period ahead for policyholders. Allstate is poised to shock the market with an abrupt 12.7% increase in homeowners’ premiums this week, and State Farm follows closely, scheduling a 12.3% climb in May, as disclosed by the Chicago Tribune. However, the strain doesn’t stop there — a staggering average rise of 28% in auto…

Home insurance companies remind customers to use these tips to avoid claims

February 6, 2024February 5, 2024 Julie Campbell

Weather-related claims are high at this time of year, but insurers hope prevention will help. Though springtime is still a few weeks away, the fluctuation of weather between winter and spring trends can cause issues that lead to damage and therefore home insurance claims. With the addition of extreme weather events, this time of year can be particularly damaging. Home insurance companies have been releasing tips to customers in the hopes that a bit of prevention will go a long way in reducing the risk of damage from the types…

Decoding the Implications of State Farm’s 20% Insurance Rate Increase in California

February 1, 2024January 31, 2024 H. Cutner

state farm insurancecalfornia homeowners insurance crisis

When State Farm, a leader in the insurance industry, announced its decision to raise homeowners insurance rates in California, it echoed a growing trend of economic adaptation amid a changing environmental and financial landscape. This increase spotlights the intricate dance between insurers and the forces that dictate market stability, from the escalating severity of natural disasters to the swelling costs of home repairs and the unyielding pulse of economic inflation. As we unpack the manifold reasons behind such a significant uptick in insurance costs, we also delve into the labyrinth…

Beginner Basics: 7 Things New Homeowners Need to Know About Home Insurance

November 9, 2023 Guest Author

Most new homeowners know that purchasing a house insurance policy is a sensible decision. Those small monthly payments you barely notice coming out of your bank account can save you from financial ruin in the event of catastrophic property damage. However, some people purchase home insurance policies without doing their homework. Alongside reading the fine print provided by your insurance company, it can be worth familiarizing yourself with the following details: No Doesn’t Always Mean No Insurance providers are there to help homeowners protect their investments. Unfortunately, that doesn’t mean…

Halloween safety tips you can really use this year

October 26, 2023October 25, 2023 Nordstrom

Halloween safety - Trick or Treat Jack o lanterns

When it comes to this holiday, the key is to make sure the scary parts are all just make-believe. As the country gets ready to celebrate the spookiest time of the year, the American Property Casualty Insurance Association (APCIA) has shared a number of helpful Halloween safety tips to make sure everyone has fun without harm or property damage. The APCIA reminds drivers and property owners that a few simple steps can make all the difference. Just a few basic precautions for Halloween safety can help to prevent major accidents…