Archive | October, 2023

Fall 2023: Florida Homeowners Insurance Premium Update

24 Oct

Despite the fact that the Florida legislation finally passed a couple of bills to deal with the ever-increasing cost of homeowners insurance, it seems unlikely that premiums will start to fall anytime soon according to a report put out by Karen Clark & Company (KCC), a risk modelling firm. The recent report, titled “Managing Expectations: […]

2023: Homeowners Insurance Premium Are Going Up

12 Oct

Many homeowners have been notified lately that their homeowners insurance premium is going to be headed up. According to the Insurance Information Institute, higher insurance costs can be blamed on a variety of factors which include more expensive building materials, supply chain issues as well as continuing labor shortages.  Factors that increase home insurance costs […]

Progressive Will Not Be Renewing Some Florida Home Insurance Policies

09 Oct
Florida home insurance companies and rates

According to a recent report by WFLA News Channel 8, Progressive will not be renewing some homeowners insurance policies in Florida. A Progressive spokesperson has confirmed to WFLA that they have started regulatory filings with the state and will send out non-renewal notices to affected customers in December. The non-renewals will go into effect in […]

Nationwide Insurance Company Will Not Be Renewing policies for Homeowners in North Carolina

09 Oct

Nationwide insurance company recently informed the North Carolina Department of Insurance (NCDOI) that it will not be renewing homeowner policies for 10,525 homeowners in North Carolina. Over 1,000 of those non-renewals are in the Dare County, NC. The NCDOI claims that more the half of the non-renewals are based on the “hurricane hazard assessment tool,” […]

JD Power Study: Highlights How Insurers Have Been Leaving States

02 Oct

Recently, JD Power released a study that highlights how insurers have been leaving several states. The report looks at the potential opportunity for insurance companies that stay in these states as well as how the decision to leave certain states will impact customer perceptions of their company.  Across the nation, both homeowners and renters are […]