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Largest Insurer in California – Travelers Announces Home Insurance Rates Going Up 15%

20 May
Travelers-Insurance-California

Travelers Insurance, which is one of the largest insurers in California, recently announced that they will be raising premiums by an average of 15% in the Golden State. This is just the latest rate increase or policy limitation by major insurance companies who blame the increases on spreading wildfire risks, inflation, and the cost of […]

2024 Average Homeowners Insurance Rate at $2,777 per year 

20 Feb
United,States,In,Close,Up,On,The,Map.,Focus,On

A recent report by Insurance.com, found that the average homeowners insurance rate in the U.S. came in at $2,777 per year which breaks down to $231 a month. The average was based on coverage levels of $300,000 in dwelling and liability and a $1,000 deductible. When Insurance.com ran the numbers, Oklahoma was the most expensive […]

What exactly is a FAIR Plan?

02 Jan
Fair,Value,Pricing,/,Debt,Or,Money,At,Fair,Value

If you live in an area where severe weather is common, or wildfires pop up every summer you may have trouble finding affordable home insurance coverage. If homes in your area are repeatedly damaged or destroyed by a covered peril, insurers may pull out of the entire area, refusing to write policies in your neighborhood. […]

2024 Homeowners Insurance Outlook Receives Negative Rating

21 Nov
Upset,Gloomy,Asian,Girl,With,Dark,Haircut,Frowning,Sulking,Sad,

The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

2023 – California’s recent storms – Is my home covered by insurance?

10 Jan
Santa,Cruz,,Ca,usa,On,January,05,,2023.,Santa,Cruz.,Bomb

California has recently been hit by a shocking amount of punishing winter weather that has triggered flooding as well as mudslides across vast areas of the state. The weather has led to evacuation orders as well as damaged homes. Unfortunately, for many homeowners, the damage may not be covered by their homeowners insurance.   In most […]

Homeowners Prepare for Rate Increases Later This Year

27 Jun
Aerial,View,Of,San,Clemente,,California,,Looking,Down,The,Pier

In most states, home insurance rates are headed up this year and homeowners should be prepared for further rate increases before the end of the year. According to a recent S&P Global Market Intelligence report, over 177 insurance carriers have filed requests for rate increases in 43 states, Arizona alone has seen 34 rate increase requests. […]

California Proposes Insurance Discounts for Wildfire Mitigation

21 Apr
Aerial,View,Of,The,Almeda,Wildfire,In,Southern,Oregon,Talent

Recently, the California Insurance Commissioner Ricardo Lara proposed a regulation that would not only stop insurance companies from overcharging homeowners who have done wildfire mitigation to reduce their risk of wildfires but would also require insurers to take these mitigation efforts into account when deciding on a premium or whether to insure a specific property.  […]

Getting Insurance Coverage After a Non-Renewal

21 May
Young,Couple,Organizing,Their,Bills.

In most cases, homeowners receive a renewal form from their insurance company a few months before the end of their policy term. In this case, the homeowner simply needs to review the information, sign the renewal, and send it back to sign up for another year of coverage.  Unfortunately, some homeowners receive a non-renewal notice […]