As financial losses mount for insurance companies in Florida, many insurers are ordering more home inspections at both the beginning of a policy as well as at renewal time. Insurers are hoping to force homeowners to fix problems that may turn into a claim or to justify dumping homeowners whose property they consider risky. This […]
Florida homeowners are moving to Citizens Property, the state-backed property insurer of last resort as the private market has become economically stressed, according the president of Citizens Property Insurance Corp. Citizens President and CEO Barry Gilway warned that an “unhealthy” private market is leading to increased policies at Citizens. The majority of problems stem from […]
Florida gains about 300,000 new residents every year and 2020 has been no exception, despite the challenges of the pandemic. Unfortunately, many of those new residents, as well as longtime residents of the Sunshine State will be looking at major homeowner insurance rate increases in the coming years. Florida is on the verge of large […]
According to a recent report from the United States Geological Survey, roughly half of all Americans are at risk for earthquake damage. The data shows that 143 million Americans live and work in areas that have at least some potential for earthquake shaking that could possibly damage houses and buildings. This breaks down to 57 […]
A homeowners association (HOA) can be a major benefit to a neighborhood. They help keep the community safe and clean by maintaining all of the shared space in the area as well as by enforcing rules in the neighborhood to help protect home values. An HOA always comes with a fee and in some cases, […]
2020 is turning out to be quite a year for major storms. Named storms are forming at a record pace. Experts are predicting as many as 25 named storms to hit the Atlantic this season which is close to double the average number. Hurricane Laura has already done almost $12 billion in insured losses this […]
As school starts back up, there are many parents who have misgivings about sending their children back to in-class learning as the coronavirus virus still rages around the country. This has led many parents to start forming pandemic pods for their kids. Learning pods, which are also called pandemic pods, have become a trendy alternative to […]
Homeowners insurance is a must if you own a home. It helps protect not only the structure of your home but your contents as well. Homeowners insurance also offers protection against liability issues if someone is injured in your home. The final piece of homeowners insurance is additional living expenses (ALE), this coverage can be […]
As interest rates continue to hit new lows, many homeowners have considered refinancing their mortgage. If you fall into this category, it is best to get the process started if you want to avoid a new mortgage refinance fee that is being rolled out by Fannie Mae and Freddie Mac, the government-sponsored mortgage giants who […]
One of the biggest obstacles to purchasing a new home is coming up with a sufficient down payment. The majority of mortgage lenders require a 20 percent down payment but that can be difficult in a market with high prices. As an example, if you are looking at homes in the $400,000 range you will […]