Browsing: News

What is the problem with home insurance in Louisiana?We all have heard of hurricane Katrina and Rita, soaring through the United States leaving a wave of destruction. But Louisiana is, in general, prone to a number of natural disasters, including hurricanes, floods, and tornadoes.The state is located on the Gulf Coast, which makes it vulnerable to hurricanes and tropical storms. The state is also low-lying, with much of the land lying below sea level, which increases the risk of flooding.Compared to other states, Louisiana has a high rate of destruction terrorizing homes and increases the need for homeowners’ insurances.Are people…

Read More

What is the current situation in California?The Golden State has taken a big hit due to the rainfall at the end of last year. Not only this the water cause mudslides, but also flooding in the streets which caused a lot of damage to homes.The area is known for floods and over the past decades, multiple areas have been announced as “high-risk” areas for flooding. This means that residents in California know the possibility of floods happening.This does not mean that floods happen everywhere all the time. But as we can see the global trend of flooding, we see them…

Read More

How much does nature influences risk on the insurance?Colorado is, like more states, tired of all the natural disasters happening in its state. Wildfires are one of the major natural causes of insurance claims in the state, covering millions of claimed tax-payer’s dollars.Currently, the state’s insurers are pulling back in the masses, denying a lot of newly requested or renewed insurances. Even fireproofing your home, does not relief you from this event happening, as Denver7 reports.What is the state going to do to make homeowners’ insurances available?Lawmakers are currently looking into the creation of plans to make premiums affordable again…

Read More

What does a ban on gas stoves mean? The CSPC, Consumer Product Safety Commission, is a federal agency that is concerned with product safety. Richard Trumka, a commissioner there, told CNN that there is a plan to ban gas stoves completely. The stoves are a problem, causing asthma and breathing difficulties in young children, according to a 2022 study. The ban would entail, that no home would be allowed to have a gas stove. This causes a lot of homes to need alternatives that are perhaps cleaner, but might not be as affordable. Of course, this ban would be a…

Read More

The situation at hand: A vague picture In California, Florida and Louisiana, the last couple of months, many homeowners’ insurers have gone bankrupt due to the mass claims during the horrible storms and weather. This brings into question how available the insurances still are and how much you can protect your home against these events. In other words: Is the climate change, affecting the availability of insurance? Of course, no insurer wants to spend too much money, because they are all about making money. So setting up shop in vulnerable areas, might be a bad idea for the larger companies…

Read More

What is happening this Christmas?The weather this year is extreme (perhaps partially due to global warming), but not in a good way. The storm front that is running across the United States brings in snowstorms, icy roads, blizzards and a whole bunch of cold. And this is not only bad for your health, but also for your house. How does a blizzard impact my home insurance? Although less common, blizzards are like floods to homeowners’ insurers. The extreme cold can cause pipes to freeze, roofs to break or even walls to get moldy.Not to mention the fact that in the…

Read More

What is a recession?A recession is a period of economic decline that is characterized by a decrease in gross domestic product (GDP) for two or more consecutive quarters (six months or more). During a recession, economic activity slows down and businesses may struggle to sell their products and services, leading to job losses and rising unemployment. The effects of a recession can be felt across an economy, as businesses struggle to remain profitable, and consumers may cut back on spending in order to save money. Governments may respond to a recession by implementing fiscal policies, such as increasing spending or…

Read More

How does the law impact my insurance?Whether it is federal or state law, the changes made to them can always impact your insurances. In this case, state lawmakers will decide over significant changes in the property insurance, and property tax relief.This can impact you property insurance in many ways, both positively and negatively. So it is important to keep up-to-date on what your lawmakers decide and where they are headed in the future.The law requires insurance companies to provide certain types of coverage, such as personal liability and fire insurance, in order to legally offer property insurance. The law also…

Read More

What do hurricanes do to my home insurance?The atlantic hurricane season, which occurs every year towards the end of the year, takes its toll on housing. Hurricanes are responsible for destroying more and more properties as the population increases.Hurricane Ian, the largest hurricane of this season, destroyed an estimate of $67 billion in privately insured properties in multiple states, RMS estimates.  What damages can a hurricane create to my home?According to the RMS report, their estimate comes from a couple seperate causes. Wind damages, including coverage leakage, storm surges and inland flooding.All these seperate damages can be insured against, of…

Read More

Table of Contents As a homeowner, you should be aware of the factors that will determine your premium before buying. John Doe Tweet Cheap Home Insurance CompaniesEvery homeowner knows that their home is probably the most expensive asset they own. Property within a home and belongings need to be safeguarded hence the need for homeowners’ insurance. Home insurance companies have different rates that depend on different factors but are within the stipulated national average.It is therefore very important that every homeowner protects their liability by finding a cheaper homeowners’ insurance policy provider. It is advisable to find a policy that…

Read More