Browsing: state

Is Colorado an affordable homeowners’ insurance state?Colorado, just like any other state, has multiple options to cover a property with homeowners’ insurance. However, there are some major differences with other states.Because Colorado is not (yet) affected much by natural disasters and it doesn’t see much damage to properties out of the ordinary, its insurance premiums are often very affordable.This is one of the reasons that most Coloradans actually have such an insurance and the coverage rate is high. This can mean either one of two things: In Colorado people earn more money, or the premiums are lower.Census statistics show, that…

What is the history between Prime Insurance Company and the State of Mississippi?The lawsuit between the homeowners’ insurance company and the state dates back to 2018. At this time, hurricane Katrina had just passed over the U.S., damaging millions of peoples’ homes and land.At that point, the insurance companies, among which was Prime, paid out millions of dollars in claims from the clients, while receiving way less in premiums. A major loss.The state, however, felt that 12 different homeowners’ insurance companies did not abide by their policies and that the companies should pay millions to the state for the cost…