Can a Home Insurer Drop You Due to Aerial Photos? Brace Yourself for It
Can a Home Insurer Drop You Due to Aerial Photos? Brace Yourself for It

Is your insurance company spying on you? Insurers are increasingly using technology such as drones, airplanes and even high-altitude balloons to survey homes from coast to coast. If these companies spot something they don’t like, you could lose homeowners insurance coverage. In late 2023, KGO-TV…
Why Insurance Rates for New York Property Owners Are Soaring
Why Insurance Rates for New York Property Owners Are Soaring

Logan Browne thought he already experienced sticker shock from his Bushwick condo building’s insurance rate tripling last year. Then, this summer, the insurance company dropped the building, citing a “loss ratio” that Browne, the condo board president, said related to water damage claims in 2020…
Amy Bach and United Policyholders Raise Issues About Insurance Executives Taking Monies Through Excessive Payouts
Amy Bach and United Policyholders Raise Issues About Insurance Executives Taking Monies Through Excessive Payouts

Amy Bach‘s recent LinkedIn post yesterday highlighting concerns about excessive compensation in the insurance industry has struck a chord with many policyholders and consumer advocates. Bach raised these issues in a panel discussion at the American Academy of Actuaries. Her observations are particularly pertinent to…
After hurricanes, the business of rebuilding lives means navigating the insurance claims process
After hurricanes, the business of rebuilding lives means navigating the insurance claims process

Now that the threat of Hurricanes Helene and Milton has receded, millions of homeowners and business-owners across Florida and the Southeastern U.S. are faced with traversing the often long and laborious process of using insurance to rebuild their lives. Immediately after disasters like these, property…
Why Insurance Rates for New York Property Owners Are Soaring
Why Insurance Rates for New York Property Owners Are Soaring

Policies are harder to find and costlier when they are available for homeowners who are struggling to stay above water. Logan Browne thought he already experienced sticker shock from his Bushwick condo building’s insurance rate tripling last year. Then, this summer, the insurance company dropped…
Navigating Insurance Claims After Hurricanes Helene and Milton
Navigating Insurance Claims After Hurricanes Helene and Milton

Insurance Claims After Hurricanes Helene and Milton: Quick Looks Understanding policies: Know your coverage limits, exclusions, and deductibles to determine if filing a claim is worthwhile. Documentation is key: Keep detailed records of damages, expenses, and interactions with adjusters to support your claim. Seek professional…
Homeowners hit by Hurricane Helene face the grim task of rebuilding without flood insurance
Homeowners hit by Hurricane Helene face the grim task of rebuilding without flood insurance

The Category 4 storm that first struck Florida’s Gulf Cost on September 26 has dumped trillions of gallons of water across several states, leaving a catastrophic trail of destruction that spans hundreds of miles inland A week after Hurricane Helene overwhelmed the Southeastern U.S., homeowners…
Hit by Disaster? How to Get What You Deserve From Insurers or FEMA
Hit by Disaster? How to Get What You Deserve From Insurers or FEMA

If your home was damaged or destroyed by Hurricane Helene, the most daunting challenge may still be ahead: Getting your insurance company, or the federal government, to give you the money you’re entitled to receive. That process can be infuriating and baffling, and it comes…
Hurricane Helene brought major damage, spotlighting lack of flood insurance
Hurricane Helene brought major damage, spotlighting lack of flood insurance

Kayla Ward was drinking coffee on her porch Friday afternoon when she noticed water from the nearby Nolichucky River rising fast. After nearly a year in the house in the Appalachian Mountains, Ward never thought to worry about flooding. But she and her husband had…
Think flood insurance is pricey now? Premium hikes were coming long before Hurricane Helene.
Think flood insurance is pricey now? Premium hikes were coming long before Hurricane Helene.

Homeowners insurance typically does not cover flood damage – though too many people discover that after the fact, consumer advocates say Hurricane Helene inundated parts of Florida, Georgia, Tennessee and the Carolinas, and now the estimated billions of dollars in damage are bringing Americans’ receding…
Homeowner says she needs new roof, insurer says no, just one shingle
Homeowner says she needs new roof, insurer says no, just one shingle

It started with Tropical Storm Debby back in August and more homeowners could find themselves in a similar situation after Helene. “My husband went through the house and came back and looked at me and said, ‘We got problems,’” Mary Barnes said. She says her…
New insurance insights from second series forum hosted by Center for California Real Estate
New insurance insights from second series forum hosted by Center for California Real Estate

LONG BEACH, Calif., Oct. 1, 2024 /PRNewswire/ — The California Dept. of Insurance and other industry leaders gathered last week to continue statewide conversations around insurance challenges at the forum, “Securing California’s Insurance Market: The Path Forward,” hosted by the Center for California Real Estate.…
State Farm forecasts decline in California policies over the next five years
State Farm forecasts decline in California policies over the next five years

The drop is expected to be around 1 million Insurer State Farm has stated that it was expecting to see the number of policies that it issues in California decline by 2 million by the year 2028, following the financial issues it was encountering, as…
Hurricane Helene brings more losses to struggling insurance market, but no major turmoil expected
Hurricane Helene brings more losses to struggling insurance market, but no major turmoil expected

Hurricane Helene caused the type of widespread destruction that has roiled the U.S. insurance market in recent years, pushing premiums for property insurance in the most vulnerable states, including Louisiana… Read more
State Farm projects dropping 1 million policies in California over next five years
State Farm projects dropping 1 million policies in California over next five years

State Farm is projecting that by 2028, the number of policies it issues in California will drop by 1 million, as the insurance giant grapples with financial distress and pulls back from the Golden State. According to a filing submitted to the California Department of…
Homeowners scramble after insurance company hikes rates following major disasters: ‘Doubles down on the bad news’
Homeowners scramble after insurance company hikes rates following major disasters: ‘Doubles down on the bad news’

With prices continually rising, many people cannot afford to pay for insurance, making them vulnerable to financial damage as well as the risk to life that wildfires bring. What’s happening? The Washington Post reported that Allstate has been approved to raise insurance premiums by 34%…
State Farm Expects to Shed 1M Homeowner Policies in California
State Farm Expects to Shed 1M Homeowner Policies in California

State Farm, California’s largest home insurer, expects to cut 1 million policies to stay financially solvent. The Illinois-based firm, whose trademarked jingle is “Like a good neighbor, State Farm is there,” expects it won’t be here for a third of its statewide property insurance policyholders…
How Hurricane Helene could have widespread consequences for homeowners
How Hurricane Helene could have widespread consequences for homeowners

When Hurricane Helene slammed into Florida on Thursday night, it made landfall in the state’s sparsely populated Big Bend, far from the glittering cities with expensive waterfront property to the south. But that didn’t stop Helene from becoming another multibillion-dollar superstorm. The hurricane’s massive size…