If you want to see what’s happening on the ugly side of homeowner’s insurance, Louisiana is the place to go because a lot of the ugliness came out after Hurricane Katrina. Insurers were happy to take the premiums but were a little more stingy when it came to payouts, which is totally understandable. Flood insurance [...]
As if you needed me to say so but according to Bankrate’s records, eight of the ten most expensive catastrophes, from a property and business loss perspective, were hurricanes and six of those eight occurred in the last five years! Only two of the hurricanes were from earlier, Andrew in 1992 and Hugo in 1989. [...]
I, like the author, thought that California or Florida would be tops on the list of most expensive states to purchase home insurance, but we were both wrong - Texas is the highest at an average premium of $1,238 according to the National Association of Insurance Commissioners (NAIC). Second and third on the list [...]
This is one of those cornerstone ideas when it comes to homeowner’s and renter’s insurance, will your insurance company give you the actual cash value (ACV) of a loss or will they give you the replacement cost? The two are entirely different and it’s important that you review your policy to see what you have. [...]
Did you know that hurricane and wind deductibles are typically percentages of your policy limit? It’s different than your other deductibles, which are typically flat dollar amounts, and so it would be important for you to investigate whether you want to adjust that limit. The percentages are usually in the 1 to 5% range, which [...]
Home Insurance Blog will seek to bring you the best most up to date information about renters and homeowner’s insurance. After recent catastrophic events such as Hurricane Katrina, many people have come to learn that their homeowner’s insurance didn’t cover the things they thought it would and so blog seeks to be a source of [...]