There are 4.7 million dog bites a year, amounting to approximately $317.2 million in claims in 2005, according to the Insurance Information Institute (iii.org); so it’s no wonder that having a dog can increase your insurance premiums, because it increases the costs to the insurer. In fact, given the list that the CDC produced about [...]
Wednesday, August 8, 2007
Homeowner’s insurance is not required by law but it may be required by your lender as a condition for lending you the funds. This makes sense though because your home is the only collateral the bank has on the loan. If your home burns down and you are unable to pay the loan, the lender [...]
Did you know that your lender will mandate that your homeowners insurance policy must not have a deductible greater than 1% of the value of the loan? This 1% maximum deductible is ridiculous when you consider the fact that the lender is covering the value of the loss, which is ultimately what the lender cares [...]
The State of Florida recently put out a website called Shop And Compare Rates where they give the general rates of several different insurance companies for a pretty standard house in Florida. They took a five year old, concrete block home with a replacement value of $150k, a $500 non-hurricane deductible, a 2% hurricane deductible, [...]
Are you in one of the coastal areas and can’t seem to find an insurer to take your business? It’s happening a lot these days given the disasters of late and the restrictions the government has placed on rate increases, so many homeowners have resorted to “insurers of last resort.” These are insurers created by [...]
According to a report released by the National Association of Insurance Commissioners, homeowners don’t realize that their insurance policies don’t cover as much as they think they do.
Floods, earthquakes, termites, mold, water-line and sewer-line breaks and several other perils, large and small, aren’t covered by a typical homeowners’ policy, the NAIC, a group of state [...]
It appears that Allstate will no longer be writing homeowners insurance policies in the state of California starting in July of 2007 in an attempt to limit their exposure to catastrophes like earthquakes, mudslides, and wildfires (Allstate no longer offered earthquake insurance). They say it has nothing to do with their request to increase premiums [...]
The real reason why most people visit this site is so that they can figure out how to reduce their homeowners insurance premiums, there isn’t much more to insurance than understanding your policy and figuring out how to get it for as cheap as possible. So, when the latest Problogger contest appeared, I figured I’d [...]
I was just talking to a friend mine who just bought a townhouse and he was telling me he got a quote of $400 per year for homeowner’s insurance from Liberty Mutual compared to my own bill of about $600 a year. Now, granted his situation is going to be different (different home, different neighborhood, [...]
One of the many terrible things coming out of the whole Katrina aftermath is the fact that so many people in the region (and other risky areas like Florida) are finding that the insurers are jacking up their premiums - forcing many to make the decision of whether to put food on the table or [...]