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Project 2025 Aims to End the National Flood Insurance Program | Insurify

Project 2025, the presidential transition plan of the Heritage Foundation, calls for the federal government to end the National Flood Insurance Program (NFIP). The program currently provides affordable flood insurance for more than 4.6 million properties in areas with high flood risk. “When flood costs exceed NFIP’s revenue,

The Hidden Cost of Insurance: Reinsurance Is Elevating Coverage Rates for Americans Everywhere | Insurify

A hidden insurance market is costing American homeowners and drivers dearly. It’s called reinsurance, and insurance companies buy this coverage to help them cover losses following catastrophic events. Yet many consumers haven’t heard of reinsurance — even if they’re indirectly paying for it. Insurance for insurers Climate catastrophes,

Texas Last-Resort Auto Insurer Set to Raise Rates 15% | Insurify

Texas drivers who get their auto insurance through the state’s insurer of last resort are going to pay more for coverage very soon. Earlier this month, Texas Insurance Commissioner Cassie Brown approved a proposal from the Texas Automobile Insurance Plan Association (TAIPA) to increase rates by 15% for passenger

Hurricane Debby’s Uninsured Losses Could Top $9.7 Billion, Report Shows | Insurify

Thousands of homeowners and businesses that suffered flood damage during Hurricane Debby in early August may be on their own to recover. A new report from climate risk analysis company First Street found that 78% of properties flooded in Debby are outside flood zones A or V. Borrowers with federally

State Farm Seeks 38% Rate Hike for California Renters Insurance | Insurify

Hundreds of California renters may soon have to find new insurance, while thousands more could face double-digit rate increases for their renters insurance. In early August, State Farm — the state’s largest insurer — asked the California Department of Insurance to approve a 38% rate increase for the company’s

‘Everything Has Gone Up’: Retirees Feel Burdened by Inflation as Home Insurance Costs Surge | Insurify

Despite their reputation as a financially privileged generation, millions of baby boomers are slipping through significant cracks in the U.S. retirement system. A new source of financial strain on retiree budgets is homeowners insurance premiums, which have skyrocketed by 20% between 2021 and 2023. Between 2024 and 2030, 30.

Mobile Home Insurer Cancels Policies in Florida | Insurify

Finding affordable insurance coverage is getting even more difficult for Florida homeowners as American Mobile Insurance Exchange (AMIE) announced it’s canceling mobile and manufactured home policies across the Sunshine State. Florida’s Office of Insurance Regulation is supervising AMIE’s runoff after the insurer cited $15 million in losses