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Healthy competition: Ranking the 25 largest home insurers in the US - Insurify

State Farm, Allstate Insurance, and Liberty Mutual ranked among the top three home insurers in the U.S., respectively. But even with their premiums combined, they only account for 34.68% of the homeowners' insurance market. In fact, among the top 25 home insurers by market share, no single

High Premiums Keep Florida Homeowners Stuck with State’s Insurer of Last Resort | Insurify

Florida homeowners who can’t find coverage from standard insurers turn to Citizens Property Insurance Corp. for affordable home insurance. Florida’s state-created home insurer of last resort currently covers more than 1.4 million properties — making it the largest home insurer in the state by far. Citizens, however,

NEXT Insurance Set to Raise $100M+ in Late VC Funding Round | Insurify

NEXT Insurance is raising at least $100 million — and as much as $250 million — in its latest round of funding, the industry news publication The Insurer recently reported. The Palo Alto-based insurtech company last raised $250 million in a March 2021 Series E round. NEXT Insurance has raised $881

Despite recent rate hikes, California car insurance is 25% cheaper than national average | Insurify

California has the 15th-lowest auto insurance rates in the U.S., but drivers have seen significant premium hikes in 2023. After a more than two-year freeze on rate hikes due to the COVID-19 pandemic, the California Department of Insurance (CDI) approved increases for six of the state’

What to Know About California’s New Plan to Bolster Home Insurance Market | Insurify

Californians’ home insurance options shrunk significantly in 2023, with seven of the state’s 12 largest home insurance companies either limiting new business or leaving the state marketplace altogether. But the state’s governor and insurance commissioner recently took action aimed at curtailing the state’s growing insurance crisis. Advocates

Drivers Grapple With 9% Increase in Car Ownership Costs in 2023 - Insurify

In the past year, Americans have faced a 3.7% jump in food costs, a 7.4% increase in rent, and a 7.2% spike in the price of personal care products, according to the U.S. Consumer Price Index (CPI) issued by the Bureau of Labor Statistics (BLS). On

NY to End Photo Inspections for New Car Insurance Policies | Insurify

New York drivers buying a new full-coverage car insurance policy may no longer face cancellation if they fail to submit photos of their vehicles to their insurance companies within 14 days. As of May 15, 2024, the new Auto Insurance Consumer Relief Act will allow insurers to waive the