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insurance

Home Insurance Rates Set to Jump 10% for Texans on State’s FAIR Plan | Insurify

Texans who get their homeowners insurance through the state’s insurer of last resort will see their premiums increase this year. Texas Commissioner of Insurance Cassie Brown’s office approved a 10% increase for the Texas’s Fair Access to Insurance Requirements (FAIR) Plan. The rate increase will take effect

Relief in Sight? 9 Home Insurers Cut Rates in Florida | Insurify

Florida homeowners who’ve been struggling with the volatile insurance market may be seeing a light at the end of the tunnel. So far this year, nine homeowners insurance companies have filed for rate decreases in Florida, and 10 have filed to keep their rates unchanged in 2024, according to

Does Homeowners Insurance Cover Fourth of July Fireworks Damage? | Insurify

Fireworks caused an estimated 12,264 fires in 2021, including 2,082 structure fires and 316 vehicle fires, according to the National Fire Protection Association (NFPA). Despite the risks, Americans love setting off fireworks. Consumers spent $2.2 billion on 246.5 million pounds of fireworks in 2023, the American

Nearly 33M Coastal Homes at Risk From ‘Very Active’ Hurricane Season, Report Says | Insurify

Hurricane season is here, and more than 32.7 million homes on the U.S. Gulf and East Coasts are at risk from hurricane damage. If the almost unimaginable happened and all sustained catastrophic damage, it would cost nearly $11 trillion to rebuild them, according to a new report by

Drone Footage of Roofs Isn’t Enough to Justify Dropping Home Policies, PA Regulators Say | Insurify

Pennsylvania insurance regulators recently reminded insurers that aerial imagery isn’t sufficient evidence for canceling or non-renewing home insurance policies. The Pennsylvania Insurance Department (PID) received multiple complaints from consumers who said home insurers cited drone footage of roofs to cancel or non-renew policies. But the department found

Maryland Increases Fines for Uninsured Drivers | Insurify

Maryland drivers will soon face steep penalties for driving without the state’s minimum required auto insurance. As of July 1, a 30-day lapse in coverage will cost drivers $200. Each additional day a driver goes without insurance will cost another $7 — up to $3,500. “These new laws

Wildfire Risks Spark Insurance Woes for Utility Companies | Insurify

Homeowners aren’t the only ones facing high insurance rates and difficulty finding coverage because of wildfires. Power companies are also feeling the heat. Utilities in states affected by wildfires are struggling to find affordable insurance — if they can find it at all, according to Bloomberg. “The trouble comes after