Homeowners may see an increase in their homeowners insurance premiums this year. In October 2021, S&P Global Market Intelligence reported a 3% to 30% rate hike in insurance premiums across major home insurance providers, with State Farm having the most significant rate increase. The report also found that Texas saw the most significant increase in homeowners insurance […]
2021’s Extreme Weather Leads to Insurers’ Biggest Payout in 10 Years
Insurers will have to pay out the largest amount of compensation in 10 years to cover the damage caused by natural disasters in the first half of 2021, including extreme freezing temperatures in the US, according to an industry report. Global natural disaster insured losses, the amount insurers are forecast to pay out, will be as […]
Soaring US Solar Insurance Costs Turn Spotlight on Site Protection
US solar developers are bearing the brunt of climate change as more frequent extreme weather events hike insurance costs. Hail storms, tornados and wildfires have pushed up insurance premiums for solar projects, impacted the scope of policies and reduced availability. Property and casualty insurance premiums for solar plants have increased by as much as 400% […]
Water Damage in Your Home
Water damage is the leading cause of property-related losses for homeowners, according to Chubb claims data. A recent Travelers report revealed similar findings. After analyzing eight years of claims data, the insurer found that 20% of homeowners claims were attributable to non-weather water issues including plumbing, sewer or appliance leaks and failures – making non-weather […]
Flooding: Know Your Risk
What Flooding is an overflowing of water onto land that is normally dry. Floods can happen during heavy rains, when ocean waves come on shore, when snow melts too fast, or when dams or levees break. Flooding may happen with only a few inches of water, or it may cover a house to the rooftop. […]
Winter Tire Tips
Do You Need Winter Tires? You know it’s coming. Snow and slush. Freezing rain. Maybe even black ice. But do you know if your tires are ready for all of that? When driving in Ohio, in the wintertime, your tires just might be the most important safety feature on your car. The right ones can […]
Fall Driving Safety Tips
Happy Fall! Last week was the beginning of Fall and with that comes the onset of the change of seasons. With this change, you should also expect a change in driving conditions. We’re here to help with several tips to make you aware of the dangers of fall driving. Fall Driving Hazards Poor Visibility: Falling […]