homeowners insurance News

Devastated California Town Struggles to Rebuild Amid High Home Insurance Costs

Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. After the fire, she got divorced, which left her with only half …

Southern California Wildfire That Prompted Evacuation Order Now 20% Contained

A wildfire fueled by Santa Ana winds that in southeast of Los Angeles, forcing about 4,000 people from their homes, has grown to 2,4897 acres and is now 20% contained. The Highland Fire started Monday afternoon in unincorporated Riverside County. …

Southern California Wildfire Prompts Evacuation Order for Thousands as Winds Fuel Flames

A wildfire fueled by Santa Ana winds ripped through rural land southeast of Los Angeles, forcing about 4,000 people from their homes, fire authorities said. The Highland Fire erupted at about 12:45 p.m. Monday in dry, brushy hills near the …

Report: ‘Climate-Exacerbated Wildfires’ Cost U.S. $394B-$893B Each Year

“Climate-exacerbated wildfires” cost the nation $394 billion to $893 billion each year in economic costs and damages, according to a Congressional report out this week. The range combines estimates from existing research on property damage, deaths and injuries, health impacts …

PG&E’s Plan to Bury Power Lines and Prevent California Wildfires Faces Opposition over Rates

Pacific Gas & Electric – one of the nation’s largest utilities whose equipment has sparked some of California`s deadliest wildfires – wants to bury power lines in some of its most at-risk areas to prevent destructive blazes like the 2018 …

Viewpoint: Reinsurance Solution Would Help Homeowners Exposed to Wildfires Face the Challenge

Wildfire has become an increasingly challenging threat in many Western States. With an ever-increasing frequency and intensity, this continues to pose a serious threat to lives and properties across the exposed area. Wildfires are occurring earlier in the season and …

Most Homeowners Face Barriers to Improve Resiliency, Says APCIA Survey

As personal property owners face issues related to rising frequency and severity of natural catastrophes, a survey has found many do not have money or know where to start in order to mitigate damages. The American Property Casualty Insurance Association …

Is Mar-a-Lago Worth $1 Billion? Valuations at the Core of Trump’s Fraud Trial

FORT LAUDERDALE, Fla. (AP) — How much is Donald Trump`s Mar-a-Lago worth? That`s been a point of contention after a New York judge ruled that the former president exaggerated the Florida property`s value when he said it`s worth at least …

Hawaii Electric’s Insurance is Fraction of Potential Fire Claims

Nearly two months after the deadly Maui wildfires, Hawaiian Electric Co. revealed the limited scope of insurance coverage it holds in the face of potentially billions of dollars in damage claims. Hawaiian Electric has $165 million in annual general liability …

Farmers, USAA Lead Pack in Hiking Homeowners Insurance Rates in 2023: S&P

Farmers Insurance Group of Cos. and United Services Automobile Association (USAA) have increased homeowners insurance rates by nearly 15% each to lead all other insurers. According to S&P Global Market Intelligence‘s RateWatch application, Farmers’ year-to-date calculated effective rate change on …