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Insurance claims from winter tornadoes that slammed several states in the Midwest and Southern regions last week are expected to reach as much as $2 billion, according to a report released by risk-modeling firm Eqecat Inc. In the wake of the massive devastation caused by the storms, its important for those with homeowners insurance to understand the process of filing home insurance claims.

Tornado Insurance Claims Higher than Average

As noted in Eqecats report, the massive damage caused by the more than 150 tornadoes hitting states like Tennessee, Kentucky, Missouri, Indiana, Illinois and Alabama from Feb.

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Individuals filing home insurance claims may have to watch how many they file to avoid being charged higher costs down the line, according to a new CBS Denver report. The report found that the amount of damage on a claim had less to do with premium increases than the number of times a homeowner files a claim.

Home Insurance Customers File Claims Every 8 Years

According to the report, the average homeowner files a claim every eight years. Staying at this average rate of filing insurance claims makes coverage more affordable.

Most insurance companies look at the number of times a person files a claim to determine whether they are considered a high-risk customer or not.

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Individuals filing home insurance claims may have to watch how many they file to avoid being charged higher costs down the line, according to a new CBS Denver report. The report found that the amount of damage on a claim had less to do with premium increases than the number of times a homeowner files a claim.

Home Insurance Customers File Claims Every 8 Years

According to the report, the average homeowner files a claim every eight years. Staying at this average rate of filing insurance claims makes coverage more affordable.

Most insurance companies look at the number of times a person files a claim to determine whether they are considered a high-risk customer or not.

Read more…

A new report from the Insurance Information Institute (I.I.I.) revealed that dog bites represented more than one third of home insurance claims in 2010. Despite this high number of claims, the I.I.I. found that dog bites remained relatively consistent with those in the year prior.

Nearly $413 Million Paid in Liability Claims

According to the I.I.I., nearly $413 million was paid out in home insurance claims as a result of dog bites. While the total claims payouts were slightly higher than in 2009, the number of dog bites claims decreased to 15,770 in 2010 from 16,586 a year prior.

Some reasons for the rise in claims payouts despite the decrease in claims made were increases in medical costs, the size of settlements, judgments and jury awards to plaintiffs.

Learn More during National Dog Bite Prevention Week, May 15-21

The I.I.I. rep

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A new report from the Insurance Information Institute (I.I.I.) revealed that dog bites represented more than one third of home insurance claims in 2010. Despite this high number of claims, the I.I.I. found that dog bites remained relatively consistent with those in the year prior.

Nearly $413 Million Paid in Liability Claims

According to the I.I.I., nearly $413 million was paid out in home insurance claims as a result of dog bites. While the total claims payouts were slightly higher than in 2009, the number of dog bites claims decreased to 15,770 in 2010 from 16,586 a year prior.

Some reasons for the rise in claims payouts despite the decrease in claims made were increases in medical costs, the size of settlements, judgments and jury awards to plaintiffs.

Learn More during National Dog Bite Prevention Week, May 15-21

The I.I.I. rep

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