Free Insurance Guide

A Massachusetts home insurance association has come under fire for proposing a rate request for 150,000 consumers in the state. Massachusetts Attorney General Martha Coakley initiated accusations during her testimony before the commissioner of insurance last week, stating that the associations request to increase premiums for the Fair Plan is illegally excessive.

Mass. Hom Read more…

Homeowners can expect their home insurance rates to jump in 2012, says a number of insurance experts. The damage caused by the high multitude of storms seen last year has had a significant impact on property and casualty insurers.

Record Natural Disaster Losses in 2011

Theres no doubt that 2011 was known as the year of the natural disaster. For a while, it seemed that every few days there were reports of new storms that destroyed property and claimed lives. It wasnt everyones imagination, however, because by mid-year, there were already reports that 2011 had set a record for disaster losses.

Insured losses in the U.S. fo

Read more…

The recent damage in the Northeastern United States, caused by Hurricane Irene, taught an unfortunate lesson to many flooded homeowners. Typical home insurance policies do not cover damage caused by flooding. This caught many people by surprise.

What Your Home Insurance Doesnt Cover

To avoid surprises in the future, here is a short list of other damages that most homeowners policies also do not cover:

• Earthquakes, landslides or mudslides
• Sewer related damage
• Identity theft
• Dog bites
• Recreation equipment like swimming pools and trampolines
• Damage relating to a business you run from your home

Items with Limited Coverage

There are also items your policy may cover partially but with lower limits of coverage. Read more…

The recent damage in the Northeastern United States, caused by Hurricane Irene, taught an unfortunate lesson to many flooded homeowners. Typical home insurance policies do not cover damage caused by flooding. This caught many people by surprise.

What Your Home Insurance Doesnt Cover

To avoid surprises in the future, here is a short list of other damages that most homeowners policies also do not cover:

• Earthquakes, landslides or mudslides
• Sewer related damage
• Identity theft
• Dog bites
• Recreation equipment like swimming pools and trampolines
• Damage relating to a business you run from your home

Items with Limited Coverage

There are also items your policy may cover partially but with lower limits of coverage.

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

Read more…