Free Insurance Guide

Homeowners insurance rates are expected to climb considerably in 2012 after years of steady increases, according to the Insurance Information Institute. The agency said that premiums of major insurance companies like Allstate and others will likely rise above the national average premium of $1,000 for the first time in history.

Homeowners Insurance Premiums to Jump 5 Percent

The Insurance Information Institute revealed that homeowners insurance premiums will experience a significant hike during 2012. The average cost homeowners will pay for their coverage this year is expected to rise to $1,004, which is a 5 percent hike from last year.

For some states, those average insurance costs could push even higher.

Read more…

Thousands of North Carolina residents who carry homeowners insurance through Allstate Insurance are being dropped by the company for refusing to bundle their homeowners insurance policy with auto coverage, according to various media reports. Homeowners who dont agree to purchase the additional auto insurance coverage will not be allowed to renew their policies.

Bundled Homeowners Insurance Required by Dec. 15

Allstate, a property and casualty insurance company, recently informed 45,000 homeowners that they will not renew policies which are not combined with an Allstate commercial or private auto insurance policy by Dec.

Read more…

The National Mortgage Complaint Center (NMCC) is looking to hear from U.S. homeowners who have been the victims of forced-placed homeowners insurance by their bank or loan servicer. The NMCC says this is becoming a growing problem among homeowners, which is why it wants to address all complaints as soon as possible.

What is Forced-Placed Homeowners Insurance?

According to the National Mortgage Complaint Centera major watchdog for the U.S. mortgage lending industryforced-placed homeowners insurance is coverage placed on a home that is no longer occupied, likely due to a foreclosure, and vulnerable to vandalism.

Read more…

As the result of an agent selling worthless homeowners insurance policies to Florida residents, dozens of elderly are now at risk of losing their homes, the Department of Financial Services said on Thursday. Numerous complaints were filed against the agent only to reveal that she had been using money received to pay her personal expenses.

Residents Left Without Coverage

According to the department, 50 complaints were filed with the state that residents in Sarasota County had paid their insurance premiums for as long as two years to Debra K. Wanless who was supposed to be providing coverage from Lloyds of London (which is not a regulated carrier in Florida).

Read more…

Homeowners carrying State Farm insurance will find out in the next few weeks whether they are a part of 125,000 policies that the insurer plans to purge. The major homeowners insurance company originally set out to eliminate over 800,000 policies, but settled on the lower number in exchange for a higher interest rate.

Insurer to Keep 700,000 Policies

In May 2009, we reported that State Farm was to hold a meeting with Florida insurance regulators with the intention of ridding itself of hundreds of thousands of property and homeowners insurance policies.

In the negotiations, the insurer was encouraged keep the majority of its policies.

Read more…