11+ hour, 41+ min ago (397+ words) Shari Rankin says her neighbor had a dead tree and that he knew about it and also that her husband had told him about it. It fell, crushed her fence, and damaged her trampoline. Rankin says her neighbor gave them his insurance information -- Allstate -- and that she filed a claim. "And then I got a denial email saying that they weren't responsible, that he was not responsible," she said. It's not clear why. And she really didn't want to use her own insurance and have that claim on her record. "What do you do? Except call Jason Stoogenke?" she said. Stoogenke emailed Allstate, saying Rankin told him they had denied the claim. The company responded, didn't address any of that, and wrote, "We are in touch with both parties to resolve this claim according to our customer's policy." But Rankin…...

22+ hour, 3+ min ago (416+ words) Homeowners in Santa Cruz, California, are stunned after learning that their insurance rates may be skyrocketing. Five years after the devastating CZU fires, homeowners have struggled to insure their homes, according to Lookout Santa Cruz. Numerous families had their homes burned down in the blazes, and their insurers dropped them after paying out their claims. Many enrolled in the FAIR Plan, which is California's last-resort fire insurance policy funded by a pool of private insurers. However, the plan is less comprehensive and more expensive than typical commercial insurance policies. Now, the FAIR Plan has proposed new premiums, with an average increase of 35.8%. One couple, Tony and Mary Madden, told Lookout that their old policy with Farmers was $2,000 per month. After getting dropped, they switched to the FAIR Plan with additional insurance and paid $14,900 monthly. "I was sick to my stomach,…...

1+ day, 21+ hour ago (1144+ words) Like many homeowners, when my husband and I opened our home insurance renewal email recently, our jaws dropped. The annual premium to insure our home in Aurora, Colorado, was nearly doubling " from about $5,600 to almost $10,000. This would also push our monthly mortgage payment up by several hundred dollars. Confused and reeling, we called our insurance agent for an explanation. The agent told us that claim costs were up about 60% to 80% in our area in recent years, so premiums were going up to account for it. I also spied a new addition to our policy: Instead of a flat $1,000 wind/hail deductible as we've had for the past 12 years, we were now on the hook for a 1% deductible of the total dwelling coverage amount, or nearly $8,000. A double whammy. After 12 years with our insurer, we decided to shop around and switch…...

4+ day, 7+ hour ago (350+ words) Minnesota homeowners face rising insurance bills and higher deductibles. Wind and hail damage deductibles are increasing significantly. Homeowners are urged to shop around and weatherproof homes for potential discounts. MINNEAPOLIS (FOX 9) - Many Minnesota homeowners are experiencing a double whammy with their insurance bills, as both premiums and deductibles for wind and hail damage are on the rise. Homeowners in Minnesota are seeing their insurance premiums increase as much as 40%, with deductibles for wind and hail damage also rising significantly. In some cases, deductibles have jumped from $1,500 to $5,000. In others, it changed from a fixed deductible to a percentage of the home's value. The rising costs are largely attributed to changing weather patterns and increased claims, as explained by Julia Dreier from the Minnesota Department of Commerce. She noted that the industry has faced challenging years, leading to higher costs. State…...

5+ day, 7+ hour ago (54+ words) They had good coverage from a reputable insurer. So, why does a Middletown couple have a leaky roof three years after the storm? The I-Team investigates. They had good coverage from a reputable insurer. So, why does a Middletown couple have a leaky roof three years after the storm? The I-Team investigates....

5+ day, 20+ hour ago (64+ words) We're sorting through new findings on the insurance market here in Florida that is revealing that homeowners in the Sunshine State are paying some of the highest insurance premiums in the nation. We're sorting through new findings on the insurance market here in Florida that is revealing that homeowners in the Sunshine State are paying some of the highest insurance premiums in the nation....

5+ day, 22+ hour ago (48+ words) Insurance expert Karl Susman spoke to CBS LA's Kristine Lazar about how you can handle insurance claims due to rain damage to your home. Insurance expert Karl Susman spoke to CBS LA's Kristine Lazar about how you can handle insurance claims due to rain damage to your home....

1+ week, 16+ hour ago (605+ words) This is the most probable scenario where the liability portion of your renters insurance policy provides essential relief. While liability claims present the largest financial threat, the Thanksgiving holiday introduces several other common property risks that your renters insurance is designed to manage. One of the most traditional holiday hazards is a cooking-related fire. Grease fires, burning candles left unattended, or mechanical appliance failure are real dangers. If your furniture, electronics, or clothing are damaged or destroyed by a covered loss, such as a fire, your personal property coverage will compensate you. Scope of Coverage: This covers your belongings against "named perils," such as fire, smoke, theft, and vandalism. Note that your landlord's policy covers only the building and not your personal belongings, which are your financial responsibility alone. The Valuation Method: Make sure to look over your policy to…...

1+ week, 1+ day ago (429+ words) Extreme weather has been increasing globally as the world overheats, but certain areas are more severely affected than others. For example, coastal states like California and Florida are more prone to destructive storms. Illinois is not one of the most vulnerable parts of the United States " but that has not stopped insurer State Farm from raising its rates 27% this year, prompting outrage from local politicians, Politico reported. State Farm provides roughly a third of homeowners' insurance policies in Illinois, making it the state's largest property insurer. In August, it announced rate hikes averaging 27% for its policyholders. While State Farm blamed the increases on inflation and natural disasters, Governor JB Pritzker had a different theory. He called the price hike "unfair," according to Politico, said that the insurer's projected losses were "entirely inconsistent" with the state's own calculations, and accused State…...

1+ week, 3+ day ago (479+ words) A growing number of extreme weather events and natural disasters have pushed insurance markets to the brink, potentially impacting millions of homeowners across the United States. Politico Pro reported on an insurance crisis that has impacted several states, most notably California. An increased risk of wildfires and other severe weather events has caused some private insurance companies to raise their rates to levels that are unsustainable for many people, or to leave states completely. In 2023, State Farm announced it would no longer offer new homeowner's insurance policies in California because of the increased risk of fire and other disasters. To counter this, California created a state-chartered insurance plan called the FAIR Plan, which uses policy premiums to pay out claims when needed. The number of policies under the FAIR Plan, however, has nearly doubled, and its total liability is nearly…...