homeowners claims News

Auto, Homeowner Claims from Severe Midwest Weather Add Up for State Farm

State Farm said last week it had received over 6,000 homeowner claims and more than 5,000 auto claims related to severe weather that pummeled the Midwest on May 27 and 28. The company reported around 6,110 total homeowner claims — …

Weather, Wildfire Claims an Increasing Share of Home Insurance Losses

U.S homeowners insurers saw an increase in both the number of losses and the percentage of those losses that resulted from an extreme weather event during 2017. According to a LexisNexis Home Trends report, loss costs increased 19 percent from …

Connecticut Homeowners Ask Legislature for Assistance on Bad Foundations

Connecticut homeowners said they need additional financial assistance to help with crumbling home foundations that threaten to collapse their houses. Dozens of homeowners arrived in Hartford on Monday to support a bill that proposes every insurance company cover the peril …

USAA Among Backers of Home Water Damage Prevention Startup Flo

Flo Technologies has unveiled Flo, an intelligent home water monitoring and conservation system that promises to help reduce water damage insurance claims. The startup has raised a total of $11.5 million from investors led by Crosslink Capital with participation from …

Homeowners Insurance Claims, Loss Costs Declining, LexisNexis Report Finds

A study of home insurance trends reveals good news for home insurance carriers: homeowner claims continue to decrease and loss costs are flat or on the decline. The 2016 LexisNexis Home Trends Report notes that while the U.S. has already …

Number of Dog Bite Insurance Claims Falls But Average Claim Rises to $37K

The cost of dog-bite claims for U.S. insurers climbed 16 percent last year on higher medical expenses and larger settlements to resolve court disputes. The average claim increased to $37,214 in 2015 from $32,072 a year earlier, according to the …

When Dogs Bite, Home Insurers Pay Average $32,000

Max, Bella and their canine comrades cause more than one-third of all home insurance claims, adding $530 million a year to insurance costs. And while the number of claims is down, the cost of the average claim from dog bites …

Louisville Ordinance Prevents Kentucky Homeowners from Repairing Flooded Homes

Gerald and Nancy Barton are in a fix. After an April 3 storm flooded their Louisville, Ky., home, they had to tear out the floorboards and the bottom half of the wallboards. But they can’t get the permits they need …

Texas Home Insurers Seek Lawsuit Protection Despite Healthy Profits

Texas home insurers saw a third straight year of healthy profits in 2014 due to higher rates and fewer severe storms across the state. But The Dallas Morning News reports a rising tide of lawsuits filed by homeowners in recent …

Insureds Rarely Have Home Inventories Despite Benefits, Say Claims Pros

Despite big storms and wildfires highlighting the need, home inventories are rare, say insurance industry experts. A recent Allstate Insurance survey of Atlanta homeowners found that while than more than 90 percent of homeowners are concerned about protecting their homes, …