homeowners insurance News

Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils

Global insured losses from natural catastrophes hit US$137 billion in 2024, following the 5%-7% annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this trend continues, global insured losses will approach US$145 …

Increased Writings in Homeowners Adds to US Surplus Lines Growth

Increasing movement of homeowners insurance risk to the U.S. surplus lines market has continued to contribute to growth for nonadmitted insurers. According to a report from AM Best, surplus homeowners direct premiums written in 2023 eclipsed $2 billion for the …

Many Snowbirds Looking to Pack Up and Fly North For Good; Florida Hit Hard

The number of Canadian “snowbirds” planning to sell their second homes in sunny Florida and Arizona has surged this spring, many of them put off by the sudden chill that has blanketed relations between their homeland and the U.S. Real …

Dog Bite Claims Soar in Frequency and Cost: Report

Insurers in the U.S. paid out about $1.6 billion in dog-related injury claims in 2024, according to data compiled by the Insurance Information Institute (Triple-I) and State Farm. The number of dog bite and related injury claims last year totaled …

More Floridians Moving Out Due to Housing, Insurance Costs, Cotality Report Says

Florida’s elected leaders have long touted the “1,000 people a day” moving into the state. But that trend shows signs of slowing, with people moving out of the Sunshine State due to surging housing and property insurance costs, according to …

A ‘Low-Attention Disaster,’ Mountain Fire Survivors Recover in LA’s Shadow

The ashes of Hatim Naim’s burned home lie just a few dozen miles west of the Los Angeles areas destroyed by January’s Palisades and Eaton fires. But because the Mountain Fire, which destroyed 182 houses and other structures in Ventura …

High Cost of Living Fears Made Worse by LA Wildfire in UCLA Survey

The high cost of living remains a main concern in America’s largest exacerbated by the January 2025 wildfires is one of the biggest worries bothering residents of Los Angeles County. A survey focused on the county, the nation’s largest with …

Could Utility Gear Set Your Neighborhood on Fire? California Risk Maps Are 8 Years Old

Weeks after deadly fires swept through Los Angeles County, the state regulator in charge of overseeing utility companies declined a request that would have required California’s largest utilities to update maps showing high fire threat areas. Consumer advocates argued for …

Roof Repair and Replacement Costs Up Nearly 30% Since 2022: Verisk

Roof repair and replacement cost value totaled nearly $31 billion last year — up nearly 30% since 2022, according to a new report from Verisk. The strategic data analytics and technology provider reported that roof-related line items made up more …

Hawaii’s Kilauea Volcano Spews Fountains of Lava in Latest Eruption

Scientists were bracing for high lava fountains during the latest episode of an ongoing eruption of Hawaii’s Kilauea volcano. Lava fountains have reached heights of 1,000 feet (305 meters) during eruptive episodes in recent weeks, drawing visitors to marvel at …