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IPFS News Link • Housing

Canceled! Are You At Risk Of Losing Your Home Insurance?

•, by Mike Shedlock


I had been working on this insurance idea for a few days. The tweet below by Adam drives the message, but only for fire insurance. I added hurricane and river flooding.

There are other flood zones along any major river or low areas. Hurricanes also cause flooding. People need wind and flood insurance in some zones. Judging from the map, some places in Florida are at risk for several reasons.

The link in the above Tweet is paywalled.

Buying Home and Auto Insurance Is Becoming Impossible

The Wall Street Journal reports Buying Home and Auto Insurance Is Becoming Impossible

After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option.

The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn't given in to its demands, which would have left those policyholders scrambling for coverage. The states blinked.

In December, New Jersey approved auto rate increases for Allstate averaging 17%, and New York, a 15% hike. Regulators in California are allowing Allstate to boost auto rates by 30%, but still haven't decided on its request for a 40% increase in home-insurance rates after the insurer refused to write new policies.