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Higher insurance premiums are a shoo-in after the LA wildfires

Housing Wire

The looming impacts on real estate and insurance are also at the forefront of Californians minds. “We’ve got clients calling us frantically looking for leases. Obtaining home insurance in California has been a longstanding issue. It certainly is not going to drive costs down. Who’s bearing the risk?

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Uncertainty surrounds insurance pricing after wildfires

Housing Wire

As wildfires continue to ravage the LA area a week after starting, the impact on insurance premiums and costs to rebuild are still very uncertain. SW: Insurance costs are expected to rise in the aftermath of these fires. What are you predicting in terms of insurance pricing in the area?

Insurance 368
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What to expect in 2025: Securing customer insurance in a volatile real estate market

Housing Wire

Rising personal home insurance rates, fueled by escalating claims costs, increasing property values and the growing frequency of natural disasters, will all have a profound impact on market dynamics and homeowners insurance costs. In the first half of 2024 alone, insured losses hit $62 billion , 70% above the 10-year average.

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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

Housing Wire

“In line with guidelines from our lending partners and other entities that own or insure mortgages, NAF will offer forbearance assistance to customers whose homes are uninhabitable or who cannot work due to the wildfires,” the company told RMD in a statement. Reach out to your clients, he said.

Insurance 397
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CertifID expands insurance coverage on wire transfers

Housing Wire

With home sale prices continuing to rise, wire fraud prevention firm CertifID announced Thursday that it is increasing its direct, first-party insurance coverage maximum to $2 million. This means that up to $2 million of a wire transfer verified by CertifID can receive direct, first-party insurance coverage.

Insurance 482
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Valon partners with VIU by HUB on instant home insurance quotes

Housing Wire

Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs. Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from licensed agents.

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Louisiana’s housing market has an insurance problem

Housing Wire

We have an insurance problem,” said Charlotte Johnson , a Keller Williams agent based in Mandeville. Our insurance is pricing people out of their homes.” Between 2018 and 2023, homeowners insurance rates in Louisiana jumped 24.9%, according to an analysis by S&P Global. From 2022 to 2023 alone, rates jumped 21.2%.

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