Housing Wire
JANUARY 3, 2025
The California Department of Insurance unveiled a new regulation this week that aims to increase homeowners insurance coverage in areas prone to wildfires , a response to the recent pullback in policies by several major insurers. Currently, the state has no requirements for insurers to offer coverage in these areas.
Housing Wire
NOVEMBER 7, 2024
It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Some insurers say catastrophe risk is part of the business, part of the job.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Housing Wire
DECEMBER 20, 2024
House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.
Appraisal Buzz
MARCH 14, 2025
How important is flood insurance?Homebuyers If the property is in an SFHA, lenders will require flood insurance prior to approving the loan. However, flooding is not covered by a typical homeowners insurance policy. If the delay is too long, some contracts may expire, leading buyers to renegotiate or back out of the deal.
Housing Wire
MARCH 19, 2025
While most of the insurance crisis news is focused on the impact of hurricanes and wildfires , hail is gaining ground as the repair of storm-damaged houses has grown so expensive that insurers are increasing premiums and even dropping homes to protect profits. Lopez, CEO of Your Insurance Attorney , told HousingWire.
Appraisal Buzz
MARCH 3, 2025
Property insurance costs for mortgaged single-family homes rose by a record $276 (+14%) to $2,290 in 2024 with average premiums now up 61% over the past five years. of borrowers switched insurance providers in 2024, up from 9.4% of borrowers switched insurance providers in 2024, up from 9.4%
Housing Wire
OCTOBER 21, 2024
The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. Big payouts from natural disasters are driving insurers to raise rates and pull back on coverage,” the report stated.
Expert insights. Personalized for you.
523 
Let's personalize your content