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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. Obtaining home insurance in California has been a longstanding issue. While California law does not require homeowners to have fire insurance, most mortgage lenders do. It certainly is not going to drive costs down.

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Revolutionized financing: How Zillow empowers home shoppers with innovative tools

Housing Wire

Potential homeowners should be able to handle this confusion in a world where technology and digital tools rule customer service. The lender offers innovative tools and technology to make the home buying process more accessible, transparent, and personalized. Fortunately, home buying doesn’t have to remain confusing for new buyers.

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Property Insurance Costs Rise at a Record Rate

Appraisal Buzz

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%

Insurance 360
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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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New tech startup Finaya adds insurance quote comparison tool to offerings

Housing Wire

A freshly minted tech startup based in Palo Alto, California, and Seattle believes it has a solution for homeowners looking for insurance. Finaya is adding a marketplace for assessing and comparing home insurance offerings. Homeowners can choose from standalone home insurance or a bundle of insurance options.

Insurance 459
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State Farm makes strategic investment in Proof’s digital verification tools

Housing Wire

The capital infusion will reportedly go toward bolstering fraud prevention efforts and improving security in insurance and other industries. Fraud prevention has become a critical concern in insurance and financial services, with businesses increasingly turning to secure digital verification tools.

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A growing Fannie Mae “blacklist” is paralyzing home sales

Housing Wire

Many condos are being added to a “blacklist” by Fannie Mae due to the properties not having enough insurance or needing major repairs. Insurance premium crises across the country in places like California , Texas and Florida are exacerbating the costs associated with locking in coverage.

Insurance 334