Homeowners Insurance

Insurance Journal  Jul 31  Comment 
The Massachusetts Senate’s oversight body is launching an inquiry into homeowners insurance rate increases approved by the Division of Insurance (DOI) this year after a brutal winter led to increased claims activity. State Senator Mike Barrett...
Insurance Journal  Jul 23  Comment 
Ohio Lieutenant Governor Mary Taylor announced that average rates for the top 10 private passenger auto and homeowner’s insurance groups in Ohio increased 2.6 percent and 4.3 percent, respectively, in 2014. The average rate change for auto...
The Times of India  Jul 21  Comment 
Home insurance, the least-penetrated insurance sector in the city as well as in India, has witnessed a major spurt in demand in the last two months following a series of earthquakes from April 25. As per industry estimates, as less as 1.5% of the...
Insurance Journal  Jul 14  Comment 
Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall. The Boston Globe reports that the increases, much...
Insurance Journal  Jul 7  Comment 
A Travis County, Texas district court has granted preliminary approval of a settlement with Farmers Insurance Group that will return $84.4 million to policyholders stemming from a 2002 homeowners insurance rate case. The case stems from a 2002...
Insurance Journal  Jul 2  Comment 
Lighthouse Property Insurance Corp. (Lighthouse), with headquarters in Florida, began offering homeowners insurance and flood insurance throughout Texas on July 1. Lighthouse also provides coverage to more than 36,000 policyholders in Louisiana,...
Forbes  Jun 29  Comment 
Hartford has been losing market share in the homeowners' line of insurance, with its share declining from 1.61% in 2010 to 1.41% in 2013 to 1.35% in 2014. Major catastrophes in 2011 and 2012 hit underwriting margins for the division, with the...
Insurance Journal  Jun 23  Comment 
People with disabilities shouldn’t be turned down for homeowners insurance just because they have pit bulls for service dogs, a federal court lawsuit filed in Oregon says. Undercover testers who told an insurance company they had disabilities...
Forbes  Jun 17  Comment 
Nest has been relatively quiet since January 2014 when it was acquired by Google for $3.2 billion in cash. But Wednesday, the Palo Alto-based maker of smart gadgets, best known for its so-called "learning thermostat," held its first press...
Insurance Journal  Jun 3  Comment 
Universal Insurance Holdings Inc. announced that the Pennsylvania Insurance Department has approved the homeowners insurance rates and forms of its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), and that UPCIC...


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Understanding Homeowners Insurance

Property Protection

  • Dwelling usually covers the house, any attached structures, house fixtures, plumbing, heating, in-built air conditioning systems and electrical wiring.
  • Other Structures, other than those used for business purposes, covers detached structures like garages, storage sheds and land fixtures.
  • Personal Property covers all personal items in your home that are owned by you or family members who live with you. Protection for these items depends on actual cash value or replacement cost.
  • Loss of Use covers expenses in excess of your normal living expenses should you be forced to live anywhere other than your home during repairs or a government injunction.
  • Endorsements can be added to your homeowners insurance policy at an additional cost to provide extra protection against occurences like theft, inflation, credit card forgery etc.

Liability Protection

  • Personal Liability protects you and family members that live with you from a claim or lawsuit arising from bodily injury or property damage to others caused by an accident on your property. It generally does not provide protection for vehicle- and business-related incidents.
  • Medical Expenses, as the name indicates, pays the medical expenses for individuals who are accidently injured on your property, regardless of who is at fault for the injuries. It does not cover injuries to you or family members that live with you.
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