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Earthquakes:You Can’t Predict Them, But You Can Prepare

By Max Dorfman, Research Writer, Triple-I “Neither the United States Geological Survey (USGS) nor any other scientists have accurately predicted a major earthquake,” according to a recent post in the California Residential Mitigation Program (CRMP) blog. “And scientists do not expect to be able to predict earthquakes in the future. However, USGS scientists can calculate the probability  that a…

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Homeowners Premiums Rise Faster Than Inflation; Expect This to Continue

Homeowners insurance premium rates are rising faster than inflation, S&P Global Market Intelligence data shows, and Triple-I’s chief insurance officer says they’re likely to keep climbing. From 2017 through 2020, premium rates are up 11.4 percent on average countrywide, according to S&P. Recent factors include rising material costs and supply-chain disruptions that are driving up…

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Relocated & Property Damaged by Ida? You May Be Eligible for Additional Living Expenses

Standard homeowners and renters insurance policies include additional living expenses (ALE) coverage. ALE pays the costs of living away from home—above and beyond your customary expenses— if you cannot live at home due to damage caused by an insured event that makes the home temporarily uninhabitable. What expenses are typically covered by ALE? ALE covers…

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After Ida: Stay Safe and Report Damage Quickly

“Stay informed, stay safe, and contact your insurance professional as soon as possible.” The Insurance Information Institute is working with insurers in the aftermath of Hurricane Ida to monitor property damages and assist consumers as they recover. In this video, Triple-I CEO Sean Kevelighan provides guidance for homeowners to help them ensure a smooth claims…

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Independence Day’s Summer Fun Also Carries Risks

By Loretta Worters, Vice President, Media Relations, Triple-I Independence Day is associated with fireworks displays, barbeques, and poolside parties, yet even summer fun carries risks. Here are four summertime liability risks you should be aware of and recommendations on what you can do to protect yourself: FIREWORKS: Fireworks may be a Fourth of July tradition,…

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Cost of Lightning-Caused Claims Soared Due to 2020’s U.S. Wildfires

By Loretta Worters, Vice President, Media Relations, Triple-I For the fourth consecutive year, the number of lightning-caused U.S. homeowners insurance claims decreased in 2020, even as the average value of those claims has more than doubled since 2017, according to Triple-I’s analysis of national insurance claims data.  Lightning-related homeowners insurance claim costs nationally rose dramatically…

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Bracing for Another Brutal Wildfire Season

Wildfires in California and across the West are starting earlier and ending later each year.  The ongoing drought worsened last week, with every part of the state in moderate drought or worse. After a 2020 fire season that Janet Ruiz, Triple-I’s California-based director of strategic communications, called “anything but normal,” this year’s season may be…