The average homeowners insurance premium was $1,249 in 2018, up by 3.1 percent from the previous year, according to the latest data from the National Association of Insurance Commissioners (NAIC). In 2017 the average premium was up 1.6 percent. To put this in context, the consumer price index, a measure of the price of goods…
Pandemic-related lockdowns have led many people to bring new furry friends into their homes. A survey from the Insurance Research Council (IRC), found that 21 percent of homeowners reported adopting a dog in 2020. Despite the increase in the number of dogs in American homes, homeowners dog bite (and related injury), claims fell overall by…
During the deep freeze across multiple states this week, some U.S. electric companies are being forced to pull the plug on consumers in the form of “rolling blackouts” to conserve energy, Insurance Information Institute’s (Triple-I) Scott Holeman reports in the video above. The severe cold has propelled The Homeowner’s Severe Cold Weather Survival Guide to…
Photo by Andre Mouton from Pexels Did you know that December 14 is international monkey day? This delightful holiday to honor everyone’s favorite simians was invented by two Michigan State art students in 2000. Suggestions for how to celebrate this holiday include donating to conservation efforts or reading to children about monkeys. Of course, here…
Superstitious people consider Friday the 13th an unlucky day. The irrational fear of the number 13 even has a scientific name: triskaidekaphobia. While Friday falls on the 13th at least once every calendar year, it can happen up to three times in the same year. Whether you believe in this unlucky day or not, if…
The 2020 Triple-I Consumer Poll found that homeowners are protecting their properties against disasters like flooding and hurricanes at a higher rate than previously reported, a welcome development as the 2020 Atlantic hurricane season got off to an early start and is expected to produce a higher-than-average number of storms. “The insurance industry’s focus on resilience…
Following a major disaster like Hurricane Laura extended power outages are common. Nearly 800,000 customers in Louisiana and Texas were without power after the storm hit. However, most electric utility companies do not offer their customers reimbursement for food spoilage caused by long-term power outages. In the areas of Louisiana and Texas affected by Hurricane…
Loretta Worters, Vice President Media Relations, Triple-I People who evacuated their residence due to Hurricane Laura may have coverage for additional living expenses under either their homeowners or renters insurance policies Additional living expenses (ALE), also known as Loss of Use, pays the additional costs of living away from home if you cannot live there…
Hurricanes and storm-related flooding are responsible for the bulk of damage from disasters in the United States, accounting for annual economic losses of about $54 billion, according to the Congressional Budget Office (CBO). These losses have been on the rise, due, in large part, to increased coastal development. More, bigger homes, more valuables inside them, more cars and infrastructure – these all…
As towns cancel fireworks celebrations because of the coronavirus pandemic, many more backyard and neighborhood fireworks displays will likely take place on July Fourth. In New York City, more than 12,500 calls were made to 911 for illegal fireworks in June alone – roughly 12 times the number of comparable calls received in the first…