U.S. House Passes Disaster Insurance Reform

If you own a second home in a high-risk area, you have no doubt seen premium costs soaring and even the availability of insurance in question. There is finally some action in Congress to address these thorny and complex issues. Legislative battles over how to improve property and casualty insurance availability in disaster-prone areas have […]

Three Possible Ways to Keep your Second Home Insurance Reasonable

A recent story in The Record (New Jersey) stated that: “For current and potential second-home owners, making sure your property is adequately insured can be a less-than-straightforward process. Second homes can be inherently more expensive to insure, primarily for two reasons: You’re not there as much, and they are often rented out (some insurance companies […]

Insuring Second Homes

If you are second home shopping this fall, think about insurance issues as you do property tours. The recent upheaval in the mortgage markets has a corollary set of issues and complexities in the property and casualty insurance business. In the wake of the bankrupting of the National Flood Insurance Program (NFIP) by Katrina and […]

Insuring Your Vacation Home

AOL’s real estate portal has a great recent article on insuring your vacation home. Especially important is checking out what your rates are going to be before you buy. Because of Hurricane Katrina, insurance rates have soared in certain coastal areas. Unfortunately those coastal areas are just the sort of place that people are likely […]

Major Insurers stop issuing new home owner policies on U.S. East Coast

The increasing awareness of the potential impact of global climate change is nowhere more acute than in the property and casualty insurance industry. Two major insurers, Allstate and State Farm are already posing restrictions on writing new polices in some east coast states, due to historic and predicted future weather-related risks. OK, so what to […]

How Might your Vacation Insurance Rates be Affected by the ‘Katrina Effect”?

To paraphrase Ben Franklin: No person’s life or property is safe while the legislature is in session. As a result of the unprecedented losses in the Gulf Coast States, the National Flood Insurance Program (NFIP) needs a complete overhaul. For the past two legislative sessions, both houses of Congress have debated major modifications to the […]