Property Insurance Centre

FEBRUARY 10, 2025

Whether you own an office building, a retail store, a warehouse, or a manufacturing facility, this type of coverage safeguards your physical assets, ensuring financial stability in the face of damage or loss. ” If a peril is explicitly listed in the policy, the insurer will cover the damage it causes.

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American Agents Alliance

APRIL 3, 2025

For example, the cost of repairing damaged property like vehicles and homes could increase because these items rely on imported goods, which will be more expensive after tariffs are increased. Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums. Education is often the first step.

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TGS

OCTOBER 3, 2024

TGS Insurance » Blog 10 Factors That Affect Homeowners Insurance Premiums in Florida When it comes to homeowners insurance premiums, several factors come into play, and understanding them can be the key to managing your costs. Let’s dig into the 10 factors that affect homeowners insurance premiums in Florida—and everywhere else, too.

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Insurance Journal

AUGUST 14, 2024

Like single-family homeowners in California, landlords are facing higher insurance premiums, too. And they’re passing along some of those costs to their tenants. Many insurance companies have stopped writing policies in the state because of increased wildfire risks, but that’s …

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TGS

NOVEMBER 27, 2024

TGS Insurance » Blog Affordable Home Safety Improvements to Lower Your Insurance Premiums Owning a home is a dream come true—until those monthly bills remind you of the costs involved. From utilities to maintenance to insurance premiums, it adds up quickly. And you don’t need to spend a fortune to make meaningful improvements.

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TGS

OCTOBER 25, 2024

TGS Insurance » Blog Top Reasons Your Home Insurance Premium Might Increase [2024] Owning a home is often a dream come true, but when that dreaded notice arrives in the mail—informing you that your home insurance premium has gone up—it can feel more like a nightmare. If you’re wondering why your premiums have spiked, you’re not alone.

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TGS

FEBRUARY 28, 2025

What if that charming house has a history of costly water damage, roof issues, or even fire damage? fire, water damage, theft), amount paid, and current claim status. A property with multiple water damage claims might have ongoing plumbing issues. But what if theres more to the story? Whats in a Loss History Report?

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Distinguished

MARCH 10, 2025

The policy covers the following: Direct Physical Loss or Damage : This includes accidental damage, vandalism, fire, theft, natural disasters, and other unexpected incidents. For example, a sculpture damaged during a public event or a painting harmed in transit for an exhibition would be covered with a stand-alone policy.

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Distinguished

MARCH 20, 2025

Unlike single-family homes, apartment complexes face heightened risks damage from one unit can quickly spread to others, liability claims can stem from common areas, and evolving building codes can demand costly upgrades. The court awarded her a staggering $13 million in damages.

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Distinguished

MARCH 20, 2025

Other common violations include sanitation and plumbing issues , such as leaking pipes that lead to water damage and mold growth, as well as problems with sewage and drainage systems. Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums.

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Leadsurance

NOVEMBER 19, 2024

How to Reduce Home Insurance Premiums without Compromising on Coverage Home insurance is many people’s key protector; it provides one with the needed cover once loss or damage occurs. The good news is that one can reduce home insurance premiums without necessarily sacrificing the cover that you get.

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Boyle Agency Insurance

APRIL 27, 2024

Determinants Of Homeowners Insurance Premiums Certain factors have an effect on your homeowners insurance premium. When pursuing lower premiums in Homeowners Insurance, eliminating or reducing these considerations is essential. Below we offer some factors that may affect NJ Homeowners Insurance premiums.

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Triple-I: Homeowners Insurance

FEBRUARY 13, 2025

Homeowners in Georgia’s most climate-risk-vulnerable counties , such as the coastal and most southern parts of the state, can face double-digit premium hikes or nonrenewals. Property damage liability claims per 100 insured vehicles are 15 percent higher, and relative body injury claims frequency is 60 percent higher.

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Freeway Insurance

JANUARY 3, 2025

Senate Bill 1107 , which increases minimum insurance requirements, is expected to further drive up premiums statewide. These drivers are often seen as higher risk by insurers, which can lead to higher premiums even before the 2025 hike. million uninsured drivers in the state.

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Scott Insurance

JULY 9, 2024

Water damage, one of the leading and most costly causes of property damage in the U.S., However, many homeowners are unaware of one simple solution that can prevent damage, save them money and give them peace of mind. Often, water damage inside the home is caused by leaks in the plumbing system.

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Distinguished

MARCH 6, 2025

Along with this, mold and water damage often due to leaking pipes, poor ventilation, or roof damageposes serious health hazards if not promptly repaired. Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Pest infestations are also widespread.

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TGS

NOVEMBER 12, 2024

TGS Insurance » Blog Unlocking a Smart Home Insurance Discount: How Your Gadgets Can Lower Your Premiums If you’ve recently dipped a toe into the world of smart home technology, you’re likely familiar with the benefits of convenience. A smart water leak detector can sense leaks early and alert you before significant damage occurs.

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Distinguished

MARCH 19, 2025

Mold & Water Damage are also major concerns; leaks or excessive moisture can lead to mold growth that poses health risks. Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Insurers view these violations as signs of deferred maintenance and increased risk.

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Prof. Allan Manning

MARCH 11, 2024

Emphasis mine] The reason is that without this extension of coverage the Insurer only has to reinstate that part of the property which is damaged or destroyed. I want to stress that the endorsement only applies if the Insured is forced to relocate ABANDONED UNDAMAGED PORTION OF A BUILDING.

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Wren Insurance Agency

OCTOBER 23, 2024

The reason for this may be obvious - they don't want to take on additional risk of losses tied to hurricane damage - but the specific details vary by carrier. In terms of storm damage and insurance premiums being affected, the outcome is pretty simple. The more damage, the more likely premiums will rise at renewal.

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Triple-I: Homeowners Insurance

JANUARY 20, 2025

By providing feedback to encourage safer driving habits, telematics has been found to lower risk and reduce auto premiums, empowering consumers to recognize their direct influence on their insurance rates, Kempton said.

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Distinguished

MARCH 21, 2025

Other issues include mold and water damage often due to unrepaired leaks or excessive moisturewhich can create an unhealthy environment. Structural issues including unstable porches, broken stairs, damaged roofs, or cracked wallscan compromise the safety of a building. Structural problems are also a significant concern.

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Property Insurance Centre

FEBRUARY 24, 2025

From financial losses to reputational damage, legal battles, and even the risk of shutting down, the impact can be severe. The Financial Toll of a Liability Claim A lawsuit can lead to crippling legal expenses, compensation payouts, and increased insurance premiums. Even if you win, the costs of defending yourself can be enormous.

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TGS

MARCH 4, 2025

10,000 in Property Damage Liability (PDL): Pays for damage you cause to someone elses property in an accident. This often comes with higher premiums. If you cause an accident, you could be personally responsible for thousands of dollars in damages and medical billscosts that proper insurance could have covered.

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Distinguished

FEBRUARY 10, 2025

Whats Covered The policy covers a wide range of risks for direct physical damage, including fire and theft, under an all-risk policy structure with broad coverage. Specific hazards, typically on a location basis, may be restricted, like water damage for flood-prone areas or basement and first-floor storage.

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Distinguished

FEBRUARY 24, 2025

Based on our decades of experience in this industry, here are some of the top exposures we see restaurants facing in markets like Charlotte: Fire damage: Fire is a constant risk in hot kitchens, and even a small incident could lead to heavy repair bills and a temporary closure.

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Property Insurance Centre

MARCH 11, 2025

Higher Property Values and Rebuild Costs London property prices are significantly higher than the national average, which means higher rebuild costs and, consequently, higher insurance premiums. Unoccupied flats pose risks like water damage and squatting, which insurers consider when pricing policies.

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Triple-I: Homeowners Insurance

JANUARY 13, 2025

Only 30 percent are aware of premium savings for implementing mitigation measures. Seventy percent revealed they would be willing to pay higher premiums for better protection against future severe weather events. Weather Experiences Nearly half of the participants reported damage to their homes after a severe weather event.

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Shield Insurance Agency

AUGUST 20, 2024

Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Many policyholders may be tempted to file a claim for every little incident in the belief that their insurance policy will cover all damages.

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Triple-I: Homeowners Insurance

JULY 15, 2024

Even before the pandemic, loss costs had been rising steadily for some time, leading to homeowners insurance premiums climbing consistently from 2001 to 2021, according to the Insurance Research Council (IRC). Additionally, legal system abuse, which includes false claims of damage to homes.

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Protect Commercial Insurance

OCTOBER 11, 2024

Businesses now need to consider how climate change might impact their insurance premiums and coverage. These disasters cause exponential damage to commercial properties. Just imagine: a flood sweeping through a business district, causing structural damage and interrupting operations for weeks, if not months.

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Triple-I: Homeowners Insurance

NOVEMBER 5, 2024

For residents of both communities, this news comes as no surprise; their flood-resistant infrastructure and solar panel power systems have helped them survive several storms and hurricanes with only minor damages, demonstrating the utility of disaster resilience planning. Such planning is expensive to implement. and Roseville, Calif.

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Distinguished

MARCH 17, 2025

Then we have mold and water damage , often stemming from persistent leaks and damp conditions in older buildings. Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Another common violation is pest infestations.

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Freeway Insurance

OCTOBER 8, 2023

It could be an accident, theft or storm damage, for example. Increased premiums When you make an insurance claim after an accident, especially if it is your fault or a large claim, there is a chance that your insurance company will charge you more for your insurance in the future. This is called a premium increase.

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Cover4LetProperty

JANUARY 29, 2024

Essentially, insurance is about risk and a calculation of the probability of loss or damage being suffered by the insured item or items. Risk is assessed with respect to the likelihood of loss or damage leading the insured to make a claim, since the settlement of claims paid out to the insured represent a liability for the insurer.

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TGS

OCTOBER 30, 2024

Don’t Chase the Cheapest Premium—Focus on Coverage We’ve all been there: drawn to the lowest price, only to realize it wasn’t quite the bargain we thought. Sure, the premium—the amount you pay for the policy—matters. What’s more important is what that premium gets you. That could shave a nice chunk off your premium.

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Jackson & Jackson

APRIL 26, 2024

It provides coverage for physical damage to your property and any loss of income due to business interruption. Key Coverages for California Property Investors Property Damage : Covers damage to your buildings and contents caused by fire, theft, vandalism, and natural disasters.

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