Rising repair costs & natural disasters making US home insurance less affordable: IRC

A combination of both the growing frequency and severity of natural disasters, along with rising home repair costs and other economic factors, have contributed to less affordable homeowners insurance, according to a brief from the Insurance Research Council (IRC).

The IRC, an affiliate of The Institutes, a provider of risk management and insurance knowledge solutions, measures affordability with the ratio of average homeowners insurance expenditures to median household income.

In 2020, the most recent year for which this data was available, this ratio sat at 1.93 percent, which means that US households are said to have spent an average of

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Starting A Home Renovation? Don’t Ignore These Key Insurance Risks

More homeowners have been renovating their homes instead of buying due to housing prices. While continuing to build equity in your home can be advantageous financially, navigating a construction project isn’t easy. And when something goes wrong, many homeowners are surprised to learn of gaps in their insurance coverage or their contractor’s. Before starting a home renovation project, take steps to help ensure you’re covered against these potential risks.

Addressing insurance risks before starting a home remodeling project

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Insurance coverage And Building Projects

home repair contractorsTEN NEW YEAR’S RESOLUTIONS FOR CONTRACTORS IN 2017. Randy, I have a soft spot in the plywood in the hallway/galley region of my Winnebago Minnie. With the front seats removed I can see the front wall panel of the camper has some rot at the bottom but it appears far more like it was from speak to with the floor than from water coming down. The case particularly notes that the contractor tried to argue for leniency due to 1) the economy and 2) that he had a right to make a living. Some people – primarily farmers – wish … Read more

Insurance coverage And Construction Projects

home repair contractorsTEN NEW YEAR’S RESOLUTIONS FOR CONTRACTORS IN 2017. Now, the truth that a true older model S-10 longbed is uncommon could perform in your favor if you can locate a purchaser, since I’m pretty confident that not a lot of producers make a difficult tonneau cover for that bed. A a lot more detailed, step-by-step post is in the functions, to show you how to move a bin by totally tearing it down into separate elements, to be moved on a trailer. We’ve hired at least two of the worst contractors in the Boston location, had to threaten to sue … Read more