Latest news with #insurancecompanies
Yahoo
2 days ago
- Business
- Yahoo
These 9 States Have the Cheapest Home Insurance — but Are They Affordable To Live In?
Home insurance prices are up across the U.S. as insurance companies both try to recoup incredible losses from the last few years and brace for more losses as climate-related disasters intensify. Recent research by Insurify found that there is no state where home insurance prices are not going up in 2025. Find Out: Read Next: How much home insurance rates are rising and how high they'll go depends entirely on your location. All states bear exposure to extreme weather events and the perils of climate change, but some states are less vulnerable to date than others. Home insurance prices in these states are going up less aggressively. But are the nine states with the cheapest home insurance rates (based on 2024 costs) affordable to live in? To find out, we found the average cost of a home in each state, along with the cost of housing, as compared to the national average. New Jersey 2024 average annual home insurance premium: $1,674 2025 projected average annual home insurance premium: $1,773 Cost of housing, as compared to the national average: 44% higher Average home value in 2025: $569,314 Learn More: West Virginia 2024 average annual home insurance premium: $1,656 2025 projected average annual home insurance premium: $1,744 Cost of housing, as compared to the national average: 27% lower Average home value in 2025: $169,928 Maine 2024 average annual home insurance premium: $1,641 2025 projected average annual home insurance premium: $1,688 Cost of housing, as compared to the national average: 1.2% lower Average home value in 2025: $416,948 Oregon 2024 average annual home insurance premium: $1,617 2025 projected average annual home insurance premium: $1,807 Cost of housing, as compared to the national average: 39% higher Average home value in 2025: $507,256 Delaware 2024 average annual home insurance premium: $1,607 2025 projected average annual home insurance premium: $1,693 Cost of housing, as compared to the national average: 5% lower Average home value in 2025: $405,948 New Hampshire 2024 average annual home insurance premium: $1,556 2025 projected average annual home insurance premium: $1,608 Cost of housing, as compared to the national average: 24.6% higher Average home value in 2025: $507,081 Hawaii 2024 average annual home insurance premium: $1,548 2025 projected average annual home insurance premium: $1,808 Cost of housing, as compared to the national average: 206% higher Average home value in 2025: $833,984 Alaska 2024 average annual home insurance premium: $1,470 2025 projected average annual home insurance premium: $1,543 Cost of housing, as compared to the national average: 28% higher Average home value in 2025: $377,447 Vermont 2024 average annual home insurance premium: $1,209 2025 projected average annual home insurance premium: $1,248 Cost of housing, as compared to the national average: 27% higher Average home value in 2025: $403,432 More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 8 Common Mistakes Retirees Make With Their Social Security Checks 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on These 9 States Have the Cheapest Home Insurance — but Are They Affordable To Live In? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 days ago
- Business
- Forbes
China Market Update: Health Care Surges On Hengrui-GSK Deal, Market Cheers US-EU Trade Agreement
CLN Asian equities were mostly higher overnight as Vietnam and Indonesia outperformed while Japan and India underperformed. Hong Kong and Mainland China were both higher overnight on high volumes as health care stocks outperformed, while internet and technology stocks were mixed. China's markets celebrated the announcement of a trade agreement between the US and EU involving 15% tariffs on US-bound goods from the trade bloc. The announcement led to speculation and reports that the US and China will either reach a deal in the coming days, or extend the current state-of-affairs, and deal deadline, by another three months. The China Securities Regulatory Commission (CSRC) held its mid-year work conference. The main takeaway from the work conference release was a continued focus on guiding more savings into the stock market. This follows recent reforms to pensions in China, which would make it easier for beneficiaries to direct investments into stocks and/or mutual funds and ETFs. China's industrial profits in June, reported over the weekend, were down -4.3% from June 2024. While a decline, it is a reversal from the -9.1% decline in May. Exports continue to be volatile, after they came roaring back on the confirmation of exemptions from the US in May. A trade deal is likely to bolster profits at China's industrial firms. Insurance companies surged on the lowering of interest rates for life insurance policies, which is expected to bring in significantly more customers for such policies. China is probably one of the only places globally where the cost of capital is still falling. Interest rates have hit rock-bottom as the yield on the 10-year China government bond continues at a low 1.7%. Could we have a reflation trade in China? Markets have rebounded this year, but is China's interest rate and inflation cycle being factored in? Anyway, it is very much out of sync with the rest of the world. Jiangsu Hengrui Pharmaceuticals gained +24.54% after signing a licensing deal with GSK, permitting the British drug maker to sell 11 treatments developed by Hengrui outside of China. This follows the trend of more and more out-licensing deals, i.e. deals to sell China-developed drugs outside of China. In 2024, there were 70 such deals, up from only 2 in 2017. After China's drug development capabilities matured, it did not take long for the country to benefit from, among other comparative advantages, clinical trial data from an extremely large sample size. New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart2 Chart1 Chart3 Chart4 Chart5 Chart6
CBC
5 days ago
- Business
- CBC
New data reveals Jasper wildfire insured losses just under $1.3 billion
New data shows the insured losses from last year's wildfire in Jasper, Alta., are now an estimated $1.3 billion. This is an $80-million increase from the six-month estimate made earlier this year. The July 24, 2024, wildfire destroyed much of the town, and it has yet to see major reconstruction.
Yahoo
12-07-2025
- Business
- Yahoo
Experts raise red flags over concerning new trend in housing market: 'Disparities are projected to grow'
As flood risks rise and coverage dries up, experts warn that the housing market in the United Kingdom may be heading for troubled waters. According to Bayes Business School's Real Estate Research Center studied how flood risk and income levels affect home insurance. It found that low-income residents in flood-prone neighborhoods face an average annual loss from flooding that is 3.7% higher than that of wealthier neighbors. "These disparities are projected to grow to 4.4% by 2050, and low-income people have less capacity to relocate — increasing the likelihood of many becoming climate prisoners stuck in deteriorating, uninsurable homes," wrote the researchers. When insurance companies determine that a property's risk is too high, they may increase costs significantly or stop offering coverage altogether. More than 4 million homes across the U.K. fall into medium- or high-risk flood zones. Many are in regions like the Thames Estuary, southwest England, and parts of Yorkshire. For people who can't afford to move, these changes could force them to live in damaged homes without insurance support or the ability to relocate. The root cause of this problem is the burning of oil, coal, and gas. The resulting harmful carbon pollution warms the planet, which increases the severity of rainfall, flash floods, and coastal flooding. The risk to homes is rising alongside global temperatures. Bayes researchers recommend extending or replacing the U.K.'s joint government and insurance program, Flood Re, before it expires in 2039. This safety net helps cover high-risk properties. Without a replacement, millions could face a sudden loss of coverage and financial strain. The center is also working with insurers, mortgage lenders, and climate data companies to improve how risk is measured and priced. Better data can help homeowners understand their risks and can guide smarter policy decisions. Across the U.K. and beyond, governments are exploring similar solutions. Efforts such as community-based resilience funding or modernizing their homes to reduce their carbon footprint are just a few ways people can contribute. Do you think America is in a housing crisis? Definitely Not sure No way Only in some cities Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Associated Press
09-07-2025
- Business
- Associated Press
What flood insurance does and does not cover
SEATTLE (AP) — Though natural disasters cycle across seasons and regions in the U.S., it's often a shocking discovery for property owners how expansive and expensive flood and water damage can be when a major storm devastates their homes, businesses and communities. That's because oftentimes insurance doesn't cover what the policyholder thinks it does — or thinks it should. The disappointing surprise is that while the standard home insurance policy does cover fire and wind damage, even good property insurance typically doesn't cover things like flooding and earthquakes, which usually require a special and separate policy for each. Here are the things to know about flood insurance. Who has flood insurance Most people who have flood insurance are required to have it. Although many property owners have the option of purchasing flood insurance, it is mandated for government-backed mortgages that sit in areas that the Federal Emergency Management Agency deems highest risk. Many banks require it in high-risk zones, too. But most private insurance companies don't carry flood insurance, leaving the National Flood Insurance Program run by FEMA as the primary provider. Congress created the federal flood insurance program more than 50 years ago when many private insurers stopped offering policies in high-risk areas. FEMA's Flood Map Service Center has an online tool to check your area. FEMA notes even a 1% chance of flooding is considered high risk because it amounts to a 1-in-4 chance of flooding over the life of a 30-year mortgage. Who doesn't have flood insurance Homeowners in high-risk areas who should have it sometimes decide not to get it. Someone who pays off their mortgage can drop their flood insurance once it's not required. Or if they purchase a house or mobile home with cash, they may not opt for it at all. The rest of us are just rolling the dice, even though experts have long warned that flooding can happen just about anywhere because flood damage isn't just water surging and seeping into the land — it's also water from banks, as well as mudflow and torrential rains. Mark Friedlander, spokesman for the Insurance Information Institute, an industry group, said only about 6% of U.S. households have a flood policy — primarily in the costal areas prone to hurricanes. That rate has remained steady in recent years despite the increasing frequency of severe flooding events, including in areas that are not formally considered by the government to be high risk. 'Lack of flood coverage is the largest insurance gap across the country,' Friedlander said in an email. 'Ninety percent of U.S. natural disasters involve flooding and flooding can occur just about anywhere it rains.' What flood insurance covers Even if a homeowner does have flood insurance, the coverage may not be enough to make a policyholder whole again. FEMA's National Flood Insurance Program only covers up to $250,000 for single-family homes and $100,000 for contents. Renters can get up to $100,000 for contents, and commercial flood insurance will cover up to $500,000. There are concerns that such flooding coverage limits are not robust enough, especially at a time when climate change is making strong hurricanes even stronger and making storms in general wetter, slower and more prone to intensifying rapidly. And what typically happens to the people without flood insurance in a major storm is that they can try to recover some money from their standard home insurance but may end up in a fight to determine what damage is or isn't wind versus rain, or even 'wind-driven rain.' Don Hornstein, an insurance law expert at the University of North Carolina, said the line between wind and water is a thin but very clear line that technical experts can determine. Should there be a proverbial tie, the law favors the insurance company. 'If the house was simultaneously destroyed by flood and, concurrently (by) wind, it's not covered by private insurance,' Hornstein said.
