Category: Homeowner Insurance

Roof Replacement Cost Coverage May Soon Go Away

Allstate is the first company to make a major homeowner insurance coverage change.  Depreciation in the cost of roof replacement due to storm damage may soon be the norm.  Usually when one insurance company makes a major coverage change the rest follow. What this means for consumers is roof maintenance is going be the responsibility of the homeowner once again and not the insurance companies.... Read Article

Minnesota Home Insurance Rate Increases Likely to Average 22%

We first warned in March of 2010 that significant changes were coming for homeowners insurance and 2012 is the year changes will begin.  We think 22% will be the average increase in premium so many homeowners may get larger increases and reductions in coverage.  Please contact us if you receive your homeowners insurance renewal so we can help mitigate your personal homeowners insurance impact.   MINNEAPOLIS -... Read Article

Does Your Homeowners Insurance Cover Backup of Sewer & Drains???

Backup of sewer and drains... Will your homeowners insurance cover this? Fall and spring tend to be our wettest seasons making our homes most susceptible to the backup of sewer or drain lines. While these events don't occur often, when they do, the problem can be a small disaster. Did you know a standard homeowner's insurance policy excludes coverage for such an event? It's true.... Read Article

Home Insurance Replacement/Rebuild Cost. Homeowner Beware!

HOME REPLACEMENT-REBUILDING COST AND HOME MARKET VALUE ARE NOT THE SAME VALUE! Insurance companies don't care about the market value of your home.  I will restate to annoy and alarm, insurance companies don't care about the market value of your home.  Insurance companies however are very concerned with the replacement cost or rebuilding cost of your home.  Just about every homeowners insurance contract requires you... Read Article

Minnesota Homeowners Insurance Claim-Loss Problems

Minnesota was the third worst profitable homeowner’s insurance market in the nation for the decade that ended in 2008. Only Mississippi and Louisiana were worse. Insurance companies lost money in 8 of the last 10 years. What are the causes? Bad Weather: Hail Storms Wind Storms Tornados Pipe Bursting Cold Severe Snow Overall insurance carriers posted a 19.3% annual loss for the decade. In 2008... Read Article