What does home insurance have to do with the pandemic? Nearly two years into navigating life with COVID-19, Canadians are feeling the impact everywhere—including their insurance policies. We’ve all spent more time at home as a result of the pandemic, with each new wave of the virus necessitating a variety of restrictions and lifestyle changes. Canadians have also been working from home in record numbers, with some individuals making the move away from the office permanent. All of that extra time in our houses has led to an unexpected consequence for some families. The Ontario Fire Marshal recently reported that house fires were up by 50% in January 2022, compared to the same period in 2021...
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Your home is likely your single largest investment and asset. When looking for insurance coverage you want to be sure that you have a package that offers the best protection. Price is often a significant factor that determines which insurance package you choose and too often people look for the cheapest home insurance coverage for their home insurance. At Billyard Insurance Group, our brokers understand that price is an important part of your decision making process, and will shop around with the most trusted insurance companies in Ontario to find the cheapest home insurance coverage for the protection you need. In this blog we look at the different factors that determine the cost of your...
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Finding Homeowners Insurance in San Diego, California San Diego homeowners know better than anyone – the city is a haven rich with culture, amazing food, and history. With 70 miles of idyllic beaches, La Jolla Cove, the historic Gaslamp District, and Balboa Park, there’s a bounty of beauty to explore. But part of living in San Diego means preparing for the unexpected. Between earthquakes and wildfires, San Diego homeowners need insurance that can keep up. Learn about our California home insurance, what it covers, and how much it costs. Spoiler: we’re 21 percent cheaper in San Diego than some of our better known competitors. Los Angeles Home Insurance Costs On average, San Diego home...
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The type of insurance Greater protection means a higher cost, so a buildings and contents policy will cost more than buildings only. You might find it cheaper to buy a combined policy than to buy your buildings and contents insurance from different providers. Previous claims If you’ve made a claim before, insurers are likely to view you as a higher risk of claiming again compared to someone who has no previous claims. How you pay Paying annually is cheaper than paying monthly. Paying monthly is a loan, with interest added to repayments, which makes it more expensive. Location Your postcode helps insurers judge how susceptible your home is to vandalism, burglary, subsidence, heave or floods...
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So, today's fantastically low mortgage rates have inspired you to go house shopping or refinance your mortgage? Rates are at or near all-time lows, according the latest surveys from the Mortgage Bankers Association and mortgage giant Freddie Mac. A low rate is great, but when you take out a home loan — whether you're buying or refinancing — there are costs you may not be expecting. Fortunately for you, they're all manageable. Here's a look at four expenses mortgage borrowers often don't think about, and some tips on practical ways to cover those costs. 1. The price of the loan A low-rate mortgage will save you money, but the act of getting one will cost you. When you close on any home loan...
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No matter where you are in the home buying journey, we bet you’re at least a little familiar with homeowners insurance. Buying a house is no picnic, and getting homeowners insurance is a must — for peace of mind as a homebuyer, but also for meeting your mortgage lenders’ requirements. You might also be wondering how much homeowners insurance actually costs. It’s a great question, especially if you only have experience renting. Homeowners insurance is different from renters. Think of it this way: you now own your own walls, so naturally, a homeowners insurance policy will cost more than a renters. But don’t get too worked up about the cost of your insurance yet. The final price of...
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How much is homeowners insurance? It's a question with answers that are going to vary for each homeowner, depending on the size, age, and condition of the home, as well as the deductible and liability coverage. But know this: No matter how safe and secure you feel in your home, it's a fact of life that bad things can happen at any time—floods, fires, sinkholes, theft. And that's why buying home insurance is a must. But how much does homeowners insurance cost? The average annual premium runs about $952, but a bunch of unique factors can go into calculating a specific quote, and that information could help you get a lower home insurance rate in some cases. Got it? Let's look at the things...
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That nasty hole in your fence from a downed tree may make you cringe, but it won’t be nearly as revolting as the hike in your insurance bill if you make a claim on it. That’s particularly true if you live in states like Minnesota, Connecticut and Maryland, where a single homeowner’s claim can up an annual premium some 20%. That’s right, a $1,000 claim can lead to years of higher premiums. “Many consumers mistakenly believe that incidentals should be covered because that’s why I have home insurance,” says Laura Adams, senior insurance analyst at InsuranceQuotes.com. “The reality is that filing a claim is not always in your best interest.” Let’s put it this way: If you live in Minnesota and...
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AUSTIN — Home insurers have raised their premiums an average 7 percent to 8 percent this year, despite healthy profits and below-average property losses, new filings with the state show. Leading the way is State Farm Insurance, which had the highest or second-highest premiums of 33 companies selling coverage in several Dallas-area ZIP codes where rates were examined by The Dallas Morning News. State Farm, the largest property insurer in Texas, is charging those rates even as it refunds $352 million to its customers for past overcharges, under a settlement with the state. The rate hikes in 2015 are slightly less than last year. But the average increases are large when stacked up against the...
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You likely can't get a mortgage to buy a home without home insurance, so you might as well know how much home insurance costs - and know how you can get the best deal on homeowners insurance. Average home insurance costs vary from state to state (as home insurance rates are set in the state where the house stands.) Home insurance rates in the U.S. vary widely, from a low of $337 annually in Hawaii to $3,575 in Florida, According to a 2018 study by Insurance.com. Rounding the average insurance premium out, Value Penguin pegs the average homeowners insurance policy premium at $1,083 a year.Additionally, the average payment made by insurance companies in the U.S....
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