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1 week ago | 
bankrate.com | Chantal Roberts |Amelia Buckley
“It’s nothing more than a way for companies to screw you out of money.”“It’s a scam.”“It’s legalized extortion.”Those are direct quotes from my students — students who work as apprentices at insurance companies. Every semester, in week one of my risk management and insurance course, I ask what they think of insurance. I can’t even publish some of the responses from students who don’t work in the industry. Many policyholders would probably agree.
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2 weeks ago | 
bankrate.com | Natalie Todoroff |Amelia Buckley
Like a good neighbor, State Farm is still there in California. However, homes in Golden State neighborhoods will see higher insurance bills. On May 13, State Farm was given the green light to raise homeowners insurance premiums by 17 percent. Renters and condo insurance were approved for a 15 percent hike, while rental owners policies were approved to increase by 38 percent. Policyholders can expect these new rates to go into effect upon renewals on or after June 1.
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4 weeks ago | 
bankrate.com | Chantal Roberts |Amelia Buckley
What is an Expert Contributor? At Bankrate, we believe in providing our audience with trustworthy and actionable personal finance coverage. Our exclusive Expert Contributor Program includes industry experts who directly share their knowledge and perspectives, empowering you to make informed financial decisions.
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1 month ago | 
bankrate.com | Natalie Todoroff |Amelia Buckley
Ana Staples is a good driver: she’s defensive behind the wheel, hasn’t been in an accident and has no tickets on her record. But when her auto insurance policy renewed, she was hit with a 50 percent rate increase. Her monthly car insurance payment ballooned from $100 to $150. “My car was paid off, my driving record squeaky clean and my annual mileage low,” says Staples.
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1 month ago | 
bankrate.com | Amelia Buckley
An increase in prices for construction materials will raise the replacement cost of insured homes Tariffs will add an estimated nearly $11,000 to the cost of building a home Most imports of construction materials in the U.S. come from China, Mexico and Canada, the nations that currently have some of the highest tariffs Increasing costs for construction, appliances and other household items stemming from new tariffs on imported goods threaten to raise home insurance premiums by making it more...
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1 month ago | 
bankrate.com | Shannon Martin |Amelia Buckley
When it comes to car insurance claims, people often think of vehicle repairs following an accident, but your liability insurance also covers medical bills for others you injure in a car accident — which can add up quickly and often exceed the cost of even a totaled vehicle. From emergency room visits to physical therapy, costs associated with medical care after car accidents are on the rise, and insurers are adjusting rates accordingly.
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1 month ago | 
bankrate.com | Kathleen Howley |Amelia Buckley
Eloy Carmenate, a real estate agent in Florida for over three decades, remembers a time when getting a home insurance policy before buying a property was more of an afterthought than the challenge it can be now. “It’s always been a requirement to have insurance if you are getting a mortgage, but it wasn’t the big deal it’s become in the last few years,” says Carmenate, an agent with The Corcoran Group in Miami Beach.
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1 month ago | 
bankrate.com | R.E. Hawley |Amelia Buckley
The cost of car insurance has been a problem in Michigan for years. In the heart of America’s auto industry, premiums soar over those in neighboring states. Michiganders pay 63 percent more for car insurance than Wisconsinites, 82 percent more than Hoosiers and 96 percent more than Ohioans as of January 2025. Five years ago, the state’s legislature set its sights on fixing the problem with the passage of Senate Bill No. 1, a sweeping reform of Michigan’s auto insurance laws.
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1 month ago | 
bankrate.com | R.E. Hawley |Amelia Buckley
Underinsured motorist coverage, or UIM, may be one of the least understood types of car insurance, but it’s increasingly important in an era of rising rates and precarious driving. Rising prices can easily leave drivers underinsured — sometimes unknowingly — and this key coverage gives drivers a way to recover their losses if they’re in an accident with an at-fault driver who doesn’t have enough insurance to cover the damages. What is underinsured motorist coverage?
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1 month ago | 
bankrate.com | Shannon Martin |Amelia Buckley
Surplus lines insurance can provide coverage for homes that are uninsurable in the standard market. E&S insurance must be purchased through a licensed surplus lines broker. Since surplus lines insurance is not state-regulated, homeowners should pay special attention to the terms and conditions of their policy. Rates for surplus insurance are typically much higher than traditional policies due to less regulation, increased exposure to loss and smaller risk pool.
