The National Insurance Crime Bureau (NICB) reported less than 1 million vehicles were stolen in 2024 – a drop below the one million mark for the first time since 2021 and the largest decrease in stolen vehicles in the last 40 years. The 2024 figure is a 16.7 percent decrease from 2023.
Deductibles have been an essential part of the insurance contract for many years. Understanding the role deductibles play when insuring a vehicle or home is integral to getting the most out of your insurance policy.
Convective storms result from warm, moist air rising from the earth, and depending on atmospheric conditions, may develop into tornadoes, hail, thunderstorms with lightning, or straight-line winds. Convective storms are the most common and damaging natural catastrophes in the United States, according to Triple-I’s May 2020 white paper, Severe convective storms: Evolving risks call for innovation to reduce costs, drive resilience.
The average homeowners insurance premium rose by 7.6 percent in 2021 from 2020, according to a December 2023 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium fell by 1.7 percent in 2021 marking the seventh consecutive annual decline.
The countrywide average auto insurance expenditure increased 6.1 percent to $1,127 in 2022 from $1,062 in 2021, according to the National Association of Insurance Commissioners. In 2022 (the latest data available), the average expenditure was highest in Florida ($1,625), followed by Louisiana ($1,558), and New York ($1,549).
After a disaster, you want to get back to normal as soon as possible, and your insurance company wants that too! You may get multiple checks from your insurer as you make temporary repairs, permanent repairs and replace damaged belongings. Here's what you need to know about claims payments.
If disaster strikes, you'll want enough homeowners insurance to rebuild the structure of your home, to help replace your belongings, to defray costs if you're unable to live in your home and to protect your financial assets in the event of liability to others. Use these guidelines to help determine the coverage and amounts you need.