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Home Insurance Home insurance is a type of property insurance that covers losses and damages to an individual's house and to assets in the home. Home insurance provides financial protection against disasters. It also provides liability coverage against accidents in the home or on the property. There are a variety of types of home insurance, including fire insurance, flood insurance, earthquake insurance and more. Homeowners should make sure they understand the coverage provided by each type of insurance and compare policies to find the best coverage for their needs.
The price of home insurance premiums is rising as insurers grapple with a spike in claims and increasing repair costs.During 2022, these premiums fell to their lowest-ever level, due to competition and a regulatory ban on charging old customers more than new ones.But now home insurance costs are on the rise again. The average premium for
America's biggest home insurance company has announced it will no longer insure houses in California, saying that the risk from wildfires was too great and the cost of rebuilding too high. State Farm, the nation's biggest car and home insurer by premium volume, said existing customers would not be affected.But from Saturday, no new home insurance policies