Homeowner's insurance is regulated by state governments, so the issues facing one person may be different than those facing someone in another state. This is one reason why the Insurance Information Institute has added a state-by-state selection of PDF files to its website at iii.org, that provide many of the facts and figures related to insurance that you need to know.
Do you know what a hard market is? In the insurance industry, a hard market is considered a seller's market, meaning that insurance is both expensive and in short supply. This can happen for any number of reasons. Since not every company is licensed to provide insurance in every state, your area will have a certain number of options to choose from. The fewer options there are could lead to a hard market because an insurer might not offer the policy you want or they might be limiting the number of plans they offer in your area.
So do you live in a hard market? Are you about to move into one? Once you know what is going on in your market you can get started shopping for homeowner's insurance.
|Sheri Ann Richerson|