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Homeownersinsurance

All articles tagged with #homeownersinsurance

real-estate3 hours ago•2 min saved

FHFA Rule Tweaks Target Lower Home Insurance Costs for Buyers and Condos

The FHFA is updating Fannie Mae and Freddie Mac rules to lower homeowners’ insurance bills by allowing Actual Cash Value (ACV) roof coverage on single-family homes and condos, simplifying the maximum per-unit deductible, and scrapping a 2024 clarification. The changes are aimed at making mortgages more affordable—especially for condo owners and rural buyers—while preserving full replacement-cost protection for the rest of the home.

via FHFA (.gov)|

#actualcashvalue #fanniemae #freddiemac

business-and-finance2 years ago•1 min saved

"State Farm to Hike Home Insurance Rates by 20% in California"

The California Department of Insurance has approved State Farm's request to increase insurance rates for policy renewals starting March 15. This hike is expected to average 20% across the state, with higher rates for those in wildfire-prone areas. The increase comes as major insurers like State Farm, All State, and Farmers have limited or ceased writing new policies in California due to rising costs and wildfire risks. The state insurance commissioner suggests the FAIR Plan as a temporary coverage option for new homeowners struggling to find affordable insurance.

via KTVU FOX 2 San Francisco|

##business-and-finance #california