Courtesy Victoria ZangaraIn the past, acquiring or keeping homeowners’ insurance didn’t present much of a problem.
There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, said Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association.
Jim Watson/AFP/Getty ImagesHomeowners who have a mortgage are not able to go without homeowners insurance as their mortgage servicer will require an escrow account for insurance.
Some 6 million homeowners chose to forgo homeowners insurance, according to a report from the Consumer Federation of America.
They have lived in their home for 19 years and had a policy with Foremost Insurance, paying about $1,910 a year.
Persons:
Alfredo Herrera, Herrera, Zangara, “, ”, ” Herrera, policyholders, Mark Friedlander, Neil Fernandes, Fernandes, David Swanson, Matthew Carletti, Jim Watson, Diana Troxell, Diana Wright Troxell, Bruce, ” CNN’s Ella Nilsen
Organizations:
New, New York CNN, Louisiana Citizens, ”, National Oceanic, Atmospheric Administration, Louisiana State University, Insurance Information Institute, Farmers Insurance, Farmers, AAA, CNN, Firefighters, Reuters, State, Citizens Property Insurance, JMP Securities, Getty, Homeowners, Consumer Federation of America, CFA, Social Security, Foremost Insurance, California FAIR, FAIR
Locations:
New York, New Orleans, City, Louisiana, New Orleans , Louisiana, America, United States, Santa Clarita , California, California, Florida, Sycamore, Whittier , California, AFP, Cottonwood , California, ‘