About Gulf Coast Home Insurance Prices

I figured that one home insurance company was going to more or less the same as any other. I really just checked with Jack Green Insurance just to see what they could do. They very quickly got me a quote.  I was floored when he showed me their price.  I really thought it was a mistake.  They looked over my policy and literally cut my rate in half. Was it the same coverage?  No.  It was slightly better, a little lower deductible and a little  higher coverage limits.    David B - Mobile, Alabama

Here are some news stories and articles to help you educate yourself about the factors that influence homeowners insurance prices, especially here on the Gulf Coast.


On Mississippi Gulf Coast, the crushing cost of homeowners’ insurance: newspaper reports | NOLA.com

In Mississippi, ;The Sun-Herald reports on a Long Beach couple not sure they can keep their house. The homeowners’ insurance policy has skyrocketed some 225 percent since Hurricane Katrina, the article says. And that’s for a home that filed no claim after Katrina. Louisiana has recently seen its insurance situation stabilize since the double whammy of Katrina and Hurricane Rita caused nearly $30 billion in claims, according to state figures. Despite the unprecedented damage, Insurance Commissioner Jim Donelon said increased competition from providers has calmed the Pelican State’s market. After an average 2.3 percent jump in prices in 2013, premiums in Louisiana increased only 1.9 percent in 2014, Donelon said. That’s a big change in five years. In 2010, on Katrina’s 5th anniversary, a headline at NOLA.com | The Times-Picayune said home insurance prices “remain astronomical.” Consumer advocate Bob Hunter, who once served as the Texas insurance commissioner, told The Sun-Herald he thinks he knows why prices have risen so dramatically. His conclusion is nothing short of startling: the insurance industry lied. He bases that shocker on structural changes the insurance industry pushed, and he supported, while insurance commissioner in Texas. The industry assured him the changes would help keep…

Article Source: www.nola.com/katrina/index.ssf/2015/09/on_mississippi_gulf_coast_the.html



Hurricane and Windstorm Deductibles | III

After Hurricane Andrew in 1992, insurers realized that losses from hurricanes could be much higher than they had previously thought. Hurricane Katrina, in 2005, which cost insurers more than $41 billion at the time, confirmed their fears. After these extraordinary losses, reinsurance companies, insurers that share the cost of claims with primary companies, such as homeowners insurers, said that they could not assume so much risk and that primary companies must reduce their potential losses.

Article Source: www.iii.org/issue-update/hurricane-and-windstorm-deductibles



Hurricane season is here. Are P&C insurers still prepared for the worst? | PropertyCasualty360

After several seasons free of major catastrophes, here a gut-check on whether property and casualty insurers expect a pendulum swing — and how they would respond.

Article Source: www.propertycasualty360.com/2016/07/05/hurricane-season-is-here-are-pc-insurers-still-pre



Twelve Ways to Lower Your Homeowners Insurance Costs | III

The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Here are some things to consider when buying homeowners insurance.

Article Source: www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs




Jack Green Insurance Staff

Jack Green Insurance Staff

At Jack Green Insurance, you can expect to find the lowest rates along with our access to in-state coverage. With so many coverages available, Jack Green Insurance is your choice for all your insurance needs!