State Capitol week in review
At a recent meeting of the
Several nearby states have begun mitigation programs, which provide financial incentives for strengthening homes to limit damage from during storms.
For example, in
In
The largest ten companies in
If we experience a relatively good year with few tornadoes and severe storms, insurance rates will flatten out or even decrease, the officials said.
Last year rates for insurance went up by an average of 15 to 20 percent. However, that is just a portion of the rising costs for homeowners. Some rate increases followed similar increases the year before. Also, companies raised the value of homes, requiring owners to purchase more insurance to cover replacement costs.
Deductibles have risen too. Another new development in
Some options for holding down rates may not be practical, or possible, because they would conflict with the interests of banks and mortgage holders, or re-insurance companies.
For example, legislators on the committee floated the idea of allowing large deductibles of
If you owed
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