Latest Real Estate & Housing News & Research


Detroit homeowners can qualify for lower home insurance rates. Here’s how!

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By: Ramu Garuda  September, 05, 2019

Homeowners in Detroit, Michigan, pay an average homeowner's insurance rate of $350 per annum according to a Gavop study. Detroit has one of the highest crime rates compared to other neighborhoods in America. The city reports about 2,640 robberies annually and over 30,609 crimes targeting properties. In fact, a resident of Detroit has a one in 15 chance of becoming a victim of either violent or property crime. Another possible reason for property crimes in Detroit is the low density of inhabitants, resulting in numerous vacant properties. Most of these neighborhoods are located in the northeast and the fringes of the city.

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Austin homeowners insurance rates can be as low as $119

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By: Hemanth Ramesh September, 04, 2019

According to Gavop research, homeowners in Austin, Texas, pay an average homeowner's insurance rate of $890 per annum, which is $338 lower than the state average of $1,228. The typical home value in Austin is about $216,700.

Austin reports about 4,741 homes with a value of less than $50,000. Homeowners with a home valued at less than $50,000 pay an average homeowners insurance rate of $119 per annum.

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San Antonio homeowners can save up to 26% on home insurance costs

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By: Ramu Garuda  September, 03, 2019

Homeowners in San Antonio pay an estimated homeowner’s insurance premium of $620 per year, which is much lower than the national average of $1228. This is due to factors such as low crime rates, better response times from the fire departments, and few possibilities of natural disasters in San Antonio. While living in San Antonio has its perks, homeowners can also do their bit to make their homeowner's insurance rates cheaper.

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Phoenix homeowner's insurance rates can be as low as $86

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By: Hemanth Ramesh September, 02, 2019

According to research by Gavop, homeowners in Phoenix, Arizona pay an average homeowners’ insurance premium of $910 per annum, which is $319 less than the state average of $1228.  The typical home value in Phoenix is around $174,400.

About 55,611 homes in Phoenix have a home value of less than $50,000. Homeowners with homes valued less than $50,000 pay an average homeowner’s insurance rate of $86 per annum.

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San Diego homeowners can pay 22% less on their insurance rates

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By: Ramu Garuda  August, 30, 2019

Residents of San Diego, California, pay an estimated homeowner’s insurance premium of $620 per annum, which is much lower than the national average of $1228. This is due to multiple factors such as a lower crime rate, better response times from the fire departments and low risks of natural disasters in San Diego. While living in the city has its benefits, San Diego homeowners can make their insurance rates even cheaper by following some tips.

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Chicago Homeowners can save on home insurance by improving home safety

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By: Hemanth Ramesh August, 29, 2019

Chicago is the largest city in the state of Illinois, with a population of 2,705,994, which is slightly less than 25% of the total population of Illinois. It is also the third most populous city in the United States. However, Chicago has a much higher crime rate than New York City and Los Angeles, the largest cities in the US. Naturally, higher crime rates translate into higher insurance costs.

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Los Angeles Homeowners Insurance Rate Is $573 Lower Than the National Average

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By: Ramu Garuda  August, 28, 2019

Homeowners in Los Angeles pay an estimated homeowner’s insurance premium of $655 per annum, which is significantly lower than the national average of $1228. This is due to factors such as lower crime rates, better response times from the fire departments and lower chances of natural calamities striking Los Angeles.

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Top 5 Home Insurance Firms in Indiana by Market Share

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By: Hemanth Ramesh August, 27, 2019

Gavop has identified the top 5 multi-peril home insurance providers in Indiana by analyzing the market share report for 2019, published by the National Association of Insurance Commissioners (NAIC).

State Farm

State Farm has the highest market share in the multi-peril home insurance segment in Indiana, with25.26%. The firm reported a sum of $502,702 in direct premiums written and $ 496,726 in direct premiums earned. AM Best credited State Farm with the highest possible score of A++ for their superior ability to meet their current financial obligations.

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New York City Homeowner's Insurance at $673 per annum

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By: Ramu Garuda  August, 26, 2019

Homeowners in New York City pay an average homeowner's insurance premium of $ 673 per annum, which is much lower than the national average of $1228 per annum. This could be due to the fact that metropolitan cities have lower crime rates, better response times from the fire department, and are less prone to natural disasters.

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Top 5 Insurance Firms in Missouri According to Market Share

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By: Hemanth Ramesh August, 23, 2019

Gavop analyzed data from a market share report published by the National Association of Insurance Commissioners (NAIC) in 2019 to identify the top 5 insurance firms providing multi-peril homeowners insurance in Missouri on the basis of their market share.

State Farm

State Farm is the largest provider of multi-peril homeowners insurance in Missouri with a 25.29% market share. State Farm records about $538,715 in direct premiums written and about $528,681 in direct premiums earned. AM Best awarded State Farm the highest possible rating of A++ for their superior ability to meet their ongoing insurance obligations.

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