RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Study: Homeowners Save Most When Combining Insurance

October 11, 2016 12:45 am


Insurance providers often offer discounts to incentivize policyholders to bundle insurance. The savings depend on the type of insurance being combined, as well as the state the policyholder lives in, according to a recently released study by insuranceQuotes.

“Discounts for bundling auto and home, condo or renters insurance vary by state, and can help many consumers save more than $500 per year,” said Laura Adams, senior insurance analyst for insuranceQuotes, in a statement on the study. “Combining policies with the same insurer is a simple and easy way to reduce premiums.”

Policyholders who bundle auto and homeowners insurance reap the most savings at an average $314 per year, according to the study. Homeowners policies are more expensive than those for condo owners or renters, so the savings are more substantial.

The states with the highest average savings are:

1. Louisiana ($584/year)
2. Oklahoma ($541)
3. Texas ($473)
4. Kansas ($444)
5. Mississippi ($430)
6. Arkansas ($421)
7. Minnesota ($418)
8. Alabama and Missouri ($414)
9. Nebraska ($395)
10. Illinois ($392)

In some cases, however, bundling does not maximize savings, Adams cautioned. It is important to shop around for policies, even if they are from different insurance providers.

“Combining policies usually saves money; however, there are scenarios when using separate providers could be a better option,” said Adams. “Always compare quotes both bundled and unbundled.”

Source: insuranceQuotes
 

Published with permission from RISMedia.


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Rents to Keep Rising in 2017

October 11, 2016 12:45 am


Rents are expected to increase 1.7 percent in 2017, according to the latest Zillow® Rent Forecast, with the highest increases anticipated in markets in the West—Seattle, Portland and Denver. The projected increase, though slowing, could give reason for renters to make the transition to homeownership.

“We have more renters today than in the past, and most newly formed households are renter households,” says Dr. Svenja Gudell, chief economist at Zillow. “This taken together with a lack of new rental construction at less expensive price points has been a recipe for rising rents."

Zillow’s forecast predicts rents will rise most rapidly in:

1. Seattle, Wash. – 7.2 percent
Median Rent: $2,067

2. Portland, Ore. – 6.0 percent
Median Rent: $1,777

3. Denver, Colo. – 5.9 percent
Median Rent: $2,013

4. Cincinnati, Ohio – 5.2 percent
Median Rent: $1, 239

5. San Francisco, Calif. – 4.9 percent
Median Rent: $3,406

6. Los Angeles, Calif. – 4.8 percent
Median Rent: $2,593

7. Sacramento and San Diego, Calif. – 4.7 percent
Median Rent (Sacramento): $1,681
Median Rent (San Diego): $2,427

8. Phoenix, Ariz. – 4.6 percent
Median Rent: $1,297

9. San Jose, Calif. – 4.5 percent
Median Rent: $3,517

10. Boston, Mass. – 3.9 percent
Median Rent: $2,310

“There is good news for renters on the horizon, though,” Gudell adds. “Current renters in these markets can expect rents to slow down a bit over the next year. Instead of the 10 percent rental appreciation we’ve been seeing in some places, expect growth more along the lines of 4 to 7 percent. This is still high, but will hopefully give renters some relief.”

Source: Zillow®
 

Published with permission from RISMedia.


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