•   
  •   
  •   

US Home insurance: what is the price difference between old and new housing?

12:37  03 march  2021
12:37  03 march  2021 Source:   pressfrom.com

Climate change is increasing flood risk around the country. Insurance rates are not keeping pace, report finds

  Climate change is increasing flood risk around the country. Insurance rates are not keeping pace, report finds Flooding is the most costly natural disaster in the United States. As climate change increases the risk of flood damage, a new report finds that the country's National Flood Insurance Program is greatly underestimating the financial threat to homeowners.Wildfires and hurricane-force winds produce stunning videos and headlines, but flooding is the most common and costly natural disaster in the United States.

Assurance habitation : quelle différence de prix entre un logement ancien et neuf ? © Marko Geber / Getty Images Home insurance: what is the price difference between old and new housing? You could imagine that insuring a new home was cheaper than insuring an old property. A study carried out by the comparator LeLynx shows us in detail the average price differences according to the floors, and the surface of the goods.

On average, providing new housing costs around 157 euros per year, compared to 167 euros for the old one. This is what emerges from a study * published in early March by LeLynx.fr. These price differences vary mainly according to the surface of the accommodation, and their floor. For properties between 9 and 20 square meters, thus, insurance will average 87 euros per year for new homes, against 91 euros for old homes. Or only 4 euros of average difference per year. As the area increases, however, the price differentials on insurance widen. For apartments of 40 to 50 square meters, the average difference will be around 8 euros (116 euros per year in the new versus 124 euros per year in the old). And for homes with an area between 100 and 150 square meters, the average price difference will be 18 euros.

HUD urges Congress to pass Biden's $1.9 trillion stimulus to help struggling homeowners

  HUD urges Congress to pass Biden's $1.9 trillion stimulus to help struggling homeowners President Joe Biden's stimulus plan would provide funding for rural housing, aid to prevent homelessness, and emergency rent and mortgage relief.The US Dept. of Housing and Urban Development, or HUD, expressed support on Thursday for the package's funding for emergency rental assistance and homelessness prevention, among other things.

>> Our service - Save money by testing our home insurance comparator

The floors have little impact on the price of insurance

LeLynx.fr has finally compared the differences in insurance prices according to the floors where the apartments are located. These are pretty tiny, the study shows. Regarding new apartments, it takes on average 129 euros per year to insure a property on the top floor, 130 euros per year for an intermediate floor, and around 134 euros per year for accommodation on the ground floor. Regarding old properties, the differences are also very slight: 130 euros per year on average to provide accommodation on the top floor and on the ground floor. Counterintuitively, the intermediate floors are the most expensive to insure: 138 euros per year on average. This is explained, reports LeLynx.fr, by the fact that the apartments at the ends of the building are often smaller in size. We think, for example, of the maids' rooms located in the attic. These homes are therefore ultimately less expensive to insure than the others.

>> Our service - Find your new home, old or new, to buy or rent, much more easily thanks to our geolocated ads!

* Methodology: the average price according to the surface, the floor and the type of housing is based on the home insurance premiums clicked by Internet users who have carried out a home insurance comparison on the lelynx.fr site of the 09/01/2019 to 08/31/2020 for a house or an apartment, new or old, for a total of 228,597 prices clicked over the period for the whole of metropolitan France.

Chicago suburb to become first city to give Black residents reparations as vote on housing assistance draws close .
Evanston, Illinois, approved the measure in 2019 to financially compensate its Black residents to address wealth and opportunity gaps from historical racism and discrimination. Using community donations and revenue from a 3 percent tax collected on the sale of recreational cannabis, the city adopted a reparations fund and pledged to distribute $10 million over 10 years.Since then, Evanston officials have been putting together a plan to disburse the money, eventually deciding that the first $400,000 will be dedicated to address housing needs.The City Council is expected to vote March 22.

usr: 1
This is interesting!