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Higher Insurance Premiums Anticipated For Home Owners
According to the Wall Street Journal Online, some insurance companies are now passing along the higher costs of payouts resulting from hurricanes such as Katrina, Wilma and Rita to homeowners. In fact, some insurers are withdrawing from coastal areas altogether, after incurring an estimated $56 billion of hurricane-related losses. With long-time insurers such as Allstate Corp. and Nationwide Mutual Insurance Co. leaving some vulnerable areas, homeowners are forced to find new...
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