Homeowner insurance fraud occurs when someone knowingly submits a false, inflated or misleading claim on his or her homeowner's policy. This type of fraud may appear in various forms. According to the Coalition Against Insurance Fraud, about 10 percent of property insurance losses are the result of fraud. Therefore, this type of insurance fraud directly influences the premiums that all property owners pay. In fact, the FBI estimates that insurance fraud costs the average U.S. family between $400 and $700 per year in the form of increased premiums alone.
Absolutely nothing about moving out of your home while it undergoes repairs is easy or pleasant. Aside from the stress that the catastrophic damage inflicts when it happens, moving out of your home and completely displacing your family is never a straightforward process. But unfortunately, situations arise where it’s necessary to submit a property insurance claim for substantial home damage. When that happens, you’ll need to know a thing or two about short-term rentals.
In recent years, there’s been widespread real estate anxiety as the cost of living in cities across the United States has steadily increased. In fact, in 2018, there was a 2.8% increase in the cost of living, the highest jump we’ve seen since 2011. While the cost of living is calculated by a wide variety of variables, it heavily relies on housing costs, and the price of houses has been rising almost universally in the United States up to this point.