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Europe set for weekly loss | FTSE 100 drops
Oil prices down ahead of key U.S. jobs report
Treasury yields fall | Dollar weakens
Big week of losses for Asian stocks
Amazon to buy video software company

Chinese Navy ships enter U.S. territory

Watch China’s 90-minute parade in 60 seconds
See photos of China's massive military parade
China markets close for war anniversary

Donald Trump stumbles during interview on foreign policy
Trump stumbles in interview on foreign policy
Trump signs Republican loyalty pledge
Carson and Trump: Their policy differences
Trump as president: Bound to be GREAT!

Oops — Rick Perry says broken clock right once a day

My father wanted to divide his estate, but my sister took it all
My sister took all of my father’s estate


Money flows back to stock funds as investors tiptoe in
Money flows back to stock funds

Bill Gross says Fed will do ‘too little, too late’

Obscure trading strategy draws Wall Street’s ire


Labor Day traffic will be the worst since 2008


Hey Twitter, is Jack Dorsey going to be CEO?

Germany at fault in Europe’s refugee crisis
Immigration to Germany at highest since 1992
Chaos in Budapest as migrants rush trains
Father of drowned Syrian boy describes voyage

Six actors who were almost cast as James Bond

Gates: How we can avoid worst of climate change

1 in 3 Americans who get an inheritance blow it
Brother wants loan repaid to father’s estate
I give my son money, his wife gives it to church


Facebook is most successful app, beating out Google, Apple
This is the most successful app ever


What it’s like to play tennis with a ‘smart’ racket

Does this survey confirm our worst fears about the sexes?
Does this confirm our worst fears about the sexes?

Karl Lagerfeld is coming to a store near you
Lagerfeld is coming to a store near you


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Markets »

23.58MDow Volume:
Avg Vol: 113.10M
Unchanged
211
Decliners
4312
Advancers
1544
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,118 -257 1.57%
Nasdaq
/quotes/zigman/12633936/realtime 4,691 -43 0.91%
S&P 500
/quotes/zigman/3870025/realtime 1,924 -27 1.37%
GlobalDow
/quotes/zigman/629063/realtime 2,283 -40 1.72%
Gold
/quotes/zigman/662444/delayed 1,119 -6 0.49%
Oil
/quotes/zigman/2331095/delayed 46.41 -0.34 0.73%
FTSE 100
/quotes/zigman/3173262/delayed 6,067 -127 2.05%
DAX
/quotes/zigman/2380246/delayed 10,057 -261 2.53%
CAC 40
/quotes/zigman/3173214/delayed 4,533 -121 2.60%
FTSE MIB
/quotes/zigman/1482176/delayed 21,531 -646 2.91%
IBEX 35
/quotes/zigman/2759620/delayed 9,819 -224 2.23%
Stoxx 600
/quotes/zigman/2380150/delayed 354 -8 2.24%
Asia Dow
/quotes/zigman/6959860/realtime 2,682 -30 1.12%
Nikkei 225
/quotes/zigman/5986735/delayed 17,792 -390 2.15%
Hang Seng
/quotes/zigman/2622475/delayed 20,841 -94 0.45%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,202 -563 2.18%
Singapore
/quotes/zigman/1709939/delayed 2,864 -43 1.47%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 0.00 0.11%
Yen
/quotes/zigman/16008150/realtime/sampled 119.28 -0.79 0.66%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.45%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.69 -0.01 1.04%
DXY Index
/quotes/zigman/1652083/delayed 96.47 +0.07 0.07%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.97 +0.15 0.17%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 0.00 0.16%
German 10y
/quotes/zigman/15866409/realtime 0.68 -0.04 5.91%
Italy 10yr
/quotes/zigman/15866497/realtime 1.89 -0.04 1.93%
Spain 10yr
/quotes/zigman/15866444/realtime 2.08 -0.03 1.32%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.76 -0.04 2.20%
Japan 10yr
/quotes/zigman/15866525/realtime 0.37 -0.03 6.87%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.73%
Gold
/quotes/zigman/662444/delayed 1,119 -6 0.49%
Corn
/quotes/zigman/7599553/delayed 364 +2 0.62%
DJIA F
/quotes/zigman/38649152/delayed 16,122 -226 1.38%
S&P F
/quotes/zigman/30356461/delayed 1,923 -23 1.19%
Silver
/quotes/zigman/3134148/delayed 15 0 0.86%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 86.91 -1.24 -1.41%
AAPL /quotes/zigman/68270/composite 109.46 -0.91 -0.82%
GOOG /quotes/zigman/30194416/composite 597.55 -8.70 -1.44%
BAC /quotes/zigman/190927/composite 15.70 -0.24 -1.51%
C /quotes/zigman/5065548/composite 50.83 -0.96 -1.85%
F /quotes/zigman/264304/composite 13.58 -0.26 -1.88%
T /quotes/zigman/398198/composite 32.54 -0.50 -1.51%
BP /quotes/zigman/247026/composite 30.99 -1.42 -4.38%
GE /quotes/zigman/227468/composite 24.01 -0.50 -2.04%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Home Insurance Goes Through the Roof

Faced with falling home prices and climbing maintenance costs, struggling homeowners may soon face another setback: higher insurance premiums.

Getty Images

After rising steadily for the past few years, homeowner insurance premiums are expected to jump another 5% this year to $1,004, according to the Insurance Information Institute. That’s the biggest yearly increase since the market downturn and will mark the first time the national average premium is above $1,000.

Premiums will rise even higher in some states. In Georgia, GuideOne Insurance will raise rates by 12% on average starting this month. Farmers Insurance is increasing rates in Texas by 10% on average. Last month, Allstate started raising rates by 15% in Pennsylvania. And Florida insurer Citizens Property Insurance Corp. and North Carolina Farm Bureau are raising rates on some condo and homeowners by 21% and 6%, respectively.

The higher premiums come at a challenging time for American homeowners, as millions are behind on their mortgage payments and many owe more on their home than it’s worth. Insurers say the higher premiums are partly to cover their rising costs: Insured catastrophe losses in the U.S. totaled $35.9 billion in 2011, compared to a 2000 to 2010 average of $23.8 billion, according to the III. The companies are also paying more in premiums to so-called reinsurers, which provide insurers coverage for widespread catastrophic events, says Steven Weisbart, senior vice president and chief economist at the III.

Meanwhile, insurers’ returns on their investments — roughly 70% of their assets are in bonds – have been low, he says, and they’re looking for other ways to make up that lost revenue. “The only other place insurance companies can get money from is premiums,” he says.

Typically, when policyholders are informed of premium increases they shop around for better prices, but experts say that’s become harder to do. As insurers exit some markets altogether, homeowners are left with fewer companies to choose from. For instance, starting in May, State Farm will not renew roughly 11,000 homeowner policies in five coastal counties in Texas. The company says it’s trying to lessen its exposure to future losses.

To lower premiums, some homeowners increase their deductible, which means they’ll have to pay more out of pocket if disaster strikes before their insurance kicks in. But this strategy might not be as helpful this time around, since some insurers are dropping other types of coverage that were previously part of basic homeowner insurance policies. When coupled with a high deductible, a homeowner’s expenses could soar.

Allstate, for instance, recently introduced a new homeowner’s policy in Kansas and Oklahoma that doesn’t pay out the full cost of replacing all roofs that incur windstorm or hail damage. Kevin Smith, a company spokesman, says Allstate will determine which roofs qualify based in part on their age and condition. If Allstate declines to pay the full cost, it will pay the current value of that roof and the homeowner will be on the hook for the difference. The company says the homeowner’s other option is to purchase so-called replacement cost coverage for roof losses  in addition to their basic policy.

Even if homeowners find a lower premium, it might not stay low for long. Experts say many insurers filed requests with states to raise rates this year. (When states approve higher rates, that leads to higher premiums for policyholders.) For instance, last month, Pennsylvania received requests from Erie Insurance and Travelers to increase premiums by roughly 9% by June and July, respectively, according to the state’s insurance department. (The companies didn’t respond to requests for comment.) In Georgia, most of the major companies filed requests to raise rates from 18% to 22%, says Steve Manders, director of insurance product review at the state’s department of insurance. The states say they don’t usually approve requests for increases by the exact amount insurers ask for.

Comments

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Comments (5 of 44)

View all Comments »
    • i’m screwed in texas too, its rising faster than grocery store prices.

    • I’ve lived in my Georgia home for 14 years this March without a single claim on my homeowners insurance. In 2012, responding to a huge rate increase, I increased my deductible to $5K — and even that left me with an 18% increase to my premium. The renewal I just received for 2013 included yet another increase, this time of 17%. 38% higher in just 2 years, with reduced liability for the company and NOT ONE CLAIM EVER. Both times, the answer to my inquiry of WHY was simply “the state allowed the increase.”

      The claim by insurers that their costs are high, that fraud is contributing to their losses, may be true but is not an adequate reason for these astronomical across-the-board hikes. When state insurance regulators simply roll over and say OK to anything requested by the industry, where does that leave the consumers they are supposed to represent? Totally screwed, that’s where. We MUST have insurance, and fewer companies offer it every year. Competition is a joke.

      Insurance by definition involves risk — protection from risk is what we buyers have paid for, for years. But the insurance companies seem to have convinced regulators that “too much risk” is something THEY shouldn’t have to bear, even though they’ve been taking payments for years with no risk at all in most cases. Since buying my first home in 1985, I have paid over $28,000 in homeowners insurance and (fortunately) have received not one penny in claims. I represent $28 grand of pure profit to my insurers. And what’s my reward? Rate increases of over 38% in two years because my state regulators think the insurance industry’s “risks” are too high, and their profits too small. If the time comes when the insurance companies get no increases for four years (like my salary!) I’ll be a little more understanding.

    • This once great country America the United States is so screwed. And, in so many ways. Over the last decade +, things are just eroding. As one had said it very well before, I’m penalized for living in a much lower risk area than other’s who choose the higher ones! And, I’m paying for them! Why is this fair? NOT! I should just burn my house down and make my claim already! Am I’m NOT even underwater on my mortgage!

    • So how is it fair to people like me who have been paying for insurance for 30 years and has never once filed a claim? My homeowner’s insurance increased 23% in 2012 over 2011′s premium. So I guess they figure the longer I go without filing a claim, the more likely I am to file one in the near future? Insurance is a scam, but by law, we have to have it. It isn’t right that people in lower risk areas have to make up the difference for the ones who choose to live in higher risk areas. They know the risk they’re taking.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Close in:

need to know
When do markets close for Labor Day?
Netflix's stock heads for sixth straight loss
BlackBerry shares up 4% after deal news
44 million tried Apple Music in its first month
Alibaba shares to be used for $2 bln loan
Europe set for weekly loss | FTSE 100 drops
Oil prices down ahead of key U.S. jobs report
Treasury yields fall | Dollar weakens
Big week of losses for Asian stocks
Amazon to buy video software company

Chinese Navy ships enter U.S. territory

Watch China’s 90-minute parade in 60 seconds
See photos of China's massive military parade
China markets close for war anniversary

Donald Trump stumbles during interview on foreign policy
Trump stumbles in interview on foreign policy
Trump signs Republican loyalty pledge
Carson and Trump: Their policy differences
Trump as president: Bound to be GREAT!

Oops — Rick Perry says broken clock right once a day

My father wanted to divide his estate, but my sister took it all
My sister took all of my father’s estate


Money flows back to stock funds as investors tiptoe in
Money flows back to stock funds

Bill Gross says Fed will do ‘too little, too late’

Obscure trading strategy draws Wall Street’s ire


Labor Day traffic will be the worst since 2008


Hey Twitter, is Jack Dorsey going to be CEO?

Germany at fault in Europe’s refugee crisis
Immigration to Germany at highest since 1992
Chaos in Budapest as migrants rush trains
Father of drowned Syrian boy describes voyage

Six actors who were almost cast as James Bond

Gates: How we can avoid worst of climate change

1 in 3 Americans who get an inheritance blow it
Brother wants loan repaid to father’s estate
I give my son money, his wife gives it to church


Facebook is most successful app, beating out Google, Apple
This is the most successful app ever


What it’s like to play tennis with a ‘smart’ racket

Does this survey confirm our worst fears about the sexes?
Does this confirm our worst fears about the sexes?

Karl Lagerfeld is coming to a store near you
Lagerfeld is coming to a store near you


/conga/frontpage.html 354170

Markets »

23.60MDow Volume:
Avg Vol: 113.10M
Unchanged
211
Decliners
4312
Advancers
1544
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,120 -255 1.55%
Nasdaq
/quotes/zigman/12633936/realtime 4,691 -42 0.89%
S&P 500
/quotes/zigman/3870025/realtime 1,925 -26 1.35%
GlobalDow
/quotes/zigman/629063/realtime 2,283 -40 1.72%
Gold
/quotes/zigman/662444/delayed 1,119 -5 0.48%
Oil
/quotes/zigman/2331095/delayed 46.48 -0.27 0.58%
FTSE 100
/quotes/zigman/3173262/delayed 6,068 -126 2.03%
DAX
/quotes/zigman/2380246/delayed 10,060 -258 2.50%
CAC 40
/quotes/zigman/3173214/delayed 4,533 -121 2.60%
FTSE MIB
/quotes/zigman/1482176/delayed 21,536 -641 2.89%
IBEX 35
/quotes/zigman/2759620/delayed 9,822 -220 2.19%
Stoxx 600
/quotes/zigman/2380150/delayed 354 -8 2.24%
Asia Dow
/quotes/zigman/6959860/realtime 2,682 -31 1.12%
Nikkei 225
/quotes/zigman/5986735/delayed 17,792 -390 2.15%
Hang Seng
/quotes/zigman/2622475/delayed 20,841 -94 0.45%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,202 -563 2.18%
Singapore
/quotes/zigman/1709939/delayed 2,864 -43 1.47%
Euro
/quotes/zigman/16008136/realtime/sampled 1.11 0.00 0.11%
Yen
/quotes/zigman/16008150/realtime/sampled 119.28 -0.79 0.66%
Pound
/quotes/zigman/16008140/realtime/sampled 1.52 -0.01 0.45%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.69 -0.01 1.04%
DXY Index
/quotes/zigman/1652083/delayed 96.47 +0.07 0.07%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.95 +0.14 0.16%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.16 0.00 0.20%
German 10y
/quotes/zigman/15866409/realtime 0.68 -0.04 5.91%
Italy 10yr
/quotes/zigman/15866497/realtime 1.89 -0.04 1.93%
Spain 10yr
/quotes/zigman/15866444/realtime 2.08 -0.03 1.40%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.76 -0.04 2.20%
Japan 10yr
/quotes/zigman/15866525/realtime 0.37 -0.03 6.87%
Crude Oil
/quotes/zigman/2331095/delayed 46 0 0.58%
Gold
/quotes/zigman/662444/delayed 1,119 -5 0.48%
Corn
/quotes/zigman/7599553/delayed 364 +2 0.62%
DJIA F
/quotes/zigman/38649152/delayed 16,120 -228 1.39%
S&P F
/quotes/zigman/30356461/delayed 1,923 -23 1.20%
Silver
/quotes/zigman/3134148/delayed 15 0 0.80%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 87.23 -0.92 -1.04%
AAPL /quotes/zigman/68270/composite 109.55 -0.83 -0.75%
GOOG /quotes/zigman/30194416/composite 599.99 -6.26 -1.03%
BAC /quotes/zigman/190927/composite 15.70 -0.24 -1.51%
C /quotes/zigman/5065548/composite 50.86 -0.93 -1.80%
F /quotes/zigman/264304/composite 13.59 -0.26 -1.84%
T /quotes/zigman/398198/composite 32.54 -0.50 -1.52%
BP /quotes/zigman/247026/composite 30.95 -1.46 -4.51%
GE /quotes/zigman/227468/composite 24.02 -0.50 -2.02%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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