The home insurance cost for a daycare which is operated out of a providers' home in Oklahoma could be set to change. This is because of a request by Rep. Mike Shelton for a legislative study on feasibility of requiring home daycares to carry liability insurance. Shelton, a Democrat from Oklahoma City, believes that insurance should be required for any business that is taking care of children.

Most daycare centers already carry such insurance, but there are some in Oklahoma that remain exempt. Shelton's concern is that families could lend up paying to much for medical expenses in the event of an accident at an uninsured daycare center. He doesn't think it's fair for families to carry that burden alone, and estimates that the cost for home daycare facilities to carry insurance would be moderate at about $500 per year.

Many reverse mortgage borrowers are paying high home insurance cost and loan fees because they were persuaded to spend their loan proceeds on risky investments. This is just one of the problems facing the US reverse mortgage program, which is government-insured. The FHA reverse mortgage protects lenders from losses and guarantees that seniors will maintain access to promised funds.

The FHA required consumer counseling prior to a reverse mortgage approval, and has also introduced a cheaper loan option called HECM Saver. Even though the program relieves seniors of their mortgage payments, many have still fallen behind on taxes and insurance premiums. This is partly due to the fact that lenders aren't allowed to determine if borrowers have enough money to pay their taxes and insurance under the current program rules.

The home insurance cost in New Zealand is not expected to change due to a new government support package for homeowners. The New Zealand government announced the package for home owners who had been affected by the recent earthquakes in Christchurch.

The reason that Standard & Poor's expects the impact of the package to be limited is because the estimated costs to the New Zealand government of purchasing around 5,000 damaged properties will be met with funds from a special earthquake recovery fund. The package will help affected borrowers, so it's also positive for financial institutions as it limits the impact of declining property values in the Christchurch area. The affect is close to neutral for insurers, as the government assistance doesn't change the existing ability of policyholders file claims on their policies.