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- 🏡 Nevada Homeowners Insurance Rates Continue to Climb
🏡 Nevada Homeowners Insurance Rates Continue to Climb
Issue #092 - March 8, 2024
John Wu
08 Mar
Dear SummerSouth Insiders!
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📆 Weekly Local Events for March 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Lunch and Rummikub Mondays at IHOP Summerlin (Every week on Monday @ 12PM
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW): (Every week on Tuesday @ 5:30 - 7:30PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Country Swing Level 1 @ Rhythms Dance Studio & Event Center: 7 - 8 PM (Every week on Wednesday until December 17, 2024); $15 drop-in rate
$50 for the whole month. Pay and register on the website.
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour: 7 - 9 PM (Every week on Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Vegas Hikers - Ike’s Peak 4.3 Mile (southwest) 2 groups: 1:30 - 4:30 PM (Every week on Saturday until March 15, 2024)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
🌤 Summerlin South, Las Vegas Weather
🏡 Nevada Homeowners Insurance Rates Continue to Climb
Nevada homeowners are facing steeper insurance rates, with no signs of a decrease on the horizon. According to a study by Insurance.com, which aggregates insurance policy data, the state's homeowners insurance premiums jumped by 7.5% in 2023 and have surged by 21% since 2018.
Scott Menath, President of the Nevada Independent Insurance Agents trade association, notes significant variance in policy hikes depending on each home's specifics and location. Average homes have experienced rate increases ranging from 10% to 50% over the past year. Particularly high-risk areas like Lake Tahoe and Mount Charleston are seeing even more pronounced spikes, with some Lake Tahoe policies soaring by as much as 1,000% and Mount Charleston properties becoming exceedingly difficult to insure.
Several contributing factors are pushing these rates upward, including escalating inflation impacting the cost of home reconstruction, supply chain disruptions causing longer and costlier repairs, increasing apprehension from insurers about environmental risks such as wildfires, and rising reinsurance rates—where insurance companies insure against large claims.
Currently, the Nevada homeowners insurance sector is described as a "hard market," characterized by a limited number of providers and more stringent policies, resulting in increased costs. Although the market is not expected to see significant changes in 2024, Menath is optimistic that it may begin to soften and stabilize towards the end of the year.
To mitigate the sting of rising premiums, Menath suggests several strategies for homeowners:
Opting for a higher deductible.
Improving their credit score.
Consulting with an insurance specialist to review and compare policies among various providers.
Ensuring their policy is free from superfluous coverage.
Installing anti-theft systems.
Keeping fire suppression and water shut-off systems current.
Making home modifications to enhance resistance to damage and environmental risks.
🏒 Canucks Triumph Over Golden Knights Despite New Additions to Vegas Roster
Quinn Hughes and Phillip Di Giuseppe quickly found the back of the net, scoring just 55 seconds apart, propelling the Vancouver Canucks to a 3-1 win against the Golden Knights at T-Mobile Arena on Thursday evening.
This defeat marks a continuing rough patch for the Knights (33-23-7), who have now suffered four consecutive losses and have only managed two wins in their last eleven outings.
The Knights' Michael Amadio did manage to narrow the Canucks' lead during the second period, but Conor Garland of the Canucks (41-17-7) dashed any hopes of a comeback by solidifying their lead later in the same period.
The game was especially notable as it featured the debuts of the Knights' recent acquisitions, forward Anthony Mantha and defenseman Noah Hanifin. Despite their introduction to the team, the Knights couldn't break their losing streak, leading to a night of mixed emotions for the Vegas team.
🎰 Fontainebleau Resort Boosts Staff Benefits Focusing on Well-Being and Family Support
The Fontainebleau, the Strip's newest resort, has unveiled a suite of enhanced benefits aimed at bolstering the well-being and family support for its team members, as announced in a news release on Thursday.
The resort, which refers to its employees as members, has outlined a comprehensive benefits package that encompasses child care support, fertility services, fitness, and wellness initiatives. Kim Virtuoso, Fontainebleau's senior vice president of people, emphasized the importance of a content and healthy workforce, stating that such an environment is essential for the staff to provide exceptional experiences for guests.
Key components of the benefit package include a partnership with Tootris, a child care platform, offering full-time and part-time care, as well as services outside of standard working hours. This unique arrangement also promises Fontainebleau's estimated 6,500 members up to $2,700 annually to assist with child care costs.
Moreover, the resort is providing access to Carrot Fertility, a comprehensive family planning resource that connects individuals with experts across various reproductive health services including pregnancy support, IVF, adoption, and menopause.
The newly announced benefits extend to discounts on fitness classes via Gympass and a host of other wellness programs through LifeBalance. While some of the resort's competitors on the Strip offer work-life balance benefits like on-site child care, Fontainebleau's fertility support represents an innovative step forward, particularly as such services are often not included in standard health insurance plans.
According to Amanda Belarmino, a hospitality professor at UNLV, the escalation in living costs makes child care benefits not just attractive but necessary for competitive employment offerings on the Strip. Belarmino also suggests that aiding with adoption costs could further enhance a company's competitive edge, particularly for those aspiring parents facing financial hurdles.
❎ State of the Union 2024: Biden Asserts U.S. Strength, Denounces Republican Policies
President Joe Biden delivered a compelling State of the Union speech, emphasizing his stance for a second term by criticizing former President Donald Trump without naming him, accusing him of promoting "resentment, revenge, and retribution" and endangering freedom globally. Biden's speech, lasting 68 minutes, showcased a vigorous tone, contrasting his usual demeanor and addressing voter concerns regarding his capacity to serve at the age of 81. He highlighted his life's experiences, including being born during World War II and coming of age in the 1960s, as foundational to his commitment to freedom, democracy, and core American values such as honesty, decency, dignity, and equality.
Biden also connected Trump's support for the January 6, 2021, Capitol rioters with threats to democracy both domestically and internationally, notably mentioning the need to support Ukraine against Russia's invasion. Amidst this, he tackled various policy issues, including immigration, tax reforms, and the support for Ukraine and Israel, while facing mixed reactions from the Congress. Despite challenges, Biden asserted the nation's strength and potential for improvement.
Republican leaders countered Biden's message with Senator Katie Britt emphasizing the need for stronger leadership, while Trump criticized Biden's speech on social media. Additionally, Biden's address covered the Israeli-Hamas conflict, urging Israel to allow more humanitarian aid into Gaza, and touched on immigration and abortion access, highlighting his commitment to these issues.
😋Palace Station Welcomes Lindo Michoacan, Elevating Las Vegas's Mexican Dining Scene
Lindo Michoacan, a cherished family-owned Mexican restaurant that has delighted Las Vegas diners for over three decades, is set to open its seventh location in the valley this spring at Palace Station. Javier Barajas, the restaurateur behind the successful group, expressed enthusiasm about introducing the brand's hallmark dining experience to Palace Station, promising an authentic celebration of Mexican cuisine and hospitality.
Customers can look forward to a menu filled with beloved Lindo Michoacan dishes, including an array of tacos, tortugas, and specialty plates featuring fish, chicken, pork, and beef, alongside combination plates and the signature tableside guacamole. Known for its convivial atmosphere, slow-cooked carnitas in oranges, extensive tequila selection, and robust catering service, Lindo Michoacan first opened its doors on East Desert Inn Road in 1990. Since then, it has earned a loyal following thanks to its commitment to quality and service. Barajas, who honed his culinary skills at a seminary in Michoacan, a region renowned for its rich culinary heritage, aims to continue this tradition of excellence at the new Palace Station venue.
The new Lindo Michoacan location is set to replace Tacos & Tequila, which had a relatively short tenure at Palace Station from April 2022 until its closure 16½ months later. For more information, patrons are encouraged to visit the Palace Station website at palacestation.com/eat-and-drink/lindo-michoacan.
e the rise of K-pop and remaining a beloved character across generations.
💲 Las Vegas Convention Center to Host Major Spring Job Fair Event
Southern Nevada job seekers have the opportunity to meet with over 120 employers at the upcoming Spring Job Fair, scheduled for March 8 from 9 a.m. to 2 p.m. at the Las Vegas Convention Center West Hall. Hosted by Clark County in collaboration with the EmployNV Business Hub, this annual event aims to facilitate on-the-spot hiring and job offers pending background checks. Commissioner Jim Gibson encourages attendees to approach the fair as they would a multi-employer interview, emphasizing that every employer present is looking to hire. Notable employers include the Rio hotel-casino, Nevada Barricade and Sign Co., Maverik, The Smith Center, Tao Group Hospitality, Fontainebleau hotel-casino, and Link Technologies. Job seekers can register in advance, upload their resumes for employer previews, and access several on-site resources such as free child care for specific ages, career coaching, and career exploration tools.
Summerlin Area Command - Week Ending: March 1, 2024
Courtesy of The Las Vegas Metropolitan Police Department. The entire report for all Area Commands may be viewed here.
📌🏠 Summerlin South - February 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌✅ We Want To Spotlight Your Business!
Would you like us to spotlight your local business in front of thousands of Summerlin South area residents in an upcoming issue of SummerSouth Insider?
We ❤️ Local Businesses!
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