JL Sargent Posted November 5, 2021 Share Posted November 5, 2021 Are others seeing this kind of increase? Just got my bill for next years coverage. Payment due first of January. Seems excessive to me. I guess it's time to reevaluate our true insurance needs. 1 Quote Link to comment Share on other sites More sharing options...
jason str Posted November 5, 2021 Share Posted November 5, 2021 Same. Value amounts went up right with it. Quote Link to comment Share on other sites More sharing options...
avguytx Posted November 5, 2021 Share Posted November 5, 2021 I'm sure ours will, too. Not to mention the value of our house apparently went up $50k over the last year and I'm doe darn sure they won't decrease anything. Quote Link to comment Share on other sites More sharing options...
babadono Posted November 5, 2021 Share Posted November 5, 2021 Several years ago mine went up 200%. Could not get any other insurer at the time so I was forced to up my deductible to 30% or some such nonsense just to make it affordable. So basically i was only insured for a catastrophic loss. I have since qualified with the only other company the insures in my area so I changed companies. Now it is semi reasonable again but only if i insure my cars with them also. It is legalized robbery. 1 Quote Link to comment Share on other sites More sharing options...
JohnJ Posted November 5, 2021 Share Posted November 5, 2021 Yep I lost one of the last $100 deductible policies Allstate had in Clt, NC in July. But it was never my house actually even though I paid it. The home appreciated over 30% in the last six months I was there. Got out before the next tax bill came. They will always find a new way to raise it that makes sense to someone, somewhere. Quote Link to comment Share on other sites More sharing options...
The Dude Posted November 5, 2021 Share Posted November 5, 2021 I had recently learned to check every so often. Had Farmers for the longest time, no issues, not claims, occasional minor increase. About 2 years ago, we finished the basement and made some nice home improvements that with the rise of the housing market we knew our value was going up (tax assessment increased over $40k in one year). With our daughter starting to drive, we decided to shop around. Ended up with USAA with more coverage, better deductible, and lower rate. 1 Quote Link to comment Share on other sites More sharing options...
MEH Synergy Posted November 5, 2021 Share Posted November 5, 2021 Yes. Construction and material costs went up. Insurances submitted premium increases that were approved. I called multiple companies, all with the same story. Had my insurance go line by line and accurately adjust items as opposed to guesstimates that saved money. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted November 5, 2021 Share Posted November 5, 2021 4 hours ago, babadono said: It is legalized robbery. Try to remember that. Then apply it to health insurance. And so on... 2 1 Quote Link to comment Share on other sites More sharing options...
JJkizak Posted November 5, 2021 Share Posted November 5, 2021 Didn't the Mafia start the insurance industry? JJK 1 Quote Link to comment Share on other sites More sharing options...
OO1 Posted November 5, 2021 Share Posted November 5, 2021 Premiums are up 20-25% across North America ,and it 's just the beginning -shop around ---while you can Quote Link to comment Share on other sites More sharing options...
richieb Posted November 5, 2021 Share Posted November 5, 2021 My agent lives down the road, about 1/4 mile away. Been with him a little over a year, told him if my rates rise after one year I’d kill his dog. Rates haven’t changed - Quote Link to comment Share on other sites More sharing options...
oldtimer Posted November 6, 2021 Share Posted November 6, 2021 Ah, the new america. Quote Link to comment Share on other sites More sharing options...
geoff. Posted November 6, 2021 Share Posted November 6, 2021 ...I don’t have insurance, I consider it gambling and I almost lost the house last time I gambled 1 Quote Link to comment Share on other sites More sharing options...
carlthess40 Posted November 6, 2021 Share Posted November 6, 2021 Sounds like what they do to us here in Florida. They take your money for years and when other people make clams in your state from floods and other weather related things. You can call your state insurance commissioner and complain about it and if they get enough complaints they will make sure that they limit the amount of increase of policies that they can do Quote Link to comment Share on other sites More sharing options...
boom3 Posted November 7, 2021 Share Posted November 7, 2021 Speaking of Florida...I live there too...after 2004, the year of 4 named storms (none of which damaged us) a lot of insurers dumped policies, which is what Allstate did to me despite not filing a claim. I eventually wound up with St. Johns, which was very good to us after Michael, which wrecked half our house. They didn't cancel on me, either. My local agent (before Michael and after Allstate dumped me) told me that part of insurance policy premiums go to Citizens, the state-sponsored insurer of last resort here. So part of my insurance goes to subsidize properties that can't get insurance anywhere else. Not sure how I feel about that, OTOH, you have to have insurance to have a mortgage, OTOH, should people live in areas that are increasingly unsustainable? That question is going to become more urgent with climate change. Miami is already seeing it and in coastal Louisiana I foresee more communities abandoned over the coming years, between sea level rise and subsidence (which is the elephant in the room nobody wants to talk about). Quote Link to comment Share on other sites More sharing options...
thebes Posted November 7, 2021 Share Posted November 7, 2021 Shop all your insurance every three years. Overall property claims are maybe up a bit this year, but auto claims are way down, although highway deaths are much higher than they should be. The bottom line is that insurance companies have fat profits right now so they can underwrite prices better if they can pick up a new customer while doing it. The last thing in the world to ever have any loyalty to is an insurance company. Period. 1 Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted November 7, 2021 Author Share Posted November 7, 2021 47 minutes ago, thebes said: The last thing in the world to ever have any loyalty to is an insurance company. Period. So true. 1 Quote Link to comment Share on other sites More sharing options...
Seadoc Posted November 7, 2021 Share Posted November 7, 2021 Have not have a premium increase in years. Home value has risen 150%. Ask for "bundle" discounts-if applicable. Ask for over 60, old folks boogie, discounts-if applicable. Ask for Veterans discounts-if applicable. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted November 7, 2021 Share Posted November 7, 2021 4 hours ago, Seadoc said: Have not have a premium increase in years. Home value has risen 150%. Ask for "bundle" discounts-if applicable. Ask for over 60, old folks boogie, discounts-if applicable. Ask for Veterans discounts-if applicable. I called up my State Farm guy and asked him to cut me some slack. He said try the dinguss that you plug into your test jack to monitor your speed and it will save you 10 bucks a month. I said how much does the dingus cost? He said 10 bucks a month. End call. JJK Quote Link to comment Share on other sites More sharing options...
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