does that include wind and hail?

I was visiting with my independent agent yesterday ( he represents 8 +/- companies & he has visited with several other agents) and none of his companies and several other companies are not accepting new homeowner customers (with replacement cost in Texas and it may be the same elsewhere) so be careful about changing companies.

Mine went up $1000 (33% increase) for 2023. I’ll find out end of next month (renews in early January) how bad the blood bath for 2024 will be No claims or anything in a decade.

See what happens when you have stuff !

You feel the need to insure it

How much money would you have in your mattress if you would have stuffed it with money instead of paying insurance bills?

Mine went up over 50%! That's living in Florida nowadays.

Switched auto & home insurance this year due to the major increases.

If it makes you feel better, my escrow just went negative because of that. Trying to figure it out with the mortgage company...

Ours goes up every year. For '23 it went up to just over $3k. Fortunately, my wife decided she'd pay it, and I reluctantly agreed. She is wonderful! But it is almost that time of the year again, and I double she's gonna volunteer.

Car insurance is crazy, too. We've had State Farm since the 80s, maybe longer. Reluctant to change because in Florida, if you've had a policy with the company for, IIRC, five years, they gotta have a reason to cancel you. Can't just decide to dump you or not renew you. Chapter 626.9702 explains and gives some reasons they can and can't dump a policy holder.

Bob

quote:

Originally posted by snwghst:
does that include wind and hail?

Yes Sir - Where we live in East Central MS., we see hail here most every spring when the tornados (wind) are prevalent. Dropping these two would save me a little bit, but I wound hate for the insurance company to use either of these as a means to not cover us in the event of a tornado direct hit.

THANKS to everyone who responded and provided your own personal details.

Having read all of these responses tells me that I just need to suck it up, be thankful that I have a good track record with a very good, financially stable insurance company that has multiple agents and a claims department in my home town.

Thanks again everyone for posting your comments. Mark

Are all these increases mainly in the South? I’m asking because I’m with State Farm and my insurance, both auto and homeowners have remained stable over the past few years and I am not seeing these increases, thank God.

No claims on homeowners yet since I’ve become a homeowner and it’s been a long time for auto, maybe that plays into it?

Hey guys, it’s been a long while since I posted anything, but I had to come in on this thread, mine will be up from $1500 to $2200! This is painful!

My house insurance hasn't gone up (yet), but my car insurance just went up about 30%, despite being with the company for 20+ years and having a clean driving record and no claims.

I just had a $46K roof replacement in MS, so yeah I'm expecting at least that much. Not that they experience rate individual homeowners of course.....

I've had USAA for 40 years. A few auto claims here and there, but no homeowner claims ever.

We moved to another location 2 years ago. In comparison, since then, our auto insurance has increased just under 2%, but our homeowner's insurance has increased 44%! We are far inland, and I'm not aware of any other perilous zones we live in.

The jump reminds me of the med insurance jump when Obamacare started.

I just checked mine. Up 17.7% last year. Up 12.2% the year before.

quote:

Originally posted by PASig:
Are all these increases mainly in the South? I’m asking because I’m with State Farm and my insurance, both auto and homeowners have remained stable over the past few years and I am not seeing these increases, thank God.

No claims on homeowners yet since I’ve become a homeowner and it’s been a long time for auto, maybe that plays into it?

My homeowners went up 10% this year and 10% last year. In contrast my paycheck has gone up 5% gross (net less that that because health insurance witholding has increased as well). I live in Northern Indiana...about the least natural-disaster prone area imaginable, and we've never had a claim. Any repairs or improvements I've paid for myself, despite some of the door-to-door roof and siding hail damage grifters trying to convince me to do otherwise.

A big part of it is inflation...the government printed a bunch of money and everybody thought that was cool when they were getting stimulus checks, but it killed the buying power of a dollar, and now materials are more expensive making replacement costs higher so insurance premiums go up.

Another part of it is the insurance companies are also looking to our premiums to cover their losses in "more exciting" parts of the country where everything gets blown over, flooded, or set on fire every couple of years.

The real kick in the teeth is that my oldest just turned 16 and got his license, so my car insurance premiums have doubled too.

My homeowners just went up 14% for the next year. 2023 was my first full year in this house so I don't have any history before that. Auto insurance went up 6.5% this month. Both are through State Farm, I've been with them for decades.

quote:

Originally posted by Expert308:
My homeowners just went up 14% for the next year. 2023 was my first full year in this house so I don't have any history before that. Auto insurance went up 6.5% this month. Both are through State Farm, I've been with them for decades.

You are lucky. I'm also with State Farm and my auto went up 20% overnight back in May and my homeowners went up 20% overnight in October.

No auto claims in 10+ years

Have NEVER filed a homeowners claim

The people who do the right thing and pay without complaint are now subsidizing all the illegals driving without insurance and getting in wrecks.

Mine increased as well. It doesn’t help that most of my neighbors have made claims to have their roofs and siding replaced due to hail damage. I can’t remember the last time we had a hail storm.

quote:

Originally posted by konata88:
It sounds like, out here, we are going to be forced to eliminate trees and shrubs near the house that might remotely be a fire risk. Anything within 5 feet of the house and / or above the roof line. Even with tiles. Even if they are mature and have been there for decades. Under threat of rising rates and or policy cancellation.

They can also tell you to replace your roof or risk being dropped .