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 .

quote:

Originally posted by cas:
It's inflation, the absolutely nothing you've been getting for your money all this time now costs more.


I asked why it goes up every year, I was told the same, because of price increases, the replacement cost is greater. But... my policy is for X amount. What difference does it matter if it would cost XX, or XXX to replace my house, if you're only going to give me X anyway?

It happened to me last year. A big jump. I expect another jump this year.

Some of these long-term home policies include an automatic increase of replacement cost based on an inflation calculation. Over the course of years, this value becomes somewhat exaggerated. In the case of my last renewal, my premium increase of 16% was cut down to 4% by my agent adjusting this to a realistic number while still providing 100% replacement coverage. Might be worth looking in to.

My auto went up 18% and just got my homeowners and it went up 51%. My broker said said it was a combination of loss of a first year discount (We moved last year) and inflation. I think it may be a good time to shop around but leery of doing it myself. What companies have you all had good luck with? Is there a site that rates insurers that I can trust?

Amica - No Brokers, No Agents, NO Middleman...Just Insurance!

Our house has no mortgage, but I'm simply too chicken to take my chances without insurance.

Last year, $3500 dollars for the premium, and we expect it to be about 5K this year. We'll pay it and just have to live without liking it.

I told you about my friend, a very wealthy man with lots of property, mostly commercial. Never carried insurance because rarely does anything happen. He considers the cost of policies NOT paid as money he has saved each year.

But this year he lost his nice home-totally-on St Pete Beach, and several commercial buildings. He's certainly not happy, but figures he's still way head of where he'd have been if he'd had everything insured.

Me? I'm not wealthy or brave enough to do that. Milton was the first hurricane that actually hit us in a long, long time and Helene was pretty darn close. I hope it'll be another 90+ years before there's another one here, but I'm gonna pay the insurance premium when it comes next month.

Bob

quote:

Originally posted by mlee:
My auto went up 18% and just got my homeowners and it went up 51%. My broker said said it was a combination of loss of a first year discount (We moved last year) and inflation. I think it may be a good time to shop around but leery of doing it myself. What companies have you all had good luck with? Is there a site that rates insurers that I can trust?

Search around for independent brokers, get several at least two or three shopping your coverage. It's time consuming but can be done by email for the most part.

We've been able to drop quite a bit off the current issuer's renewal rate doing this.

Just wait until you get your car insurance renewal…

Our homeowners went from $970 to $1100+. Car insurance is up 50% from two years ago.



Seems to be a theme nationwide. I’ve heard as economy worsens and inflation rises so does insurance fraud and payouts. All of that combined is which is what drives the increases.

quote:

Originally posted by nhracecraft:

Amica - No Brokers, No Agents, NO Middleman...Just Insurance!

Kin is similar. Last time around, I got quotes from both Amica and Kin. Prices were very close. I went with Kin because of more flexibility in choosing coverage.