Home insurance!

[NYlakesider]

After hearing and seeing horror stories of heavy duty raises in home insurance I got my renewal notice yesterday.

Got a glass of my favorite beverage (my well water) and sat down and slowly/carefully opened the envelope.

To my chagrin it was only up 95 dollars from last year.

I guess contrary to popular belief you cannot believe everything you hear.

 

[pharmer]

In the last 4 years our home insurance went from $850/yr to $4K. Not all in one whack just steady, annual, "holy ****" increases. And that's after replacing a 15 y/o roof. Auto doubled in the same time frame. "They" can charge whatever they want. Joe

 

[Tom S.]

READ YOUR POLICY!!!! Insurance companies have been dropping some coverage to keep policy costs down so people don't up and leave for another company. So check and make sure you still have the coverage you want!

 

[mojave30cal]

Home values go up, so does insurance. Same for automobiles.
Tough on us retired folk.

 

[yaktamer]

Sewer company is seeking a 52% rate hike. Seems like an absurd increase, until you realize that they are deep in the red having inherited a mismanaged and inadequate system in a court-ordered, public health-based divestiture from the prior owner/scammer.

 

[NYlakesider]

READ YOUR POLICY!!!! Insurance companies have been dropping some coverage to keep policy costs down so people don't up and leave for another company. So check and make sure you still have the coverage you want!

Good advice! I did check things.

For the record I have both this and my auto insurance through this company. That helps out for both kinds of policy's!

 

[dockmurgw]

Tough on us retired folk.

Tough on all folk to. Retired AND working.

 

[Bald1]

My homeowners renews this month. It went up $60 a yr. But my coverage also went up a bit. Every yr coverage goes up. For inflation mostly. Some yrs I agree to coverage increase and some yrs I don't. Mostly I don't.

 

[wood714]

In the last 4 years our home insurance went from $850/yr to $4K. Not all in one whack just steady, annual, "holy ****" increases. And that's after replacing a 15 y/o roof. Auto doubled in the same time frame. "They" can charge whatever they want. Joe

Same with me, and almost the exact same numbers.

I have great coverage. My deductible is $500 including hurricane damage. All my friends have some kind of percentage deductible on hurricanes.

 

[Jon651]

After hearing and seeing horror stories of heavy duty raises in home insurance I got my renewal notice yesterday.

Got a glass of my favorite beverage (my well water) and sat down and slowly/carefully opened the envelope.

To my chagrin it was only up 95 dollars from last year.

I guess contrary to popular belief you cannot believe everything you hear.

Two years ago our home insurance went from $1600/yr to $3400/yr. Last year it went up another $600+. This year we were told our current policy will not be renewed because it is "too lucrative" so we will have to start a new policy with fewer benefits - and probably another hike in rates.

Last year our Governor called a special session of the state legislature specifically to handle the homeowner's insurance crisis. What did they end up doing? Giving the insurance companies a break by limiting awards in tort claims with the hope that some of that savings will "trickle down"... I am NOT happy!

 

[Kevin J.]

Not just home insurance but car insurance as well. Repair costs of any kind have gone crazy. This rear end hit totaled the car. The estimate for repair came to $13K so the insurance company opted to call it a total loss.

 

[Rudi]

Mine went up $75 over last year. Oh well.

 

[chief38]

Our insurance has gone up over 25% in the last 2 years - AND we have never ever had a claim. All my neighbors and friends here are experiencing similar rate hikes - guess we are all in the same boat.

 

[DWalt]

My combined home and car insurance premiums (same carrier) very nearly doubled from what they were two years ago. Now nearly 8K. And that is with about an 8K deductible on the house and liability only on two vehicles. I work through an independent agency, and they claim that is the best deal they can find. See no differences between the insurance companies and the Mafia.

 

[Roofuss]

Several months ago we had to make some minor fire prevention changes around our place per our homeowners insurance company. So after dropping close to $6K on the improvements, I sent pictures to the company showing what was done. A few days later, we get a letter stating they were satisfied with the upgrades and our insurance policy had been renewed. Oh, and by the way your insurance is going up $ 575. a year for the same coverage !! We have all our insurance policies { home, auto, and atv } with the same company, and always pay on time, so thanks for that, lol !

 

[Maddog 521]

Our home owners went up 40% this year. The insurance company blames all the hurricanes and tornadoes for the increase. We shop ours every year and they all say the same thing. I know they have to make a profit or they'll go out of business but this is unbelievable sometimes. Autos didn't increase by much.

 

[CAJUNLAWYER]

Same with me, and almost the exact same numbers.

I have great coverage. My deductible is $500 including hurricane damage. All my friends have some kind of percentage deductible on hurricanes.

What company is writing you with a flat $500 deductible for hurricane damage! I want in!!!!!!!!!!!!

 

[grover99]

I was waiting to see what my car insurance would do when it renewed So When I got the bill I was happy because after what I had been reading mine only went up $10 a month or $60 for the 6 month term. I can only hope next year things will get better and this inflation will slow down. What the man claims the rates of inflationary are and what I see day by day are two different things.

 

[steelslaver]

Mine is right at a grand a year and insurance for my truck and 2 cars $600 every 6 Months.

But, there aren't any hurricanes here, very few tornadoes and the ones that do come are small, I live on a ridge so no need for flood insurance. Crime is very low.

 

[SMSgt]

The insurance companies claim the "roofing scams" are driving up the insurance costs, but then the insurance companies come around and tell you your 10-year-old roof--regardless of condition--has to be replaced to get/keep their coverage. So who is scamming whom?