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Homeowner insurance cost question
Posted on 5/7/24 at 7:21 pm
Posted on 5/7/24 at 7:21 pm
So I'm a relatively new homeowner. I am in my first home. homeowner insurance costs are new to me and what is the norm.
i live in metairie area. I am just curious what everyone in the south Louisiana area is looking at these days.
my insurance costs for homeowner has ballooned from 3k a year in 2020 to 12k this year. feel like I'm getting fleeced. I'm out there getting quotes now but don't know what to expect as an average. my coverage is for 400k.
i live in metairie area. I am just curious what everyone in the south Louisiana area is looking at these days.
my insurance costs for homeowner has ballooned from 3k a year in 2020 to 12k this year. feel like I'm getting fleeced. I'm out there getting quotes now but don't know what to expect as an average. my coverage is for 400k.
Posted on 5/7/24 at 7:55 pm to caro81
I’m in SWLA so not necessarily close to you but I have slightly more coverage and I’m paying about $3800/yr. There’s a lot that goes into these calculations. Age of home, type of building materials etc., previous claims…. I fought tooth and nail to get my carrier to lower my replacement value to around $480k. They had it around $650k with a $8k/yr premium. I don’t have a mortgage so I had more wiggle room than most people.
Posted on 5/7/24 at 9:00 pm to caro81
It's all a mess right now. I can tell you I had more than a few friends that were paying more for contents than they needed. Many people are paying more so the wife has a remodeling budget
Posted on 5/7/24 at 10:08 pm to caro81
I was paying close to nothing before 2021. Company went insolvent and now I'm paying double what I originally paid but I'm actually covered for more than what my home was valued at. Rates went up because of storms the last few years and will probably go up as more carriers decide not to make policies in Louisiana. They're trying to get ahead of the curve and recoup their future losses at a higher rate of return.
Posted on 5/8/24 at 7:42 am to caro81
Was in same situation in metairie, reached out to Brightway insurance group and got SageSure to quote me $3300 a drop from my previous premium of 7k
Posted on 5/8/24 at 7:59 am to caro81
Got got my renewal yesterday. $1950 for 535K dwelling coverage. Home was built in 2022.
Posted on 5/8/24 at 9:25 am to caro81
Moved to Covington 6 years ago, basically different carriers every year, especially after Ida.
3700 sq ft, insured for $700k on dwelling, It's $4200 this year through Homesite. Last year was $2800 through Homesite.
I've paid from $2500 in 2018 to $4500. I'm dreading the year I can't hop around to something under $6 or $7k.
3700 sq ft, insured for $700k on dwelling, It's $4200 this year through Homesite. Last year was $2800 through Homesite.
I've paid from $2500 in 2018 to $4500. I'm dreading the year I can't hop around to something under $6 or $7k.
Posted on 5/8/24 at 11:57 am to caro81
Live in River ridge and just changed to USAA. Paying 3800 per year for everything. Coverage of 350k dwelling
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