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Posted on 3/29/24 at 11:03 pm to MrLSU
i would like to take this opportunity to sincerely say "frick State Farm."
Posted on 3/29/24 at 11:16 pm to MrLSU
Hm, I wonder if government actions that increase inflation, cause diesel to cost more, etc., have any impact on what it takes to manufacture and ship shingles, for instance. Who would have seen that coming.
My auto insurance increased bigly (not with SF), but I pulled my Lexis Nexis report today, and it's not due to vehicle telemetry information. I'm not defending State Farm in any way.
My auto insurance increased bigly (not with SF), but I pulled my Lexis Nexis report today, and it's not due to vehicle telemetry information. I'm not defending State Farm in any way.
Posted on 3/29/24 at 11:43 pm to Obtuse1
quote:
self-insure
I "self-insured" my primary residence for a few years and eventually went back to paying a premium. It would've been just too big of a financial hit for me to take.
Everytime I left the house I'd wonder if It was going to burn down because I left a light on. When a storm would come though and a tornado warning triggered the county's sirens it would make my heart skip a beat. Decided it just wasn't worth it for my risk appetite.
Posted on 3/30/24 at 3:00 am to tankyank13
Not bad considering deductible went up to 5% of coverage, doubled to over 12K. Might as well self insured for a new roof.
Made it with no Katrina or Ida claims.
Insurance is 100% a scam.
Made it with no Katrina or Ida claims.
Insurance is 100% a scam.
Posted on 3/30/24 at 5:42 am to MrLSU
In south Lafayette, my homeowner's insurance premium in September 2023 was up 80% compared to 2022. I have Shelter Insurance.
Posted on 3/30/24 at 6:36 am to piratedude
quote:
ould like to take this opportunity to sincerely say "frick State Farm."
Yea, screw them. How dare they try to remain in business!!
This is like the black mayors coalition thread. Blame the businesses for the crime, not the actual people committing the crimes.
By saying this, it means you don’t understand how insurance works. When a lot of people have a lot of expensive losses, insurance companies don’t just eat all that loss. They raise prices to combat the losses and increases costs of everything. People also are using insurance for small losses that used to be eaten up by the deductible.
But keep blaming the insurance company and don’t worry, there will be nobody providing insurance in the state.
Posted on 3/30/24 at 7:14 am to BoogaBear
Bond markets as well as materials and labor costs are just as impactful on the rates.
Posted on 3/30/24 at 7:25 am to MrLSU
quote:
I may just pay off the mortgage and self insure because this new renewal amount is outrageously insane.
That’s what I did with my rental unit. Premium was 2k for 200k coverage. I was ok with that until company sent an updated letter the following month doubling the premium. So I cancelled it and by end of April, it would be one month.
Last month I called around to get some quotes. Citizens was the only game in town. 3k premium for 300k coverage but get this. 10k deductible with 5% hurricane. So I’m out 13k-18k before I can get a penny back if anything happens. frick all that. I just have a liability coverage now.
This post was edited on 3/30/24 at 7:29 am
Posted on 3/30/24 at 8:23 am to jscrims
Yet I just read a thread recently where insurance companies are raking in record profits. So which is it?!
Posted on 3/30/24 at 8:28 am to MrLSU
quote:
Mine jumped up another $12,406 from last year’s premium. $27k this year is absurd.
I was there three years ago. Keeps going up every year. This year it’s over 65k
This post was edited on 3/30/24 at 8:32 am
Posted on 3/30/24 at 8:29 am to JAMAC2001
Health insurance?
Posted on 3/30/24 at 8:35 am to MrLSU
Mine went up 40% from last year.
365% increase in premiums since 2020 (there have been 3 insurers over the 4 years)
365% increase in premiums since 2020 (there have been 3 insurers over the 4 years)
Posted on 3/30/24 at 8:35 am to JAMAC2001
Ask Gov Landry to put back the money he cut from Fortify your Home program. Raise your deductible as much as possible. Save repayment of your interest free loan to the government for your hurricane deductible instead of blowing at Bass Pro
Posted on 3/30/24 at 9:01 am to MrLSU
Just got my renewal price increase with no lube. Home insurance now over 11k and I live in a place that will never flood. shite is ridiculous
Posted on 3/30/24 at 9:06 am to goinallout
quote:
Fortify your Home program
Seems like this fizzled out. I heard it worked well in Alabama. Not sure why they wouldn’t try to fund it to the max here.
Posted on 3/30/24 at 9:45 am to YeastExtract
It worked very well. Landry gutted it to $3 million. I don't remember what Donelon had started with, but it quickly was used up by La. homeowners. I think a grant of $10k to strengthen your home
Posted on 3/30/24 at 11:47 am to Jones
quote:
Just got my renewal price increase with no lube. Home insurance now over 11k and I live in a place that will never flood. shite is ridiculous
And the weather nerds are saying that we will move from El Nino to La Nina this spring. That combined with warmer Atlantic MDR we are probably looking at an active season.
I am not wishing for this but I hope people in costal areas are ready. Not looking forward to an active season.
It would be great to have no storms make landfall for a few years but that probably wont happen.
Posted on 3/30/24 at 11:00 pm to jscrims
quote:
it means you don’t understand how insurance works.
i understand how insurance works. I don't understand how paying premiums for at least one house since 1979, and three houses much of the time, and having total claims of $6,000 during that time, with the last claim being from Gustave brings State Farm to the conclusion that they should cancel both current policies for "excess claims." Even my agent agreed that it made no sense. so, i stand by my statement "frick State Farm"
Posted on 3/31/24 at 8:52 pm to piratedude
27k for a house that has never had a claim on it with hurricane strength glass doors/windows, steel beam support structure, and commercial grade metal roof. If just insane.
Plus they increased the deductible to 2% for Hurricane/Named storm.
Guess I’ll increase the 5k deductible to see if that will lower this premium.
Plus they increased the deductible to 2% for Hurricane/Named storm.
Guess I’ll increase the 5k deductible to see if that will lower this premium.
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