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2
Posted on 7/9/14 at 8:31 am to BeerMoney
I was in insurance for a long time with an independent agent and gladly left. You can get lower deductibles with shitty independent companies (that are not rate adequate, don't have the resources to handle a hurricane or any large-scale claim situation, and will eventually jack your rates up and tack on a wind deductible, or drop you and pull out of the state) or a 2/3% WIND/HAIL deductible with companies like Safeco, USAA, or Liberty Mutual, but, then you are susceptible to the higher deductible 365 days a year, every time the wind blows.
Baton Rouge area rarely gets hurricane damage, but we get a ton of wind and hail. It's a gamble.
I hate the insurance industry on LA.
Baton Rouge area rarely gets hurricane damage, but we get a ton of wind and hail. It's a gamble.
I hate the insurance industry on LA.
Posted on 7/9/14 at 8:32 am to ThePoo
Based on the article in the advocate, all will raise to 5% when you renew your policy.
Posted on 7/9/14 at 8:32 am to ThePoo
quote:
Yes in south Louisiana unless you have am old policy your big national brands either won't write you or you are getting a split policy
Allstate is writing a full blown policy threw a subsidiary called North Light in costal Louisiana. They can offer a 2% named storm deductible. So you get boned by tropical storms as well. Otherwise the rest of Louisiana can receive Allstate products with a 2% hurricane deductible.
Posted on 7/9/14 at 8:37 am to Elusiveporpi
Farm bureau is 2%.
It all depends on where you live right now whether you can get wind and hail coverage through a company or through the citizens program.
It all depends on where you live right now whether you can get wind and hail coverage through a company or through the citizens program.
Posted on 7/9/14 at 8:40 am to Shadowlink
Which most people around here don't even realize unless told by their agent that it is a north light policy. So these people think they are getting an Allstate policy but are really getting a north light policy with an Allstate stamp.
North light is not backed by the Louisiana guaranty fund and I'm pretty sure they also require you to switch your auto as well
North light is not backed by the Louisiana guaranty fund and I'm pretty sure they also require you to switch your auto as well
Posted on 7/9/14 at 8:41 am to Elusiveporpi
No big deal, when the big one comes like it did in aught five, they'll just claim flood and make the Feds take the liability. The check will say State Farm, of course.
Posted on 7/9/14 at 8:42 am to ThePoo
Most companies are requiring you to switch your auto now....
And Btw State Farm did that at the beginning you are just seeing it now b/c your home renewed.
And Btw State Farm did that at the beginning you are just seeing it now b/c your home renewed.
Posted on 7/9/14 at 8:46 am to HebertFest08
State Farm is essentially acting as an independent agent except they only have one company to and that company really isn't that good
I'd say a majority of homeowner's companies in LA can't really require you to switch auto has they do not insure autos. They will occasionally have partnerships with auto carriers but not require the switch
For instance ASI and progressive have a partnership
I'd say a majority of homeowner's companies in LA can't really require you to switch auto has they do not insure autos. They will occasionally have partnerships with auto carriers but not require the switch
For instance ASI and progressive have a partnership
Posted on 7/9/14 at 8:48 am to Skeeter 79
I'm going to have to look into Farm Bureau. Are their premiums reasonable? I'm sick & fricking tired of State Farm getting so sheisty.
Posted on 7/9/14 at 8:49 am to Breesus
quote:
Might as well set the thing on fire if anything were to happen to it........
quote:
Wow. Are you that poor and pathetic?
Not to mention that the policy will pay only for the damage caused by the storm and nothing for the arson fire.... that would be one hell of a funny slap back in the face
Posted on 7/9/14 at 8:49 am to Grit-Eating Shin
Very reasonable. What parish are you in?
Posted on 7/9/14 at 8:54 am to Slickback
quote:
I was in insurance for a long time with an independent agent and gladly left. You can get lower deductibles with shitty independent companies (that are not rate adequate, don't have the resources to handle a hurricane or any large-scale claim situation, and will eventually jack your rates up
mehh...
There are numerous consumer protections that make this statement a little BS. 1) state actuaries help with and approve rates. 2) they are in a legal nightmare if they take longer than 30 days to adjust and the policy pays additional costs to prevent further damage to your home 3) They can't just "jack up rates", again the state actuary comes into play. Rates certainly differ from carrier to carrier, but there is a bottom and a top. they can adjust their rates within that zone and cannot go higher without dept of ins approval (or they can leave the state)
Posted on 7/9/14 at 8:55 am to LSUtigerfan22
EBR
Posted on 7/9/14 at 9:01 am to Mr.Perfect
What rate increases did Bankers take over the past three years?
What is their deductible now?
How many adjusters do companies like GeoVera, Americas, Lighthouse, and Maison have?
What is their deductible now?
How many adjusters do companies like GeoVera, Americas, Lighthouse, and Maison have?
Posted on 7/9/14 at 9:16 am to Slickback
Bankers rates skyrocketed . Several companies really don't want to insure here so they increase their rates as much as they were allowed essentially prompting people in the area to drop them
A lot of companies do not have one deductible option
Maison is a relatively new company and they have offices in BR, they are killing rates in a lot of southeast LA, it's hard to tell how they will react in catastrophe as they are so new but they are backed by the Louisiana guaranty fund.
Lighthouse is hit or miss on customer service with a lot of miss
I would only go with Americas if I were in the Nola market
Avoid surplus lines carriers if possible
Maison is a company I would show interest in just because the rates, also a company called family security has been good in certain areas in south la. If you are less concerned with a price and want a proven company, ASI is a good choice
A lot of companies do not have one deductible option
Maison is a relatively new company and they have offices in BR, they are killing rates in a lot of southeast LA, it's hard to tell how they will react in catastrophe as they are so new but they are backed by the Louisiana guaranty fund.
Lighthouse is hit or miss on customer service with a lot of miss
I would only go with Americas if I were in the Nola market
Avoid surplus lines carriers if possible
Maison is a company I would show interest in just because the rates, also a company called family security has been good in certain areas in south la. If you are less concerned with a price and want a proven company, ASI is a good choice
Posted on 7/9/14 at 9:20 am to Slickback
quote:
What rate increases did Bankers take over the past three years?
according to the DOI Bankers is still one of the lowest out there
DOI Homeowners Ins Guide
I chose example 6 and Metairie
I would think that they SHOULD have brought their rates up to the market.
quote:
What is their deductible now?
Well let me read the policy
quote:
How many adjusters do companies like GeoVera, Americas, Lighthouse, and Maison have?
Do you even independent cat adjuster baw?
Posted on 7/9/14 at 9:27 am to Elusiveporpi
quote:
Mine is $1,000 with ASI
Posted on 7/9/14 at 9:28 am to Mr.Perfect
A couple of thoughts. That hurricane deductible is a loss that can be claimed under your taxes. I have no problem with the 5% deductible, what I have a problem with is the deductible change without decrease in premiums. As an insured, we should have have to carry a larger portion of risk for the same premium...
Posted on 7/9/14 at 9:34 am to wickowick
I agree. If State Farms exposure is now less, the premium should drop.
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