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Started By
Message
Welp - Got My Homeowners Insurance Renewal Today. 52% Increase in Premiums.
Posted on 1/3/24 at 11:32 am
Posted on 1/3/24 at 11:32 am
Last year, my premium was $2,603.55. Got my renewal today and it's gone up to $3,956.13. Have a 2% hurricane deductible already.
I'm not even sure it's worth shopping around. I'll contact my agent and ask, but needed to vent a bit.
Renewal for auto came in as well. And it went up 10%.
43
Posted on 1/3/24 at 11:33 am to lnomm34
Welcome to the club!
Posted on 1/3/24 at 11:34 am to lnomm34
What company?
Posted on 1/3/24 at 11:35 am to lnomm34
Welcome to last year bud.
Surprisingly I got a quote that was $200 less than my renewal with AllState.
Surprisingly I got a quote that was $200 less than my renewal with AllState.
Posted on 1/3/24 at 11:35 am to lnomm34
I've had 4 years of at least a 50% increase....last year they wanted to increase it 85% until I shopped it.
Posted on 1/3/24 at 11:36 am to dyslexiateechur
Foremost
Posted on 1/3/24 at 11:37 am to lnomm34
quote:
I'm not even sure it's worth shopping around.
Do it. Insurance companies are notorious for milking their long term customers.
Also, I was due for a sizeable increase this year but asked my agent to shop around. I ended up sticking with the same company, but moved my car insurance to them to get a bundle discount as well as lowered some coverage amounts where my agent said I was overinsured vs. the average, so the big increase became no increase.
Posted on 1/3/24 at 11:37 am to lnomm34
Same boat, from Safeco.
Reason I’m not bitching more is that the quote on a new policy I got last week started even higher than that.
The agent on the other end of the phone figured the specs on the house may have been wrong to get that but I said that the market in this state has been screwed for a while, so it is probably right.
Reason I’m not bitching more is that the quote on a new policy I got last week started even higher than that.
The agent on the other end of the phone figured the specs on the house may have been wrong to get that but I said that the market in this state has been screwed for a while, so it is probably right.
Posted on 1/3/24 at 11:39 am to teke184
Be sure to send a Thank you note to the Plaintiff's Bar for all this....
Posted on 1/3/24 at 11:40 am to lnomm34
It's a racket. Insurance agents are the new ambulance chasers. Show me an insurance agent that isn't living high on the hog.
Posted on 1/3/24 at 11:42 am to secfballfan
quote:
Be sure to send a Thank you note to the Plaintiff's Bar for all this....
Enjoy those bad faith verdicts and thank LSU for taking money from the scum PL attorneys.
Posted on 1/3/24 at 11:42 am to riverparish
We have a ACV policy because replacement for my house would be over a mil. I just want my mortgage paid off if something happens.
This post was edited on 1/3/24 at 11:44 am
Posted on 1/3/24 at 11:43 am to riverparish
The agents don’t set the rates moron
Posted on 1/3/24 at 11:44 am to lnomm34
I also have Foremost. Thanks for the heads up. I guess I know what to expect in June. Just took a 30% increase hit on my truck insurance, too.
Posted on 1/3/24 at 11:45 am to Bucktail1
Not sure I would shop around if I lived in Louisiana. Might have a very hard time finding anything comparable and you would be starting over and could face being dropped and being forced into the state's insurance.
Posted on 1/3/24 at 11:45 am to lnomm34
After Ida I'm paying $1,138 a month for builders risk only.
Posted on 1/3/24 at 11:48 am to secfballfan
quote:
Be sure to send a Thank you note to the Plaintiff's Bar for all this....
Don't know how you blame them for homeowner's insurance. You can thank natural disasters for that.
Now if you are talking auto insurance, ok.
Posted on 1/3/24 at 11:51 am to lnomm34
I wish mine was your new premium. Mine is over $7k from $3k in 2 years.
Posted on 1/3/24 at 11:52 am to Bucktail1
quote:
The agents don’t set the rates moron
Lawsuits chase providers out of the state
People in state still need providers to replace the missing ones
Rates go up because the risk pools end up fricked up due to too many insured under one company, especially if it turns out to be relatively undercapitalized
Posted on 1/3/24 at 11:53 am to lnomm34
Happened to me too in SC and I’m not in a wind or flood zone. Couldn’t find anything cheaper. The word was the cost of construction is up significantly and I had a claim in 2023.
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