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Started By
Message
State Farm Raising Hurricane Deductibles to 5% in LA?
Posted on 3/27/14 at 3:01 pm
Posted on 3/27/14 at 3:01 pm
I received my policy renewal documentation in the mail today and noticed they are raising hurricane deductibles for all State Farm homeowners to 5%. Has anyone else gotten this? It can't be statewide, because this seems to be the first I have heard of it.
Do you think there is any recourse to this? I'm thinking about jumping ship if I can get a lower hurricane deductible somewhere else.
[URL=LINK ]
Do you think there is any recourse to this? I'm thinking about jumping ship if I can get a lower hurricane deductible somewhere else.
[URL=LINK ]
7
Posted on 3/27/14 at 3:05 pm to TigerRob20
Dang.
I'm curious... what was the change in premium with this change in deductible?
I'm curious... what was the change in premium with this change in deductible?
Posted on 3/27/14 at 3:08 pm to TigerRob20
quote:We're shopping around and I just got a quote from SF and it says 5%. Ridiculous
State Farm Raising Hurricane Deductibles to 5% in LA?
Posted on 3/27/14 at 3:08 pm to LSUFanHouston
Thats the thing. My premium didn't change at all. I had a 2% deductible last year, and then they pull this shite.
I just had them reject my claim for a new roof (on a 18 yr old roof). I'm really about done with SF.
I just had them reject my claim for a new roof (on a 18 yr old roof). I'm really about done with SF.
Posted on 3/27/14 at 3:13 pm to TigerRob20
quote:
Thats the thing. My premium didn't change at all. I had a 2% deductible last year, and then they pull this shite.
So basically instead of them jacking up your premium this year, they jacked up your named storm deductible.
Probably time to shop around.
Posted on 3/27/14 at 3:15 pm to TigerRob20
I was told the rate remained at 2% for policy holders who also got their auto insurance from State Farm, but I don't know if that is really true.
Posted on 3/27/14 at 3:26 pm to Poodlebrain
Poodle, will find out in a couple of months. Two houses and 3 vehicles. One house renews in Sept and one in Oct. Even at 2% deductables were 6300 & 2400.
Posted on 3/27/14 at 3:26 pm to TigerRob20
I have auto and homeowners with Farm Bureau of LA. 2% deductible for named storms. Give them a call. If you are in Lafayette I can give you my guys' contact info.
Posted on 3/27/14 at 3:29 pm to TigerRob20
It's statewide now according to my SF agent in BR.
Posted on 3/27/14 at 3:31 pm to Poodlebrain
quote:It's not.
I was told the rate remained at 2% for policy holders who also got their auto insurance from State Farm, but I don't know if that is really true.
Posted on 3/27/14 at 3:34 pm to LSURussian
State Farm has some of the highest rates around on both home and auto. I'm glad I got rid of them.
Posted on 3/27/14 at 3:35 pm to LSURussian
Much better deals out there than SF anyway, not sure why y'all haven't shopped around already.
Posted on 3/27/14 at 3:39 pm to iknowmorethanyou
I have shopped. SF is competitive. I get discounts for loyalty, low claims experience and for multi lines of insurance.
The only time I had a claim was Hurricane Gustave. They paid me more than I thought they were going to and they paid within about 15 days so I'm not complaining.
The only time I had a claim was Hurricane Gustave. They paid me more than I thought they were going to and they paid within about 15 days so I'm not complaining.
Posted on 3/27/14 at 3:41 pm to LSURussian
That 5% deductible is bullshite. I'm at $1,000 all perils south of I-10.
Posted on 3/27/14 at 3:42 pm to iknowmorethanyou
Who is your policy with?
But you know more than me......
But you know more than me......
Posted on 3/27/14 at 3:44 pm to LSURussian
ASI
Posted on 3/27/14 at 3:45 pm to iknowmorethanyou
Never heard of 'em.....
Posted on 3/27/14 at 3:47 pm to LSURussian
They don't have a bazillion dollar advertising budget. I'd rather have a $1,000 deductible and get paid in 30 days than a $18,000 deductible and get paid in 2 weeks.
Posted on 3/27/14 at 3:51 pm to iknowmorethanyou
There's still the issue of the premium amount. I have $2 million liability coverage on both my house and auto coverage. Not all companies will offer that, I've learned. SF does.
Posted on 3/27/14 at 3:53 pm to LSURussian
$1900/yr for $347,000 replacement cost. $180/yr for my umbrella
ETA: It just renewed so I have the specs right here on my desk. I'm not trying to argue, just letting you and the OP know that viable options exist.
ETA: It just renewed so I have the specs right here on my desk. I'm not trying to argue, just letting you and the OP know that viable options exist.
This post was edited on 3/27/14 at 3:55 pm
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