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Message
1
Posted on 12/27/22 at 3:05 pm to BarleyPop
Where do you live?
Rates in Florida have skyrocketed because the insurance companies have been losing money. Many have just abandoned the state leaving less competition.
Rates in Florida have skyrocketed because the insurance companies have been losing money. Many have just abandoned the state leaving less competition.
Posted on 12/27/22 at 3:15 pm to TDTOM
TDTOM. My man. Thank you sir for the usable information. I'll update the thread after I hear back in case you and your neighbor can find anything useful in my experience.
As per warrior's advice, the safeco person I spoke with said there is no such thing as a rebuild appraisal. Don't shoot the messenger. I believe warrior.
She is contacting the underwriter to try and confirm a path I can take to challenge the rebuild cost and have safeco accept that number. She also didn't think they would accept contractor quotes. So basically it is what they say it is. Period.
As per warrior's advice, the safeco person I spoke with said there is no such thing as a rebuild appraisal. Don't shoot the messenger. I believe warrior.
She is contacting the underwriter to try and confirm a path I can take to challenge the rebuild cost and have safeco accept that number. She also didn't think they would accept contractor quotes. So basically it is what they say it is. Period.
Posted on 12/27/22 at 3:18 pm to PUB
quote:
Material price declines never matter. Once they raise the premium, it NEVER goes down for the same coverage.
I believe it. But they are specifically citing 'material cost' as 1 of the 2 factors causing the huge jump. So if they say, "prices doubled because material doubled, but now that prices are half we are just going to keep the premium double", then I have an arse they can kiss.
Posted on 12/27/22 at 3:21 pm to BarleyPop
quote:
Our HOI is up 60% in one year. They have doubled the cost of our dwelling coverage saying "inflation and labor". Hahahha!!! Who the frick are they kidding? Lumber has crashed all the way back to normal and the housing market is getting crushed.
We all know they are FOS. But if every insurance agency we call says the same thing....then what? Cuss them over the phone then pay whatever they want?
you sound dumb.
what next " I DIDN'T EVEN FILE A CLAIM YOU GUYZZ"
Posted on 12/27/22 at 3:23 pm to molsusports
quote:
Where do you live?
Rates in Florida have skyrocketed because the insurance companies have been losing money. Many have just abandoned the state leaving less competition.
Louisiana.
Look, if insurance companies have to charge triple or quadruple in high risk states, then just tell me that so I can move. Don't tell me material and labor when I can pull up the lumber chart in 3 seconds to see material and the housing industry is currently flatlined so labor isn't hard to find.
But they shouldn't be charging me to help cover hurricanes in South Louisiana.
Posted on 12/27/22 at 3:24 pm to BarleyPop
quote:
Look, if insurance companies have to charge triple or quadruple in high risk states, then just tell me that so I can move. Don't tell me material and labor when I can pull up the lumber chart in 3 seconds to see material and the housing industry is currently flatlined so labor isn't hard to find.
But they shouldn't be charging me to help cover hurricanes in South Louisiana.
it ain't all about lumber prices, jesus.
Posted on 12/27/22 at 3:27 pm to Chad504boy
quote:
you sound dumb.
what next " I DIDN'T EVEN FILE A CLAIM YOU GUYZZ"
I'm very dumb, Chad. So dumb, in fact, that I'm only right 100% of the time when I make currency and stock predictions in Money Talk. Sucks to be me.
Posted on 12/27/22 at 3:28 pm to Chad504boy
quote:
it ain't all about lumber prices, jesus.
If you could tell us what its all about, bullet by bullet, that would be extremely helpful. Seriously. Thanks in advance.
Posted on 12/27/22 at 3:41 pm to BarleyPop
It's about them having you by the balls. They don't care if you go to another company or state, because they're replace you if they even want to do that. Insurance is the biggest ponzi scheme ever invented.
Posted on 12/27/22 at 3:46 pm to BarleyPop
quote:
they shouldn't be charging me to help cover hurricanes in South Louisiana.
I agree if you think people in higher risk areas have to pay more. I tend to think the entire gulf coast has higher risk and should therefore have to pay higher premiums.
I dunno if this is just sample bias but have run into more than one person claiming to be against big government but all in favor of FEMA covering their under insured risk
Posted on 12/27/22 at 3:53 pm to BarleyPop
quote:
Homeowners
Guess this is a “no millenials allowed” thread
Posted on 12/27/22 at 3:56 pm to BarleyPop
quote:
If you could tell us what its all about, bullet by bullet, that would be extremely helpful. Seriously. Thanks in advance.
-Supply
and
-Demand
There's little supply of insurance options in the state.
So
They can Demand more of your money.
You're welcome.
Posted on 12/27/22 at 4:00 pm to BarleyPop
quote:We built a couple years ago. We were framing in Jan-Feb- March 2020. higher end home in (for) Covington. 4000 living/5900 under beam. Framing lumber was only about 6% of our build cost. Framing lumber and framing labor was just about 10% total.
it ain't all about lumber prices, jesus.
If you could tell us what its all about, bullet by bullet, that would be extremely helpful. Seriously. Thanks in advance.
Posted on 12/27/22 at 4:03 pm to Chad504boy
quote:
It's about them having you by the balls. They don't care if you go to another company or state, because they're replace you if they even want to do that. Insurance is the biggest ponzi scheme ever invented.
Drock beat you to it.
Posted on 12/27/22 at 4:13 pm to achenator
quote:
We built a couple years ago. We were framing in Jan-Feb- March 2020. higher end home in (for) Covington. 4000 living/5900 under beam. Framing lumber was only about 6% of our build cost. Framing lumber and framing labor was just about 10% total.
Ours is wood everything minus the obvious.
And holy shite thats alot of house.
Posted on 12/27/22 at 4:17 pm to BarleyPop
quote:
But they shouldn't be charging me to help cover hurricanes in South Louisiana.
You could always self insure.
quote:
Look, if insurance companies have to charge triple or quadruple in high risk states, then just tell me that so I can move.
If you need someone to tell you that I’ll just assume you are a retard.
Posted on 12/27/22 at 4:23 pm to BarleyPop
quote:just stating that lumber is probably less a percentage of the cost to build your home than you think it is.
Ours is wood everything minus the obvious.
And holy shite thats alot of house.
Posted on 12/27/22 at 4:25 pm to DRock88
quote:
It's about them having you by the balls. They don't care if you go to another company or state, because they're replace you if they even want to do that. Insurance is the biggest ponzi scheme ever invented.
Just confirmed by a Safeco Representative.
I was told I could come to them with quotes from 10 different contractors and they wouldn't change a thing. No matter how big the disparity. Ex. 400k in coverage even though contractors will line up to rebuild it for 200k.
Anybody sitting around and taking that shite is too comfortable. And to then go the extra mile and crap on people for speaking up about it...thats just pathetic.
Posted on 12/27/22 at 4:33 pm to TDTOM
My agent shopped it around and progressive gave me more coverage for $130/month less.
--
Dang. That's worth checking into.
--
Dang. That's worth checking into.
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