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re: Homeowner’s Insurance is collapsing in LA - UPC gone, Cajun now gone - rates up 40%
Posted on 3/22/23 at 11:00 am to ibldprplgld
Posted on 3/22/23 at 11:00 am to ibldprplgld
quote:
and we make too many unnecessary claims.
This is way worse of a problem with homeowners insurance than suing. Louisiana residents, for some reason, have this massive mindset of “I pay for insurance, I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal. Homeowners insurance is not meant to be a home maintenance program. Use it for major losses instead.
5
Posted on 3/22/23 at 11:29 am to TDsngumbo
quote:
and we make too many unnecessary claims. This is way worse of a problem with homeowners insurance than suing. Louisiana residents, for some reason, have this massive mindset of “I pay for insurance, I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal. Homeowners insurance is not meant to be a home maintenance program. Use it for major losses instead.
Roofing companies rove about after every thunderstorm to find “hail damage”. Homeowners never think they should ever replace their own roofs at the end of their expected life. They just need a storm to roll through so they can try to get their insurance to replace their 20 yr old roof.
Posted on 3/22/23 at 12:11 pm to TDsngumbo
quote:
I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal.
So at what point do you decide that it is not worth spending 5-10 thousand on insurance a year and you get nothing in return when you do have an event that you need it and they drop you for making a claim or the company goes out of business.
Posted on 3/22/23 at 12:59 pm to TDsngumbo
The having your contractor buddy write inflated invoices done caught up.
Posted on 3/22/23 at 1:57 pm to TDsngumbo
quote:
This is way worse of a problem with homeowners insurance than suing. Louisiana residents, for some reason, have this massive mindset of “I pay for insurance, I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal. Homeowners insurance is not meant to be a home maintenance program. Use it for major losses instead.
The vast majority of South LA has had their roof / gutters / siding replaced in the last three years, due to claims.
Posted on 3/22/23 at 2:12 pm to TDsngumbo
quote:
This is way worse of a problem with homeowners insurance than suing. Louisiana residents, for some reason, have this massive mindset of “I pay for insurance, I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal. Homeowners insurance is not meant to be a home maintenance program. Use it for major losses instead.
It is almost as if people cannot read "sudden and accidental"
This post was edited on 3/22/23 at 2:13 pm
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