re: And it's only getting worse, multiple carriers left La on 1-1-2024

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The insurance on my rent houses went from 17k to a proposed 36k at renewal in April. When I picked them up in 2020 it was 9k. To add to my aggravation the last year of insurance we paid in full and then about 1/2 through they said ohh yea btw we think your houses are worth more so you owe us more right now. POS companies...somethings gotta change.

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The fear is that insurance companies are marketing with bait and switch tactics and teaser rates.

The reality in this market is that insurance companies without the ability to quickly realign large adjustments in premium (i.e. restrictions from the state department of insurance on renewals) are just going to leave the state.

Some problems are the fault of insurance companies.
The inability to portray loyalty discounts and loyalty features have left 90% of Americans feeling like the family who doesn't shop their insurance every single year is getting screwed.

That pattern of consumer behavior only drives up the acquisition cost for insurance companies (which is ultimately paid by the consumer).
I don't blame the consumer for this as the long tenured policyholders often supplied +premium which help offset low rates for driving in new customers.
At some point, we were going to wise up. Ironically, the end result is more cost built into what the we pay for the policy.