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cable
Member since Oct 2018
5811 posts
 Online 

Anyone else seeing crazy increases to homeowner's inusrance?

I have USAA and my premium went up 25% in one year - I've made no claims - I'm a little po'd, but they're claiming it's the increase in cost of materials etc. What is everyone else seeing with other companies?


ItzMe1972
Member since Dec 2013
6516 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
A friend said his son's rent house insurance jumped 39%.

He called and they said inflation/cost of materials were the main reason.


KI5NKM
Member since Jul 2021
24 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
quote:

I have USAA and my premium went up 25% in one year


Same


TDsngumbo
USA Fan
Alpha Silverfox
Member since Oct 2011
32952 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
quote:

but they're claiming it's the increase in cost of materials etc

That’s bull shite. That extra cost is why you have the automatic inflation guard that increases coverage amount each year. Much of the increase is them sticking it to us due to the hurricanes.

That said, I have USAA and am very happy with my two claims over the past year.
This post was edited on 1/11 at 10:33 am


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TimeOutdoors
Mississippi St. Fan
AK
Member since Sep 2014
8866 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
I heard on the news a few weeks back that home insurance was going up, but I thought they were predicting about 5%. 25% sounds crazy.


Popths
LSU Fan
Baton Rouge
Member since Aug 2016
3165 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Thanks Sleepy Joe


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NASA_ISS_Tiger
LSU Fan
Huntsville, Al via Sulphur, LA
Member since Sep 2005
7589 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Even if you don't live in a hurricane or earthquake zone your premiums will likely go up: They use places like where we live to pay for those areas where they lose money (hurricanes along Gulf Coast, Earthquakes/mud slides/fires out West).

USAA actually admitted to that one time in an interview. I wish I could find it. It sucked but shockingly refreshing to hear someone actually tell the truth.


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Darla Hood
LA-Lafayette Fan
Near that place by that other place
Member since Aug 2012
11578 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Our Liberty Mutual policy jumped up a little over 35% in 2020, and our only previous claim we’d made was in 2003, 17 years prior. We switched to Allstate and our premiums are much lower, but we did see a recent increase, I think 10%. I think the Liberty Mutual jump seemed so crazy that I barely noticed this increase.


mikie421
LSU Fan
continental shelf
Member since Nov 2008
552 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Just had my renewal in early December, went from $3100 to $4700.

I was able to secure a new policy for around what I was paying before.


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TDsngumbo
USA Fan
Alpha Silverfox
Member since Oct 2011
32952 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
quote:

We switched to Allstate and our premiums are much lower

As a former Allstate employee, that is truly shocking.


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Darla Hood
LA-Lafayette Fan
Near that place by that other place
Member since Aug 2012
11578 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Maybe because we also have our car insurance there? It’s probably a normal price, but Liberty Mutual was so outrageous it is low by comparison.


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10
LSUJML
LSU Fan
BR
Member since May 2008
33922 posts
 Online 

re: Anyone else seeing crazy increases to homeowner's inusrance?
I don’t remember % but SO’s went up a lot
Not in house for a year, no claims, ended up going with a different company


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LSUJML
LSU Fan
BR
Member since May 2008
33922 posts
 Online 

re: Anyone else seeing crazy increases to homeowner's inusrance?
quote:

We switched to Allstate and our premiums are much lower


My parents have had Allstate for over 40 years
They fricked them on their roof after Ida & ended up coming out of pocket for it


Bayou
LSU Fan
CenLA
Member since Feb 2005
32970 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
quote:

Anyone else seeing crazy increases to homeowner's inusrance?

No.
State Farm here.
Bayou Rate


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23
fwtex
Member since Nov 2019
922 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
There is a potential tsunami building and I do not understand how economist are not seeing it. Maybe they are and they are trying to downplay it to prevent a quicker escalation.

I do not see how we avoid a bigger economic collapse than 2008 in the direction we are headed. Inflation increase, cost of living increase, housing cost increases. Meanwhile we have woke corporations driving employees out of work and political policies incentivizing unemployment.

The carter run 1970's is going to look like a boom compared to how Biden is leading us on a downward spiral. All these factors I speak of will compound and escalate on each other to make it harder to avoid a meltdown.


lsualum01
LSU Fan
Member since Sep 2008
1672 posts
 Online 

re: Anyone else seeing crazy increases to homeowner's inusrance?
I’ve dealt with Allstate flood insurance and Allstate auto and got screwed over both times. Not just denial of claims but lies and negligent actions.


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goatmilker
LSU Fan
2014 drunkin Bobby award winner!
Member since Feb 2009
52661 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
Dumped by every single carrier in Pcola fl.
With no major claims in 20 years.
Having to go with state backed insurance CorFL.



Dandaman
Army Fan
Louisiana
Member since May 2017
486 posts

re: Anyone else seeing crazy increases to homeowner's inusrance?
I'm up 30 percent for 2022 renewal.


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cable
Member since Oct 2018
5811 posts
 Online 

re: Anyone else seeing crazy increases to homeowner's inusrance?
I've spoken with USAA and they are claiming the same thing. My house went from $700,000 to $950,000 (rebuild plus contents) in a fricking year. Unreal.
This post was edited on 1/12 at 9:50 am


fatboydave
LSU Fan
Fat boy land
Member since Aug 2004
17196 posts
 Online 

re: Anyone else seeing crazy increases to homeowner's inusrance?
The good ole Covid excuse


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