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Message
re: FEDNAT cancelling LA policies July 1st
Posted on 5/30/22 at 10:38 pm to Chad504boy
Posted on 5/30/22 at 10:38 pm to Chad504boy
Yes. includes wind. $2400 for the year
Posted on 5/30/22 at 10:45 pm to Beef Tips
We were surprised that usaa saved us money in the beginning.
Beware though. When it comes down to a major disaster, they are not really better than everyone else. You will have the same issues as everyone else.
Beware though. When it comes down to a major disaster, they are not really better than everyone else. You will have the same issues as everyone else.
Posted on 5/31/22 at 12:47 am to Beef Tips
quote:
Your current insurer, FedNat Insurance Company, was downgraded in its Demotech Financial Stability Rating and doesn't have adequate reinsurance coverage for the 2022 hurricane season. The Louisiana Department of Insurance has approved the cancellation of your FedNat policy effective July 1, 2022, at 12:01 a.m. local time.
Welcome to the club.
Posted on 5/31/22 at 10:02 am to NervousNellie
I think some of you are unrealistic on how to get "good" insurance. A good company can't just write a check to everyone that wants one, obviously there is going to be good and bad experiences.
A "good" company could be twice the price as a the cheapest company. USAA quoted me in Florida one year almost $5000 when another company quoted me $1800. To a certain degree you are better off "self insuring" and taking the savings from the cheap company and banking it.
Louisiana has also had a run of bad luck recently so its just a shitty overall situation, hopefully there won't be any big storms for a long time for you guys and companies will return and prices get better.
A "good" company could be twice the price as a the cheapest company. USAA quoted me in Florida one year almost $5000 when another company quoted me $1800. To a certain degree you are better off "self insuring" and taking the savings from the cheap company and banking it.
Louisiana has also had a run of bad luck recently so its just a shitty overall situation, hopefully there won't be any big storms for a long time for you guys and companies will return and prices get better.
Posted on 5/31/22 at 10:45 am to Beef Tips
Liberty just told me "nah we good" when I called for a quote 
said they're not able to offer coverage in my "coastal area."
said they're not able to offer coverage in my "coastal area." Posted on 5/31/22 at 2:04 pm to Ingeniero
Safeco has been fantastic for us
Posted on 5/31/22 at 3:00 pm to Beef Tips
quote:
I think Im ready to cut my losses and move to a more stable company.
FEDNAT really gave me some super shite excuses on why they weren't calculating my home owner claim correctly for Ida damages sustained.
Frick FEDNAT forever. Luckily I didn't have that much damage but their rationale as to why they weren't including certain damages was elementary.
I understand technically it was "SAGESURE" but if that's their representative then it's one in the same
This post was edited on 5/31/22 at 3:01 pm
Posted on 5/31/22 at 8:03 pm to NervousNellie
quote:
We were surprised that usaa saved us money in the beginning.
Beware though. When it comes down to a major disaster, they are not really better than everyone else. You will have the same issues as everyone else.
I've had two claims with them since April 2021 - a hail storm and then Ida. Both claims were very smooth and very fair.
Posted on 6/1/22 at 12:32 pm to TDsngumbo
Okay peeps… shopping around.
State Farm was high as giraffe you know.
SafeCo and National General are pretty much the same and online reviews for both are what and what.
Thoughts?
State Farm was high as giraffe you know.
SafeCo and National General are pretty much the same and online reviews for both are what and what.
Thoughts?
Posted on 6/1/22 at 2:50 pm to Beef Tips
Any thoughts on Upc insurance or gulf states, or allied national?
This post was edited on 6/1/22 at 2:58 pm
Posted on 6/1/22 at 7:31 pm to TDsngumbo
Are Demotech's ratings incorrect, biased or what?
After FedNat dropped us, our agent found a best offer from Safe Harbor Insurance Company, administered by Cabrillo Coastal (whatever that means).
Per their website, Safe Harbor has a Demotech FSR rating of "A".
After FedNat dropped us, our agent found a best offer from Safe Harbor Insurance Company, administered by Cabrillo Coastal (whatever that means).
Per their website, Safe Harbor has a Demotech FSR rating of "A".
Posted on 6/1/22 at 8:32 pm to TigersnJeeps
Demotech ratings are like the “Good Housekeeping Seal of Approval” in that the rating can be bought and sold.
“AM Best” rating is what really matters. B+ or better. If a company has a “Demotech” rating, it means that they aren’t sufficiently capitalized to get the B+ or better AM Best rating.
“AM Best” rating is what really matters. B+ or better. If a company has a “Demotech” rating, it means that they aren’t sufficiently capitalized to get the B+ or better AM Best rating.
Posted on 6/2/22 at 8:53 am to TigersnJeeps
Yep. Got my SURE offer today. $700 more than current policy.
Posted on 6/2/22 at 2:03 pm to Kay
quote:
Okay peeps… shopping around.
State Farm was high as giraffe you know.
SafeCo and National General are pretty much the same and online reviews for both are what and what.
Thoughts?
Did you try Liberty Mutual?
Posted on 6/2/22 at 9:20 pm to Kay
Got my SURE offer and it was a $1500 increase
I checked with Allstate since that's who I have car insurance through and their homeowners was high, but bundling actually lowered my total payment by about $300. They're also one of the only ones still writing as far as I know.
I checked with Allstate since that's who I have car insurance through and their homeowners was high, but bundling actually lowered my total payment by about $300. They're also one of the only ones still writing as far as I know.
Posted on 6/3/22 at 7:28 am to Kay
State Farm won't insure a house built before 2002, at least here in NWFL.
After 3 different independent agencies, looks like Edison and Safe Harbor/Cabrillo Coastal and maybe 1-2 others are our options....
After 3 different independent agencies, looks like Edison and Safe Harbor/Cabrillo Coastal and maybe 1-2 others are our options....
Posted on 6/3/22 at 1:56 pm to TigersnJeeps
Has geico previously and then they dropped my policy due to their underwriting partner going under. Just purchased a new and frankly better policy thru progressive however they do not provide coverage for wind/hail/hurricane and recommended I get a separate policy for that. I of course already have flood insurance
Any recommendations or experience with this type of thing? Living in Metairie FWIW
Any recommendations or experience with this type of thing? Living in Metairie FWIW
Posted on 6/3/22 at 6:43 pm to Beef Tips
I’m pretty sure safeco is a liberty mutual company
Posted on 6/4/22 at 9:57 am to LSUSoulja08
Policy that doesn’t include wind/hail isn’t better. You’ll have to go through LA Citizens now to get a separate wind/hail policy
Posted on 6/4/22 at 5:13 pm to Beef Tips
Update:
I decided to lock in with Liberty Mutual yesterday. They had the best quote of all the carriers I contacted.
375,000 structure. $5000 flat deductible for wind/hail and 2% hurricane. Includes pool and trampoline coverage.
$2400 per year. Pleasantly surprised. Would have been even lower if I bundled auto insurance but they couldn't compete with my Geico rate. $187 vs $107.
I decided to lock in with Liberty Mutual yesterday. They had the best quote of all the carriers I contacted.
375,000 structure. $5000 flat deductible for wind/hail and 2% hurricane. Includes pool and trampoline coverage.
$2400 per year. Pleasantly surprised. Would have been even lower if I bundled auto insurance but they couldn't compete with my Geico rate. $187 vs $107.
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