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Started By
Message
Help With Home Owners Insurance
Posted on 1/17/24 at 1:07 pm
Posted on 1/17/24 at 1:07 pm
Hi Fam,
We live in Tara and have Farm Bureau for our home insurance, Farm Bureau got approved for two rate hikes this year, a 15% in March 2023, and a 37% increase in September 2023 for a combined increase of 52%! I’m going with All State since their increase is very nominal in comparison. Anyone else have this issue with their insurance company? Farm Bureau has done this in the last four years every year. It quadrupled my insurance. Anyone can suggest a company that doesn’t rape the wallets of the home owner? Farm Bureau is telling me it’s cost of rebuilding my house even though that figure has not changed in three years, shows that figure on their own paperwork.
Thanks all for any help
We live in Tara and have Farm Bureau for our home insurance, Farm Bureau got approved for two rate hikes this year, a 15% in March 2023, and a 37% increase in September 2023 for a combined increase of 52%! I’m going with All State since their increase is very nominal in comparison. Anyone else have this issue with their insurance company? Farm Bureau has done this in the last four years every year. It quadrupled my insurance. Anyone can suggest a company that doesn’t rape the wallets of the home owner? Farm Bureau is telling me it’s cost of rebuilding my house even though that figure has not changed in three years, shows that figure on their own paperwork.
Thanks all for any help
11
Posted on 1/17/24 at 1:15 pm to Oneulus
Either use Insurance Network of Louisiana or start shopping around. I can't think of any insurance company that hasn't jacked up rates here.
Posted on 1/17/24 at 2:25 pm to Oneulus
I have progressive, haven’t received my annual bendover yet. But I do still have flat 1000$ deductible even for hurricanes. Hoping that won’t change
Posted on 1/17/24 at 3:42 pm to Oneulus
You're lucky if you have choices. Only AllState will insure my house so they can do whatever they want with me. I'm stuck. And AllState sucks terribly.
Posted on 1/17/24 at 3:51 pm to Oneulus
FB is hemorrhaging HO policies and may not live through the blood letting. Last I checked they were B rated and if you have wind included your premiums will continue to increase.
Find an independent agent with multiple carriers and let him quote all of your business.
Progressive is non renewing all of their HO policies less than 3 years old and increasing rates on those they keep.
Yeah I’m a salty former FB agent that has zero love for them.
Find an independent agent with multiple carriers and let him quote all of your business.
Progressive is non renewing all of their HO policies less than 3 years old and increasing rates on those they keep.
Yeah I’m a salty former FB agent that has zero love for them.
Posted on 1/17/24 at 4:17 pm to Oneulus
quote:
I’m going with All State since their increase is very nominal in comparison. Anyone else have this issue with their insurance company?
Coming from someone that deals with insurance companies every day for work and has to fight with them all the time on behalf of homeowners. Allstate is hands down the worst homeowners insurance. I wouldn't have Allstate if it was given to me for free, and I'm dead serious with that. When I started dealing with homeowners insurance claims 7 years ago, I realized very quickly that I would never have homeowners with them and they've only gotten worse over the years.
Posted on 1/17/24 at 4:38 pm to iwyLSUiwy
quote:
Coming from someone that deals with insurance companies every day for work and has to fight with them all the time on behalf of homeowners. Allstate is hands down the worst homeowners insurance
As a homeowner who has dealt with them, I second this. You are paying them just to say you're covered. When the time comes that you need it, you will get nothing.
Posted on 1/17/24 at 5:00 pm to lsugrad35
quote:
As a homeowner who has dealt with them, I second this. You are paying them just to say you're covered. When the time comes that you need it, you will get nothing.
Yep. I'm sorry man. If a big hail storm comes through and demolishes your roof, sure Allstate will buy you a new roof. Your pipe busts and floods your bathroom, sure Allstate will buy you some new floors. But even when they do, they will underpay.
It's when things aren't as straight forward when they will screw you or when it's a ton of damage. We've turned 5k Allstate claims into 50,000k claims because of the amount of stuff they failed to pay for.
State Farm is getting to be just as bad. Allstate and State Farm are the only two carriers that have handled claims so bad that we've had customers file department of insurance claims. Probably had 10 DOI claims for Allstate. Never had a single one for Shelter, Farm Bureau, Farmers, Geico, etc. Hell, never even had one with Foremost, which handle most mobile homes and are notoriously bad. Even they don't compare to how bad Allstate is.
Posted on 1/18/24 at 12:31 am to iwyLSUiwy
Roofing g contractor here. I know my FB agent and his team are buying roofs left and right and giving discounts. Telling them to get on a schedule to make a claim and replace their roof. IMO it’s FB, USAA, Hanover, then middle of the road, then way down the list are SF and Allstate
Posted on 1/18/24 at 6:28 am to Oneulus
Just got my renewal for next month, 30% increase in one shot 
Posted on 1/18/24 at 7:48 am to bubba102105
Posted on 1/18/24 at 10:52 am to bubba102105
At least you got it. Mine isn’t renewing me. Producer claims they are dropping lots of risks my area. Idk. She say most have to go with Citizens.
Posted on 1/18/24 at 11:29 am to couv1217
quote:
I know my FB agent and his team are buying roofs left and right and giving discounts. Telling them to get on a schedule to make a claim and replace their roof.
That's an odd thing for an agent to do IMO. It would be local or catastrophe FB adjusters that aren't affiliated with any agent in particular being the ones that would be buying the roofs. Add to the fact that them filing a claim will more than likely increase their premiums, it seems like a bad idea for an agent to just tell people to file a claim. Plus they wouldn't have even looked at the roof
quote:
IMO it’s FB, USAA, Hanover, then middle of the road, then way down the list are SF and Allstate
USAA really does take care of their homeowners as good or better than anybody, but they do have some pretty high deductibles around here. It seems like the top companies vary depending on the area, but the only consistent thing is that Allstate and State Farm are by far the to worst no matter where you go.
Posted on 1/18/24 at 4:54 pm to iwyLSUiwy
I believe FB thought process is replace the roof rather than having to pay for tons of interior work if older roofs get destroyed during a storm. My local FB has their adjusters in house so I know them and they know the deal
Posted on 1/18/24 at 8:45 pm to iwyLSUiwy
quote:
USAA really does take care of their homeowners as good or better than anybody, but they do have some pretty high deductibles around here. It seems like the top companies vary depending on the area, but the only consistent thing is that Allstate and State Farm are by far the to worst no matter where you go.
I've had USAA for 30ish years, they used to be very reasonable, but with all the advertising, I think they are one of the most expensive now. They do pay claims well, rather it be auto or home.
Posted on 1/19/24 at 7:24 pm to Oneulus
Try Gulf States. My agent just got me a policy that is cheaper than I’ve had with Lloyd’s since Ida. Looks to be better coverage too. It’s under $5k. About $250k dwelling so mine may be less than yours.
Posted on 1/20/24 at 8:29 am to Oneulus
I work with different carriers regarding property claims. I can Allstate provides terrible service to their policyholders and I would avoid them at all costs.
Posted on 1/20/24 at 9:22 pm to greenbean
quote:
I've had USAA for 30ish years, they used to be very reasonable, but with all the advertising, I think they are one of the most expensive now. They do pay claims well, rather it be auto or home.
Same here. USAA for several decades.
Insuring young drivers was initially a deal breaker with them. But I went back quickly when I experienced the nuisance with other carriers.
I also left USAA for homeowners insurance when I moved from my starter home to a much larger home. I was with Travelers since 2005. But suddenly - this past year, USAA was able to beat their rates. Travelers tried to keep me by blaming me for not reporting a new roof 4 years ago - a claim they paid for. frick em. Glad to be back with USAA
Posted on 2/5/24 at 12:55 pm to Willie Stroker
Just received my renewal. Went up from 3k to 4600$, 54%. Total BS. Have a call to see what they can do… My house is not appreciating that much. Going to call USAA this week and see what they can offer
This post was edited on 2/5/24 at 12:57 pm
Posted on 2/5/24 at 1:00 pm to Oneulus
Everyone's rates are going up 50%.
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