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Started By
Message
re: Homeowner's Insurance
Posted on 1/11/23 at 7:07 pm to thunderbird1100
Posted on 1/11/23 at 7:07 pm to thunderbird1100
My bad, a few drinks in 
Yeah 1k deductible, 2800 policy.
Yeah 1k deductible, 2800 policy.
0
Posted on 1/11/23 at 7:58 pm to MrJimBeam
quote:
I had to switch companies though to keep the 1k deductible
You did what you had to do, but there is also an ugly secret to switching HO carriers which involves the 3-policy renewal protection under 22:1333. You start the clock all over again with the new carrier which could result in a unintended pyrrhic victory.
Posted on 1/11/23 at 8:38 pm to Tomatocantender
Explain that to me like I’m 5
Posted on 1/11/23 at 9:32 pm to MrJimBeam
Many carriers are non renewing policies due to “exposure management”. If you’ve been with a carrier for over 3 years, they can’t non renew your policy for that reason. They can for underwriting reasons or insolvency etc.
Posted on 1/11/23 at 9:36 pm to thunderbird1100
quote:
My policy is 1% deductible at $4,280 with $1,550 premium
Where is this and what company?
Posted on 1/11/23 at 9:37 pm to TigerTatorTots
quote:
Literally everyone in Louisiana
Not mine
Posted on 1/11/23 at 10:18 pm to btnetigers
Seriously thinking about dropping my separate wind and hail policy. My roof and structure survived the eye of Katrina. If a tornado hits my house, I’ll just eat the cost. Worth the risk.
Posted on 1/12/23 at 8:38 am to btnetigers
quote:
Anyone else's homeowner's insurance double or increase tremendously without filing a claim or anything?
I guess 504girl woke up on the right side of the bed today. Here was his response to me on the same topic:
quote:
you sound dumb.
what next " I DIDN'T EVEN FILE A CLAIM YOU GUYZZ"
Glad to see i taught all those fruitcakes to mind their manners.
Posted on 1/12/23 at 8:46 am to meeple
quote:
Seriously thinking about dropping my separate wind and hail policy. My roof and structure survived the eye of Katrina. If a tornado hits my house, I’ll just eat the cost. Worth the risk.
you mortgage free?
Posted on 1/12/23 at 8:48 am to MrJimBeam
quote:
Explain that to me like I’m 5
hence my response to you.
insurnace companies do like this:
Monday:
We want to write new business.
Wednesday:
We need to slow down this new business and make some underwriting changes to make it stricter.
Friday:
We have too much now and need to get off of shite. So they look at the book, the only parts of what they can get off of is stuff they just wrote. Its not that your house is worse than stuff they've written for 5 years, its by law they can get off of your risk and lower their catastrophe exposure moving forward.
Posted on 1/12/23 at 11:32 am to thunderbird1100
quote:
Man your premium must either be through the roof with a $1k deductible or the house isnt worth a bunch.
My house is 900k+. Have 1k deductible with progressive/ASI. Last year they paid over 60k for new roof after IDA. They raised my premium from 2400 to 3500/yr. I’m ok with that.
Posted on 1/12/23 at 6:56 pm to Beef Tips
quote:
Where is this
Atlanta
quote:
what company?
State Farm, but my college buddy owns a State farm by me and hes my agent
Posted on 1/12/23 at 8:12 pm to Chad504boy
quote:
you mortgage free?
Won’t be long
Posted on 1/13/23 at 12:04 pm to thunderbird1100
quote:
but my college buddy owns a State farm by me and hes my agent
Not sure what this means. Your captive agent buddy has absolutely zero effect on the largest back-office underwriting property insurer in the US. Maybe he pencil whip fudged a few things here and there but still not sure what being friends with a captive agent means for a huge savings.
Posted on 1/13/23 at 5:42 pm to thunderbird1100
quote:
but my college buddy owns a State farm
False. State Farm owns the business. Ask your buddy if he can sell it. Answer will be no.
Posted on 1/13/23 at 10:01 pm to BamaCoaster
quote:
False. State Farm owns the business. Ask your buddy if he can sell it. Answer will be no.
I’m an Indy agent, this is 100% truth. You walk from State Farm, it’s like leaving a job. They own the book and they do not buy you out.
Posted on 1/14/23 at 12:01 am to btnetigers
Yes.
By a lot.
By a lot.
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