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Started By
Message
re: Home Insurance Board - Got my renewal today
Posted on 6/13/24 at 10:18 am to Tiger Prawn
Posted on 6/13/24 at 10:18 am to Tiger Prawn
Correct, I’m simply pointing out that the posters idea is already an option. There just aren’t many companies, besides surplus lines carriers, that would offer wind only.
0
Posted on 6/13/24 at 10:20 am to JohnnyKilroy
quote:
La citizens was nearly 20k premium for my crib.
What are you insuring, the owners of the Hope Diamond pay less to insure the diamond.
Posted on 6/13/24 at 10:42 am to chalmetteowl
quote:
THIS my fellow parish brother If we get a storm like that they can have my house lo
If we get a major storm they can make the whole parish a container port, cause there will be no residents left.
Posted on 6/13/24 at 10:50 am to StonewallJack
quote:
What company is that with? Are they in Louisiana?
Sagesure. Louisiana.
I was flabbergasted and quadruple checked to make sure I was appropriately covered. Like I said, I’m pretty much expecting that the premium will double, if not triple after this first year.
Posted on 6/13/24 at 10:51 am to DCtiger1
quote:
17.5% coverage increase at renewal isn’t that much. You also don’t have to accept that increased amount, you can retain existing coverage. On your renewal, it should say what percent or amount of your increase was due to coverage and what was due to a rate increase.
My agent just told me that is not possible. They have to use the replacement value as calculated by the insurer. Or, I can provide at my expense a replacement cost appraisal and if it’s lower they will take that.
quote:
One thing to keep in mind, Dover Bay is an excess surplus lines policy.
Yes. Not happy but only other options are citizens and a couple of companies that are much worse
Posted on 6/13/24 at 11:22 am to LSUFanHouston
Your agent is a SF agent, and so am I 
you always have that option to maintain coverage limits, you can even delete inflation coverage
you always have that option to maintain coverage limits, you can even delete inflation coverage 
Posted on 6/13/24 at 11:34 am to DCtiger1
As am I. Most definitely can keep limits.
Posted on 6/13/24 at 11:37 am to LSUFanHouston
quote:
20% premium increase - $1100 increase in premium
Damn, my annual policy in BR is around $2400
Posted on 6/13/24 at 11:48 am to DCtiger1
quote:
Your agent is a SF agent, and so am I you always have that option to maintain coverage limits, you can even delete inflation coverage
Woujd that be something that is different by state?
Posted on 6/13/24 at 11:56 am to Fun Bunch
Mine actually came down to this renewal. Gulf State. The current insurer dumped me this renewal and it worked in my interest. 3 quotes came in much cheaper than I was paying with them (Lloyds). The insurer I had been with for 20 years left the state in the year prior to Ida. I miss them, they never gave me issues.
Posted on 6/13/24 at 2:19 pm to LSUFanHouston
If you're in Texas then you should still be able to insure as low as 80% of full replacement cost and keep replacement cost benefits. Just know that in the event of a total loss the max you'll get is 80% of what it would cost to replace the home.
Posted on 6/14/24 at 1:15 pm to LSUFanHouston
I'm so freaking pumped. Ours only went up $48 .. coverage increased slightly for inflation I guess.
We're in Vermilion Parish, very south. SageSure/Elevate insurance.
I was literally sick thinking about what the increase would be.
We're in Vermilion Parish, very south. SageSure/Elevate insurance.
I was literally sick thinking about what the increase would be.
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