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re: Home Insurance Now Costs More than Property Taxes in a Majority of US Counties/Parishes
Posted on 10/21/26 at 10:53 am to Mingo Was His NameO
Posted on 10/21/26 at 10:53 am to Mingo Was His NameO
Getting insurance to pay for a new roof every 20 years is a large contributing factor to the increase in price.
Posted on 10/21/26 at 10:55 am to Mingo Was His NameO
I can hear the local shithead politician's using this nugget when people bitch about their property taxes.
"You actually get something from your property taxes."
"You actually get something from your property taxes."
Posted on 10/21/26 at 10:55 am to bird35
quote:
Getting insurance to pay for a new roof every 20 years is a large contributing factor to the increase in price.
the cost of said roofs is also a contributing factor.
Posted on 10/21/26 at 10:56 am to Mingo Was His NameO
My property taxes are 3 times my insurance but I dont live anywhere near a hurricane zone.
Posted on 10/21/26 at 11:01 am to bird35
quote:
Getting insurance to pay for a new roof every 20 years
insurance isn't going to give you anything for a 20 year roof
more like every 10 years
Posted on 10/21/26 at 11:39 am to Mingo Was His NameO
quote:
Home Insurance Now Costs More than Property Taxes in a Majority of US Counties/Parishes
My homeowners ins is roughly 2x my property taxes
This post was edited on 10/21/26 at 11:40 am
Posted on 10/21/26 at 11:49 am to bird35
quote:
Getting insurance to pay for a new roof every 20 years is a large contributing factor to the increase in price.
Insurance isn't fully replacing a 20yr old roof.. Roof coverage is on a ACV basis (actual cash value) .. So if you got a 15-20 yr old roof especially in La.. you'll only receive a depreciated settlement in the event of a claim..
Also the roof isn't the main contributing factor in the increase of policies in S.La..
Posted on 10/21/26 at 11:52 am to Ten Bears
Got a roofing friend who's been doing it for years and he said these days if you buy a house you better have comps built in to replace the roof if its older than 5 years old. Insurance company's will come inspect and if it's older than 5 years they will not cover you.
It's not just homeowners that is going through the roof. Business insurance is well. Saw a quote last week for property and general liability. 4.9 mil property valuation, $25K premium with a 1% of valuation deductible. That means anything under $49k you're paying for out of pocket.
Who do you think is paying for those increases? The consumer.
Throw in the crap show that health and auto insurance is and we're getting to the point where people just about cant afford to have it.
It's not just homeowners that is going through the roof. Business insurance is well. Saw a quote last week for property and general liability. 4.9 mil property valuation, $25K premium with a 1% of valuation deductible. That means anything under $49k you're paying for out of pocket.
Who do you think is paying for those increases? The consumer.
Throw in the crap show that health and auto insurance is and we're getting to the point where people just about cant afford to have it.
Posted on 10/21/26 at 12:00 pm to beebefootballfan
When I found out the insurance industry was founded in England, it clicked to why it’s useless bureaucratic mess
Posted on 10/21/26 at 12:19 pm to Kenna City Solja
quote:
If these kids would just stop going to Starbucks every morning, maybe they could afford a house
What a stupid comment. I Haven’t seen or heard a single boomer (or any other property owner) ever dispute that insurance and property
Taxes aren’t ridiculously out of whack.
Posted on 10/21/26 at 12:20 pm to Dire Wolf
quote:
When I found out the insurance industry was founded in England, it clicked to why it’s useless bureaucratic mess
1st documented insurance agreement was in like the 1200's in Portugal .. With forms of risk transfer dating back to Babylonian era... So it's almost as old as prostitution...
But yeah a lot of the modern Insurance we see today was created in the 17th century London..
Posted on 10/21/26 at 12:20 pm to beebefootballfan
quote:
. Insurance company's will come inspect and if it's older than 5 years they will not cover you.
Not true at all..
Posted on 10/21/26 at 12:22 pm to Dire Wolf
quote:
When I found out the insurance industry was founded in England, it clicked to why it’s useless bureaucratic mess
You know what one of the first things they insured was correct?
Posted on 10/21/26 at 12:35 pm to Dire Wolf
quote:
In Colonial America, the first insurance company that underwrote fire insurance was formed in Charles Town (modern-day Charleston), South Carolina in 1732. Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly property insurance to spread the risk of loss from fire, in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company made contributions toward fire prevention. Not only did his company warn against certain fire hazards, but it also refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.
Thanks, Benny
Posted on 10/21/26 at 12:36 pm to Crawdaddy
That’s insanity.
Posted on 10/21/26 at 12:54 pm to Mingo Was His NameO
My homeowners has been more than my property taxes for 5 years now
Posted on 10/21/26 at 1:10 pm to Mingo Was His NameO
My home insurance Florida has quadrupled in the last ten years. In Idaho, Colorado, Maryland, and North Carolina it hasn’t changed much at all over the last 5-10 years.
Posted on 10/21/26 at 1:16 pm to Geauxld Finger
quote:
Even with my house paid off, my monthly house payment (if paying INS and Taxes monthly) is $561 This is ridiculous
quote:
That’s insanity.
Over$700 here. This is only a $265k house in a non flood zone (flood zone X). Not exactly a mansion on the the beach
This post was edited on 10/21/26 at 1:18 pm
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