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Started By
Message
re: Homeowners Policy Doubled
Posted on 8/5/22 at 11:29 am to 777Tiger
Posted on 8/5/22 at 11:29 am to 777Tiger
quote:
but I use an agent and they shop around every time a policy comes up for renewal, fwiw, pleased with their service
would you then be pleased if you were able to be non renewed by your company bc you didn't accrue enough years with them bc your agent moved you for $ savings every year with every new hot company that came into town and wanted new business?
1
Posted on 8/5/22 at 11:30 am to Mingo Was His NameO
quote:
Lol, mine was $700 this year. Just renewed
Bet that 24 footer w/a single slideout is nice..
Posted on 8/5/22 at 11:34 am to LEASTBAY
quote:
My insurance agent told me the same thing even though my carrier wasn't leaving. I got a new agent and got a much cheaper policy with the same carrier. Call another agent. It's worth a shot.
With the same carrier? You might want to double check your coverages and deductibles to make sure its comparable to your old policy. And re-read everything you signed and make sure its accurate...especially year of construction, roof age, square footage.
Posted on 8/5/22 at 11:36 am to Gravitiger
Throwing stones about weather is pretty rich given the attitudes of most areas of this country.
The whole southeast is in a hurricane path, but that is a natural phenomenon.
The west, by contrast, has issues with fires and landslides, much of which is directly tied to overbuilding and/or poor forestry and water management practices.
The northeast loves to throw stones at everyone else but loses their fricking shite when they get a category 1 Hurricane or a tropical storm that dumps a bunch of water on them in a short period.
People in many parts of the country bitched about Texas’ handling of record cold but those same places have their own issues with heat or whatever and act like it is a national emergency.
The whole southeast is in a hurricane path, but that is a natural phenomenon.
The west, by contrast, has issues with fires and landslides, much of which is directly tied to overbuilding and/or poor forestry and water management practices.
The northeast loves to throw stones at everyone else but loses their fricking shite when they get a category 1 Hurricane or a tropical storm that dumps a bunch of water on them in a short period.
People in many parts of the country bitched about Texas’ handling of record cold but those same places have their own issues with heat or whatever and act like it is a national emergency.
Posted on 8/5/22 at 11:36 am to Chad504boy
quote:
would you then be pleased if you were able to be non renewed by your company bc you didn't accrue enough years with them bc your agent moved you for $ savings every year with every new hot company that came into town and wanted new business?
insurance is pretty reasonable where I live and I'm a great client because I pretty much don't file claims, hasn't been a factor yet but I'm not going to be held hostage by some company with a "rewards" program, I've been with this agent a long time and am absolutely satisfied with their service, insurance companies suck and will abandon your arse with the quickness when you need them most so I could give a shite about their rewards or longevity bs
ETA: it's not like I hop around to a new company every time the policy is up for renewal, sometimes the recommendation is to stay put even if there is a better price with another company, I've been non-renewed because of the company's inability to weather the storm(pun intended)
This post was edited on 8/5/22 at 11:41 am
Posted on 8/5/22 at 11:38 am to 777Tiger
quote:
insurance is pretty reasonable where I live and I'm a great client because I pretty much don't file claims, hasn't been a factor yet but I'm not going to be held hostage by some company with a "rewards" program, I've been with this agent a long time and am absolutely satisfied with their service, insurance companies suck and will abandon your arse with the quickness when you need them most so I could give a shite about their rewards or longevity bs
you didn't comprehend anything that was said. but if you don't live in a higher coastal risk, this issue isn't as important as you'd usually always have options. Others not so much. you not having claims and being a "good client" has nothing to do with anything.
Posted on 8/5/22 at 11:42 am to 777Tiger
quote:
I'm not going to be held hostage by some company with a "rewards" program
It’s about loss ratios, not a rewards program.
This post was edited on 8/5/22 at 11:47 am
Posted on 8/5/22 at 11:42 am to teke184
quote:I completely agree. But it happens FAR more on the gulf coast than anywhere else.
Throwing stones about weather is pretty rich given the attitudes of most areas of this country.
The whole southeast is in a hurricane path, but that is a natural phenomenon.
The west, by contrast, has issues with fires and landslides, much of which is directly tied to overbuilding and/or poor forestry and water management practices.
The northeast loves to throw stones at everyone else but loses their fricking shite when they get a category 1 Hurricane or a tropical storm that dumps a bunch of water on them in a short period.
People in many parts of the country bitched about Texas’ handling of record cold but those same places have their own issues with heat or whatever and act like it is a national emergency.
No one on this board is bitching about how many insurance companies bailed on California after wildfires, or New Jersey after Sandy. If we were on a board full of people from those states, I would say the same thing.
You would lose your goddamn mind if you knew what people in western wildfire zones pay for homeowners insurance.
I say this as someone who lives near the gulf coast. I just understand that's life here.
News flash: the more likely your home is to he destroyed by nature, the harder and more expensive it is to insure it.
There is a very easy solution, however: pay for it or move somewhere else.
This post was edited on 8/5/22 at 11:52 am
Posted on 8/5/22 at 11:43 am to 777Tiger
quote:The problem with this in Louisiana is that if you've been with the same company for more than 3 years, its much more difficult to drop you. So there's a benefit to sticking with the same insurer, even if it means paying a few bucks more.
I use an agent and they shop around every time a policy comes up for renewal
If you switch carriers all the time, you never reach that 3 year mark. If an insurer wants to reduce their hurricane exposure in certain areas, they can only non-renew from the pool of policies that have been with them less than 3 years. Bunch of people are finding that out the hard way right now. Switched a year or 2 ago to save $100, now the carrier you switched to wants to reduce their hurricane exposure and non-renews you. Now you have to try to a new policy in the current market and likely end up paying double or worse. But at least you saved $100 in 2020-21
Posted on 8/5/22 at 11:43 am to Chad504boy
quote:
well if it only went from $1400 to $2800, that's not bad.
He upgraded from a single to doublewide?
Insuring homes on wheels cannot be a profitable business model in S La.
Posted on 8/5/22 at 11:44 am to Chad504boy
quote:
you didn't comprehend anything that was said. but if you don't live in a higher coastal risk, this issue isn't as important as you'd usually always have options. Others not so much. you not having claims and being a "good client" has nothing to do with anything.
I know how this shite works, I own property on the ocean in FL but my primary residence isn't in a high risk area, I've "fired" companies before(USAA is one even though they're the OT favorite,) because they tried to triple my premium to subsidize losses from hurricane Andrew, this has worked for me for almost 50 years, I'll stick with it for now
Posted on 8/5/22 at 11:46 am to fallguy_1978
quote:
I think mine is up to around 2700. We did have a claim a year or so ago (non storm related). Not sure how much that's hurting me.
You’re damned if you do, and damned if you don’t regarding claims and homeowners insurance and rate increases. Obviously, you need some decent insurance in Louisiana. I was dropped from a carrier 2 years ago for a furnace replacement. It was a royal pain in the arse trying to find a new homeowners policy with a fresh claim, without having to go the broker route and pay extra for that BS.
Posted on 8/5/22 at 11:59 am to Tiger Prawn
quote:
If you switch carriers all the time, you never reach that 3 year mark. If an insurer wants to reduce their hurricane exposure in certain areas, they can only non-renew from the pool of policies that have been with them less than 3 years. Bunch of people are finding that out the hard way right now. Switched a year or 2 ago to save $100, now the carrier you switched to wants to reduce their hurricane exposure and non-renews you. Now you have to try to a new policy in the current market and likely end up paying double or worse. But at least you saved $100 in 2020-21
I get what you're saying, I don't necessarily switch every time the policy is up for renewal, some times the recommendation from the agent is to stay put even if there are cheaper policies and that is one of the reasons, I found out years ago that if you don't shop around and question rate hikes they'll jack up your premium for no other reason than they hope you don't notice or they will not advise you of discounts that you are eligible for, I like the relationship with the agent, it keeps them honest, and I use that term loosely because I think the insurance racket is as sleazy of a game as there is out there
Posted on 8/5/22 at 12:06 pm to Breauxsif
quote:
You’re damned if you do, and damned if you don’t regarding claims and homeowners insurance and rate increases. Obviously, you need some decent insurance in Louisiana. I was dropped from a carrier 2 years ago for a furnace replacement. It was a royal pain in the arse trying to find a new homeowners policy with a fresh claim, without having to go the broker route and pay extra for that BS.
Yeah I've actually stuck with the same company just to avoid having to shop around with a claim. It wasn't a trivial claim either - 27k.
Posted on 8/5/22 at 12:32 pm to teke184
quote:
Throwing stones about weather is pretty rich given the attitudes of most areas of this country.
All of that, exactly. To add, so many areas that will never see significant hurricane effects but can get devastating flooding from severe storms.
Posted on 8/5/22 at 12:46 pm to Gravitiger
quote:
What does this have to do with homeowners' insurance?
Assume you're kidding but Ill answer, everything. Risk of storms plus irrational verdicts and lawsuits targeting insurers = there is the answer.
Posted on 8/5/22 at 1:42 pm to nola tiger lsu
quote:
Assume you're kidding but Ill answer, everything. Risk of storms plus irrational verdicts and lawsuits targeting insurers = there is the answer.
If you’re actually getting to a verdict in the plaintiffs favor the insurance company fricked up lol.
I know of 3 different people who still haven’t received a dime from their insurers post Ida despite having documented expenses deep into the 5 figures to repair damages.
One finally started to move after she sent a demand letter from an attorney. I don’t really feel bad for the insurer if it gets hammered on her claim. Shouldn’t have fricked around for a year if you didn’t want to pay triple.
Posted on 8/5/22 at 1:52 pm to RedHawk
quote:
following Ida
Did you file a claim? If so, then what did you expect them to do?
Posted on 8/5/22 at 8:06 pm to Gravitiger
quote:
Maybe don't live in a flood zone in hurricane alley around sea level?
This is homeowners not flood, so save the holier than thou….
Posted on 8/5/22 at 8:12 pm to RedHawk
quote:
So my old carrier left the state so I had to get a new policy. My homeowners policy doubled. Insurance agent told me like 20 carriers picked up and left the state following Ida and the six hurricanes we have had in the last 2 years. Said there aren't many left that are writing new policies. Great times we are living in!
LA has no more hurricanes than its neighbors, what you have is a lot of corruption and fraud which is why they are leaving, because coupled with the lawsuit=lottery mentality they can not make a profit.
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