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Started By
Message
re: Louisiana Citizens proposes 63 percent homeowners insurance rate hike for 2023
Posted on 9/13/22 at 3:31 pm to Caraway Rye
Posted on 9/13/22 at 3:31 pm to Caraway Rye
Wtf you talking about
3
Posted on 9/13/22 at 3:33 pm to Chad504boy
quote:Same poster who was arguing in the auto insurance thread that there's no such thing as an insurance score and that tenure with previous company doesn't affect rates with a new carrier. Just ignore him
Wtf you talking about
Posted on 9/13/22 at 3:33 pm to Chad504boy
quote:
Wtf you talking about
When more than half of your population does not contribute into the funding of the government what you have is a failed state
You are literally only getting by with sucking an increasingly smaller number of societal contributors dry
Posted on 9/13/22 at 3:34 pm to Caraway Rye
LA Citizens doesn’t pay claims to non policy holders. This is a discussion about premium cost for an insurance policy
Posted on 9/13/22 at 3:44 pm to teke184
Donelon has always been a worthless POS
Posted on 9/13/22 at 3:45 pm to Chad504boy
quote:
LA Citizens bought $55 million reinsurance at a cost of roughly $32 million
I don't know about the reinsurance market, but that reinsurance is like getting screwed on a craps bet that only pays 7 to 6 or some other weird combo that barely covers your bet.
The state could have just as easily put 55 million in a bank account. Instead of wasing 32 million to the reinsurance cabal.
Posted on 9/13/22 at 3:46 pm to Chad504boy
quote:
LA Citizens doesn’t pay claims to non policy holders. This is a discussion about premium cost for an insurance policy
Selling state bonds for cash that have to be paid with interest impacts all taxpayers
Posted on 9/13/22 at 3:53 pm to TDsngumbo
quote:
We all hate living here but this is home to those of us with older parents and young children. My in-laws only have us and they’re old so we’re not going to leave them. By the time they pass away, my own parents will be old and will need us. I also don’t want to uproot my kids and put them in another school. So, all things considered, this is home to us. Do we like living here all the time? Nah, but this is where we will be for the foreseeable future.
This is pretty much our situation. I have a good job, but my wife has worked remote for 6 years now. I'm biding my time until I can either figure out how to relocate my remaining elderly parent. It's not a simple situation and I doubt people chiming in with "just move" understand the responsibility that hits you later on in life. You can't just walk away from everything and everyone in their later years.
My wife and I are not that old, but we are the babies in families that had kids later in life. That said, we're taking a trip next month to one of the few states we've never visited but would consider moving to. With the express idea of getting a feel for options in the future.
When that door opens a bit more, we're out.
This post was edited on 9/13/22 at 4:01 pm
Posted on 9/13/22 at 3:53 pm to PUB
Look at it this way… he is the first commissioner not to be voted out or imprisoned in probably 35 years, from Sherman Bernard up through Robert Woolley.
Donelon sucks but hasn’t managed to get tossed yet, which means a very low bar.
Donelon sucks but hasn’t managed to get tossed yet, which means a very low bar.
Posted on 9/13/22 at 3:59 pm to BowDownToLSU
I understand people get all upset, but every 3-5 years this state gets absolutely wrecked by a Hurricane. There's Billions paid out in claims.
How much meat you think is left on the bone after last year?
I'm honestly surprised State Farm is still writing policies at this point.
How much meat you think is left on the bone after last year?
I'm honestly surprised State Farm is still writing policies at this point.
Posted on 9/13/22 at 4:01 pm to DiamondDog
My private homeowners went up 100%.
Posted on 9/13/22 at 4:04 pm to RaginCajunz
quote:
It's not a simple situation and I doubt people chiming in with "just move" understand the responsibility that hits you later on in life.
Very true. And Louisiana is my home until I retire. My family and relatives immigrated here and because of the fishing industry, it has allowed unlimited possibilities to my generation, the 2nd generation and beyond. Because if that, my root and loyalty will be always with LA. If people want to move to a better place and call LA a shithole, it’s their choice. But this is my home. Guess I’m just a loyal dog that doesn’t know any better.
Posted on 9/13/22 at 4:04 pm to RedHawk
Think my house is insured for $425K and our policy is right at $3,500 a year.
Posted on 9/13/22 at 4:04 pm to Chad504boy
I've said it a thousand times on this board....
Posted on 9/13/22 at 4:09 pm to BowDownToLSU
Well I guess the only thing to do is sell your house and get out of this state if you're painted into a corner where your last resort is Louisiana Citizens
Posted on 9/13/22 at 4:09 pm to DiamondDog
We’ve filed one claim and have owned a home for 28 years.
I can pay off our home and self insure or get an amount that we want and not what the bank requires .. if I’d have all the premiums that I’ve ever paid and Invested it instead, I’d be rich.
I can pay off our home and self insure or get an amount that we want and not what the bank requires .. if I’d have all the premiums that I’ve ever paid and Invested it instead, I’d be rich.
Posted on 9/13/22 at 4:10 pm to Chad504boy
quote:
Wtf you talking about
He's venting about something that has zero to do with the discussion. Let the man vent.
Posted on 9/13/22 at 4:14 pm to SlimTigerSlap
quote:
He's venting about something that has zero to do with the discussion. Let the man vent.
People that own homes are more likely than not to be net taxpayers
Louisiana Citizens is increasing prices on these people while having a large balance of state issued bonds that need to have interest paid.
Taxpayers are getting squeezed in a tax in disguise
Everything is related
This post was edited on 9/13/22 at 4:15 pm
Posted on 9/13/22 at 4:17 pm to BowDownToLSU
I just got my homeowners renewal notice
I’m paying 23% more than I did last year. Not bad
I’m paying 23% more than I did last year. Not bad
Posted on 9/13/22 at 4:19 pm to Caraway Rye
What other option does the Insurer of last resort have to people knowledgeable and willingly living in a hurricane prone area?
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