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Started By
Message
re: My homeowners premiums over the last 3 years
Posted on 12/11/24 at 9:25 am to Miglez
Posted on 12/11/24 at 9:25 am to Miglez
quote:
This is going to destroy SELA over time if not corrected. Think about the trick down effect an additional $5K per year out of people's personal spending budgets compounded across hundreds of thousands of home owners. It's money being taken out of the pockets of local shops, restaurants, etc. That money is gone. It's not being invested for retirement, for kid's colleges, for home improvements, for anything.
Not only that, more than likely the deductibles are going to be higher so that is even more money that is out of pocket if a storm occurs. So instead of having an extra 5k in disposable income or savings that you could use towards your deductible, that extra money is going to the insurance company’s pockets with less coverage for storm event.
You are getting screwed both ways.
1
Posted on 12/11/24 at 9:25 am to Miglez
I know after my wife and i's first year, the note for our house went up almost 400 bucks - where we were comfortable before, it really got us having to tighten down budget wise and postpone some repairs and improvements the house needs. if it goes up like that again this next year, it will be 2nd job time for me.
Posted on 12/11/24 at 9:26 am to Jcorye1
quote:
Blame your neighbors for using storms as reasons for new roofs,
I pay thousands of dollars a year for insurance in the event a storm damages my roof. When it’s determined by my insurance company determines that my roof is damaged and in need of replacement after a storm, I’m getting a new roof and whoever doesn’t like that can go frick themselves.
This post was edited on 12/11/24 at 9:28 am
Posted on 12/11/24 at 9:26 am to jizzle6609
Absurd and nobody in government even cares.
Posted on 12/11/24 at 9:28 am to JohnnyKilroy
Totally your right. That's between you and your insurer.
Just don't complain about rising premiums then.
Just don't complain about rising premiums then.
Posted on 12/11/24 at 9:28 am to Civildawg
quote:
Agreed, talk to my agent and he said something like 8 out of the 11 carriers in MS lost money last year.
Actually lost money or we didn't hit our projection so we "lost" money? Genuine question.
Posted on 12/11/24 at 9:28 am to lsupride87
I posted in the other thread about escrow amount.
Just got my renewal for Citizens. Metairie lakefront-$10,300.
Citizens is the only one that will write a policy.
Just got my renewal for Citizens. Metairie lakefront-$10,300.
Citizens is the only one that will write a policy.
Posted on 12/11/24 at 9:30 am to lsupride87
Governor Landy is not doing anything to help the crisis.
Johnson, Kennedy, and Cassidy are also not doing anything to help. These Washington parasites send billions of our dollars to Ukraine rather than help Louisiana.
Johnson, Kennedy, and Cassidy are also not doing anything to help. These Washington parasites send billions of our dollars to Ukraine rather than help Louisiana.
Posted on 12/11/24 at 9:32 am to bamaguy17
He said lost money. I don't have the access to his info but that's what he told me
Posted on 12/11/24 at 9:32 am to lsupride87
That’s a bigger travesty than medical insurance. I’m surprised there hasn’t been a Luigi go after them.
Posted on 12/11/24 at 9:33 am to Miglez
quote:
is going to destroy SELA over time if not corrected.
Unfortunately this is not unique to SELA. Insurance companies are screwing everyone right now. I work with a guy who lives in Charleston and his has tripled. It’s insanity.
Posted on 12/11/24 at 9:35 am to lsupride87
Man, I feel for yall. When I left SE LA my premium was 1,100 and even living at the beach in Jersey currently (I know no hurricanes but expensive COL) only 1,800.
Posted on 12/11/24 at 9:36 am to JohnnyKilroy
quote:
I pay thousands of dollars a year for insurance in the event a storm damages my roof. When it’s determined by my insurance company determines that my roof is damaged and in need of replacement after a storm, I’m getting a new roof and whoever doesn’t like that can go frick themselves.
Except people are getting new roofs instead of just having them fixed, increasing costs for everyone. I don't care, you do you, at this point it effects my parents on a static income only and not me so get yours if you gotta get yours.
Posted on 12/11/24 at 9:37 am to Civildawg
quote:
At some point self insuring has be better mathematically.
Call me a communist or whatever, but I don't think insurance should be a for profit business.
Posted on 12/11/24 at 9:41 am to lsupride87
quote:
I’m in mandeville. You really don’t think I shopped it?
Do I think you shopped it well, and made sure you're coverage wasn't automatically increased higher than it needs to be? No, I dont'.
Posted on 12/11/24 at 9:41 am to Jcorye1
quote:
Except people are getting new roofs instead of just having them fixed
I’m not a roofer or a roof inspector. If my insurance company determines my roof needs replacement following a covered event, it’s getting replaced and I don’t give a shite if that makes someone else’s premium go up.
Posted on 12/11/24 at 9:42 am to lsupride87
Don’t know how average people and young people pay for anything - stuff is ridiculous. Home owners insurance, car insurance, car notes, house prices, food prices, electricity has doubled, etc.
Posted on 12/11/24 at 9:43 am to JohnnyKilroy
quote:
I’m not a roofer or a roof inspector. If my insurance company determines my roof needs replacement following a covered event, it’s getting replaced and I don’t give a shite if that makes someone else’s premium go up.
But you're actively complaining about increased premiums?
Posted on 12/11/24 at 9:43 am to Swagga
seems to me that insurance companies and state governments should be pushing for metal roofs along the Gulf Coast
more energy efficient and hold up in storms better.
more energy efficient and hold up in storms better.
Posted on 12/11/24 at 9:44 am to Jcorye1
quote:
But you're actively complaining about increased premiums?
Link?
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