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Message
re: My homeowners premiums over the last 3 years
Posted on 12/11/24 at 5:05 pm to lsupride87
Posted on 12/11/24 at 5:05 pm to lsupride87
How old is the roof?
0
Posted on 12/11/24 at 5:17 pm to Miglez
Not to mention the obvious high end risk, which imo is unacceptable.
Posted on 12/11/24 at 5:18 pm to lsupride87
Brutal.
Posted on 12/11/24 at 5:24 pm to lsupride87
$1850/yr sept 2022
$2247/yr sept 2023
$2653/yr sept 2024
About $400/yr increase.
$2247/yr sept 2023
$2653/yr sept 2024
About $400/yr increase.
Posted on 12/11/24 at 8:57 pm to Civildawg
quote:
At some point self insuring has be better mathematically.
Only that’s not an option if you have a mortgage, which most people do
Posted on 12/11/24 at 8:59 pm 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.
How is this possible when MS hasn’t had any significantly destructive weather events this past year?
Posted on 12/11/24 at 9:41 pm to deltaland
Probably losses in other states that did have major weather claims
Posted on 12/11/24 at 9:46 pm 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.
Thats freakin mind boggling right there
Posted on 12/11/24 at 9:51 pm to GeorgeTheGreek
Mine is a grand a month.
12k a year on the westbank.
I’d be willing to bet a ham sandwich that I get non-renewed.
12k a year on the westbank.
I’d be willing to bet a ham sandwich that I get non-renewed.
Posted on 12/11/24 at 9:51 pm to Jcorye1
quote:
Blame your neighbors for using storms as reasons for new roofs, insurance companies for paying out obviously bad claims while also screwing others, blame lawyers for consistently suing insurance companies for dumb shite, but lastly blame the government for even letting it get to this point.
Property and casualty insurance industry made $88 billion in profits last year. They made $39 billion in the first quarter of 2024, which was the total amount of profits in 2022. Blaming everyone and everything but the insurance industry’s insatiable appetite for profits is exactly why we are in this position.
This post was edited on 12/11/24 at 9:52 pm
Posted on 12/11/24 at 9:52 pm to Double Oh
Ours was $1700 fiver years ago and was going to go up to $3500 this year. Called liberty mutual to cancel as I opted to go with USAA (bundled with car insurance). Liberty gave me the whole story about inflation and cost of materials, but when I told her I got a better policy for $1550 through USAA she said “Ohhh yeah, military, yes USAA that was a good choice” lol. They fricking know and it’s all a racket
Posted on 12/11/24 at 9:55 pm to go ta hell ole miss
quote:\
Property and casualty insurance industry made $88 billion in profits last year. They made $39 billion in the first quarter of 2024, which was the total amount of profits in 2022. Blaming everyone and everything but the insurance industry’s insatiable appetite for profits is exactly why we are in this position.
Making the most amount of money possible is always moral, right and just. Hopefully the management at each of these insurers is waking up everyday with the mindset of generating the most value they can for their shareholders before anything else.
Posted on 12/11/24 at 10:01 pm to Tarps99
quote:
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.
frick.
Posted on 12/11/24 at 10:03 pm to lsupride87
Straight criminal.
Posted on 12/12/24 at 3:45 am to RedHawk
quote:
During Ida, the only roof that blew off a house was a metal one in my MIL’s subdivision in Kenner.
I have a metal roof, but live in SWFL and after Andrew the building codes changed. The roof is completely strapped down inside the attic. My homeowners actually went down this year, and I am about 8 miles from the Gulf.
Posted on 12/12/24 at 5:47 am to liz18lsu
Mine doubled for ‘24 as I figured it would bc I was clinging tight to a 1k hurricane deductible. I figured the increase was to get me off that policy and it worked. Had to switch carriers but take a 2% deductible.
Also property taxes going up like crazy. I finished my house in 2019 and my 2025 monthly payment will now be 500 more a month just from insurance and taxes going up. Idk how ppl will afford these increases if they were already living paycheck to paycheck
Also property taxes going up like crazy. I finished my house in 2019 and my 2025 monthly payment will now be 500 more a month just from insurance and taxes going up. Idk how ppl will afford these increases if they were already living paycheck to paycheck
Posted on 12/12/24 at 6:24 am to go ta hell ole miss
quote:
Property and casualty insurance industry made $88 billion in profits last year. They made $39 billion in the first quarter of 2024, which was the total amount of profits in 2022. Blaming everyone and everything but the insurance industry’s insatiable appetite for profits is exactly why we are in this position.
I don’t care about total profit. What percent did they make?
If they are making 8-10% the OK if they are making 20-30% then we have a problem.
You have to look at them like a stock. If an investment can get a steady 8-10% then investors will put money in it. If you want them to make 2-4 percent, the. All the work and risk is not worth it and the investment money goes elsewhere
Posted on 12/12/24 at 7:51 am to go ta hell ole miss
quote:
Property and casualty insurance industry made $88 billion in profits last year. They made $39 billion in the first quarter of 2024, which was the total amount of profits in 2022. Blaming everyone and everything but the insurance industry’s insatiable appetite for profits is exactly why we are in this position.
Link?
Posted on 12/12/24 at 8:14 am to BamaCoaster
quote:
Link?
National Association Insurance Commissioner's 2023 Full Year Report
As a member of the insurance industry you should already know the source but the link is above.
This post was edited on 12/12/24 at 8:19 am
Posted on 12/12/24 at 8:45 am to deltaland
quote:
How is this possible when MS hasn’t had any significantly destructive weather events this past year?
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