re: na

There are so many ill informed takes in this thread.

A.) if it cost 300k to build a house 5 years ago 320k is underinsured now.

B.) companies don’t write based on appraised value anyways they write based on replacement cost.

C.). If a company doesn’t want to write based on their perceived RCV on the house they don’t have too. If you don’t want to buy that policy you don’t have to as well

D.) be careful with ACV if you are doing that and make sure you understand the ramifications of that. They can be very substantial.

E.). Just to be clear property insurance companies are losing money in Louisiana. Rates have to change. You expect them to have money when you inevitably get hit again and in order to do so they have to collect more than they pay

F.). Insurance agents don’t set the rates and it is equally miserable for them right now.

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I moved away from that situation. Homeowners is about $1500/year. No need for hurricane clauses or a flood policy.
What your premium on a $/sf basis?

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I downsized, so by sf it’s a little more than a dollar.

At my place in LA it was more than $3.

Baton Rouge area, try Liberty Mutual. I shop around every 6-8 mos and they have been the cheapest for me over the past 3 years.

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Baton Rouge area, try Liberty Mutual.

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Closed for new business.

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Same boat, from Safeco.

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Get ready for the letter in the mail that says you now have cajun underwriting.

That means you were with safe point , not safeco. Huge difference

Wtf. How are people supposed to pay that? Did you ask a broker to try Lloyd’s of London? They are sh*tty, in the sense of attitude, but cheaper than $10k.

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How much cheaper would it insurance be wo an agent? IE wo the agents and agencies take?

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Direct writers have a much higher loss ration cause they can’t get underwriting right without an agent. Go get a hippo quote, oh u can’t they quit writing cause they were unprofitable.

Gotta figure out how to blame this on frivolous lawsuits.

Just talked to my insurance agent. Homeowners is up 60% liability is up 65% no word on car insurance.
I have 5% deductible on storm insurance. I could replace my roof twice for this. With my location that means I really dont have storm insurance as a roof is about as bad as I can expect. I asked him how much Id save without storm insurance. He came back with a 5% decrease.
This is absolutely ridiculous. We are all getting raped!