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Message
re: Progressive No Longer Offering Home Insurance in Texas to New Homeowners
Posted on 9/7/24 at 9:30 pm to nola tiger lsu
Posted on 9/7/24 at 9:30 pm to nola tiger lsu
quote:
Newsflash, they didnt have damage.
Yeah, I know.
0
Posted on 9/8/24 at 7:42 am to LSUwag
quote:
I do not feel guilty for filing a claim.
In your situation you shouldn't.
It's the passing-through roofing companies making "hail damage" claims on 20 year old roofs that are screwing the rest of us.
Posted on 9/8/24 at 7:24 pm to ItsBernie
Shop our policies every year ... just like we shop our utility provider.
Posted on 9/10/24 at 8:34 am to CocomoLSU
Read what I said, again, dummy. He's the dope for not using his insurance that he pays for for things that are covered by his insurance policy. Don't read between the lines, I said nothing about getting his roof replaced for minimal damage or any other frivolous use of his insurance.
Posted on 9/10/24 at 8:37 am to supadave3
quote:
If they don’t want to write policies anymore then refund your customers for all the premiums they’ve been paying for decades
This is a dumb way to think.
Generally what they do if you make a claim is say “your roof is just old and has wear and tear which is not covered.” Ok then, so why did you agree to insure it in the first place???
Posted on 9/10/24 at 9:00 am to nicholastiger
quote:
Amazing insurance only wants to insure areas where risk of loss is really low
If they don’t want to write policies anymore then refund your customers for all the premiums they’ve been paying for decades
Well considering all of the states listed in that article had loss ratios of 200+ % or worse it's not shocking.. These companies run with the intention of paying losses because they need to, but once you have a string of years where you loss ratio exceeds basic profitablity then it's hard to continue doing business..
In the very near future for the companies to get back to profitablity one major thing I can confirm will happen is that roof replacement will be on a depreciated actual cash value format and no longer full replacement... You can thank the door knocking roofers for that one... There are other things as well, but ACV on roofs is going to be reality..
Posted on 9/10/24 at 9:11 am to LimbHangger81
quote:
Thank God for USAA! They are the only insurance company that is not trying to totally screw us. I just switched home and auto to them and saved nearly $4k a year. Had liberty mutual and my rate had increased about 375% since 2022.
because replacement cost have went up that much
some of you are dumb AF
these companies have a certain margin they need to make overall
they have a risk profile they are comfortable with
as a company...they have to balance the two.
I promise these companies dont wake up and say...time to screw over our customers today!!
no they weigh the two things i mentioned. They would love to take on new customers...so long as the risk is balanced. The lower they can keep their price, while still maintaining margin and risk...the more competitive they will be which means more overall customers which means more profit....but they have to balance it.
Posted on 9/10/24 at 9:28 am to lsu777
quote:
I promise these companies dont wake up and say...time to screw over our customers today!!
Exactly.. at the end of the day they're just another company trying to run a profitable business like any normal person that owns a business would .
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