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re: Welp - Got My Homeowners Insurance Renewal Today. 52% Increase in Premiums.
Posted on 1/4/24 at 7:25 pm to cyarrr
Posted on 1/4/24 at 7:25 pm to cyarrr
quote:
It has more to do with the recent rash of hurricanes. Insurers have been taking huge losses. Massive rate increases are also occurring along the gulf coast and entirety of Florida.
Are we really getting more hurricanes than we’ve gotten in the past? There are some who’ll try to tell us this is what we get for climate change and rising sea levels
This post was edited on 1/4/24 at 7:27 pm
2
Posted on 1/4/24 at 7:50 pm to riverparish
I got my property tax statement last month. I had to shell out nine hundred and fifty dollars. I think that I paid less last year. The thing that I don't like about paying taxes is the education tax is extremely high. I don't have kids in the public school system.
Posted on 1/4/24 at 8:00 pm to chalmetteowl
quote:
Are we really getting more hurricanes than we’ve gotten in the past? There are some who’ll try to tell us this is what we get for climate change and rising sea levels
You serious, Clark? Laura, Delta, Zeta, Ida. Big storms all within 2 years, with Laura and Ida being monsters.
Posted on 1/4/24 at 8:01 pm to highup7
I, for one, am glad you people who live on the gulf coast have your deductible going up. Same with flood insurance. I'm sick and tired of having the rest of us subsidizing your insurance rates because you choose to live in a high risk area. Frankly, I relish the day where you people can no longer afford the insurance to live in high risk areas and are required to either self insure or move. It's been a long time coming.
I speak the truth and you know it.
I speak the truth and you know it.
Posted on 1/4/24 at 8:01 pm to spslayto
quote:
Don't know how you blame them for homeowner's insurance. You can thank natural disasters for that.
And inflation. Rates are rising around the country.
quote:
Now if you are talking auto insurance, ok.
This post was edited on 1/4/24 at 11:31 pm
Posted on 1/4/24 at 8:33 pm to lnomm34
I have State Farm. They denied my roof claim this year. I have shingles missing everywhere.
I'm just in a crappy place. There is no other option. Nobody else will write Jeff Davis Parish.
I'm looking at having to pay out of my own pocket for a roof replacement. $20-26K.
Renewal is in March and I'm already at $3700.
I'm just in a crappy place. There is no other option. Nobody else will write Jeff Davis Parish.
I'm looking at having to pay out of my own pocket for a roof replacement. $20-26K.
Renewal is in March and I'm already at $3700.
This post was edited on 1/4/24 at 8:34 pm
Posted on 1/4/24 at 8:44 pm to lnomm34
I’m putting my house up for sale this summer. Can’t afford it anymore heading into retirement in a few years. Our homeowners was about 12k in 2020 and now over 60k 
Posted on 1/4/24 at 9:19 pm to lnomm34
Kind of worried about where this leads to if trends continue into the future. At some point, you'd have to think Coastal industry and businesses will start shuttering in large numbers, with the ripple effect extending to outlying communities comprised of people who commute to the Coast for work.
Posted on 1/4/24 at 10:26 pm to riverparish
quote:
everyone can get a piece of the pie and get paid handsomely for it.
What do you consider “paid handsomely?” New home/auto sales commissions are between 6-13% depending on the company, renewals average <2% if at all. Got to bust your arse to get and keep customers, and that’s if you’re the agent. Producers could make more stocking grocery store shelves starting out. Vast majority of folks wash out.
Companies and agents know that for every 100 cold calls they make, they may get 10 quotes and 1 sale. They know that you’ll spend an average of 0.5sec looking at their mailer, if you open the envelope at all, before you bin it. The math is pretty easy to figure out how many thousand calls you probably need to make an OT baller salary. It is absolutely a grinding numbers game, and you have to be too scared or stupid to quit when you start.
Posted on 1/4/24 at 10:32 pm to lnomm34
They got ya!
Posted on 1/4/24 at 10:40 pm to PP7 for heisman
quote:
Then, while he was the AG, on the same day that our puppet governor received notice of their fraud, he received the largest possible campaign contribution from the managing parter of said firm. Then poof! no charges for said firm or partner.
Did this really happen? I believe it, they're all freaking crooks.
Posted on 1/4/24 at 10:43 pm to lnomm34
It's mind blowing to see these rates. I hate to hear how high they are in Louisiana.
I pay sub 2k. Most starter homes will run about $900-$1200 a year.
I pay sub 2k. Most starter homes will run about $900-$1200 a year.
Posted on 1/4/24 at 10:53 pm to Billy Blanks
quote:
It's mind blowing to see these rates. I hate to hear how high they are in Louisiana. I pay sub 2k. Most starter homes will run about $900-$1200 a year.
We pay more than that on car insurance for a used Honda.
Posted on 1/4/24 at 11:02 pm to lnomm34
We should all cancel at the same time. I bet rates would go down then!
Posted on 1/4/24 at 11:34 pm to Gumby84
quote:
Such tweaks cannot erase risk. As premiums rise and homeowners have trouble finding coverage, local economies may suffer. Some people will be priced out. Mr Becketti recently warned the Senate that overvalued homes will depreciate as their true risk is realised and, unlike after America’s subprime housing bubble burst in 2007, they will not recover their value. Insurance is “the canary in the coal mine”, for how climate change will affect property markets, he tells The Economist
. In time, the people who can afford to stay in coastal Florida or in the foothills of the Sierras will be those who can pay the exorbitant cost of insurance that comes with an ocean view or woodland retreat. Or, if there is no coverage to be found, those who can afford not to be insured at all. What about the people who can’t afford to stay, and can’t afford to abandon their homes? Jesse Keenan, a professor of sustainable property at Tulane University in New Orleans, argues local governments need to start thinking seriously about managed retreat. “At the end of the day, people who live in super-high-risk zones are going to have to move,” he says. “And there’s going to be a lot of political bloodshed along the way.”¦
Posted on 1/5/24 at 1:25 am to DiamondDog
quote:
They denied my roof claim this year
how old is the roof?
Posted on 1/5/24 at 4:38 am to Turnblad85
7-8 years old.
Posted on 1/5/24 at 7:05 am to DiamondDog
There is a reason for the denial. Tell the whole story
Posted on 1/5/24 at 8:46 am to SaintsTiger
Self Insure or moving is inevitable if left to open market forces. Home insurance in high risk areas is the same as car insurance for bad drivers. Eventually, the insurance company price you out or drop you all together. The risk isn't worth it. And all of the rest of us have to subsidize your premiums so you can pay what you complain about now. Imagine having to subsidize a drunkard's car insurance after multiple DUIs. Kinda the way I feel about it.
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