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Message
re: Annual getting reamed by Louisiana home insurance post.
Posted on 3/15/24 at 9:04 pm to Raptordawg
Posted on 3/15/24 at 9:04 pm to Raptordawg
My house note went up $300 this month because the increase in insurance finally hit. Then the mortgage lender tacked on another 2.8k in shortage from their escrow analysis
Its bullshite. You would almost think they don’t want people having sub 3% interest for some reason.
Its bullshite. You would almost think they don’t want people having sub 3% interest for some reason.
0
Posted on 3/15/24 at 9:41 pm to Raptordawg
Got an offer from my mortgage in place insurance. I could add 50k in liability and 25k in property coverage. Dwelling maxes at 100k. Loss of use is up to 20% of the value of the policy. The total cost is 3,600 a year or 300 a month. I am paying close to 160 a month just for structural coverage.
YOY the coverage did not change that much.
YOY the coverage did not change that much.
Posted on 3/16/24 at 12:56 am to TigersLSU
Also, houses in Florida are built a hell of a lot different than they are in Louisiana. The crap they build in Louisiana would never get past permitting in Florida.
Posted on 3/16/24 at 6:50 am to Raptordawg
Just got my renewal and mine actually went down $48 from previous year. Year before that it went up 28%
Posted on 3/16/24 at 7:10 am to ellesssuuu
What kind of deductibles do y’all have?
My agent said I’m grandfathered in with flat 1000$ deductible even for hurricane. She said the only way to lower my premium would be to change to 2% deductible. Which means I would have to pay about 9k out of pocket instead of 1k for a claim.
They wouldn’t budge with dwelling coverage/replacement amount due to inflation
My agent said I’m grandfathered in with flat 1000$ deductible even for hurricane. She said the only way to lower my premium would be to change to 2% deductible. Which means I would have to pay about 9k out of pocket instead of 1k for a claim.
They wouldn’t budge with dwelling coverage/replacement amount due to inflation
This post was edited on 3/16/24 at 7:11 am
Posted on 3/16/24 at 7:21 am to Raptordawg
self insure
Posted on 3/16/24 at 7:42 am to DaBeerz
Ida got us in 2021. In 2016 we had flood claim and busted water line claim with State Farm. Had been with them 25+ years with home, auto, life policies, the works. Two claims in 25 years before that, both hurricane. They dropped us. So we went to Allstate, huge mistake. They own Northlight, who underwrote us but at around 3K annually then, which was much higher. Had a dog bite claim in 2020 and they dropped pet coverage for 2021. Coverage still went up to $3800. Then Ida. Filed claim, wanted to pay out $4600 for estimated $46K in damage, of course that their crack adjustment team evaluated. Filed lawsuit with M&M, the firm that had two dozen lawyers disbarred last March. My suit was never even filed yet, which I did not know. Got another attorney just in time to get it filed. Just wanted what's fair to fix home. Two months ago got my renewal notice, going up to $7K a year. I fell out................and started shopping. Got a new policy now that's better overall and $4K a year cheaper, for now anyway. Still have suit pending.
My point: I don't think most folks want a lawsuit, it takes forever to settle, but just want what's owed to them and fair. Now I know there are those that try to scam and get something when nothing is deserved, and that's what hurts the honest folks.
You just have to keep looking and shopping, and pray.
My point: I don't think most folks want a lawsuit, it takes forever to settle, but just want what's owed to them and fair. Now I know there are those that try to scam and get something when nothing is deserved, and that's what hurts the honest folks.
You just have to keep looking and shopping, and pray.
This post was edited on 3/16/24 at 7:42 am
Posted on 3/16/24 at 7:56 am to Wednesday
quote:
I think the solution is to have federal legislation protecting hurricane states, Gulf and Atlantic.
Doubling down on the failure that is NFIP and extending that subsidy (welfare) to more than just flood insurance?
Posted on 3/16/24 at 8:00 am to DaBeerz
In BR with STF. Deductible is 1% and 2% hurricane. Have auto as well
Posted on 3/16/24 at 8:41 am to Wednesday
quote:
I think the solution is to have federal legislation protecting hurricane states, Gulf and Atlantic.
The problem is not isolated to Louisiana.
The insurers should be required to pool their property insurance reserves for those states on a nationwide basis
Absolutely fricking not. I'm not pating more than my $2200 annual premium so I can subsidize premiums for people that choose to live in gulf states.
If you want to live in Louisiana or Florida, you eat the risk, not me.
Posted on 3/16/24 at 9:46 am to dafif
quote:
Go drive around and look at billboards and you'll know why claims payouts are so high
Yup, Morgan and Morgan, John Foy etc. And loads of people suing for the policy limits.
Labor & materials are way higher too. And no matter how real or fake climate change is, real dollar from your pocket will go to your insurance company with that as justification.
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