Home owner insurance hikes

[snow2]

Again?!?
After all the tornado and severe weather across our nation last summer now all the massive destruction from Hurricane helena I suspect we'll all get hit with even higher insurance premiums again going into 2025.
Never ending premium hikes,my old farmers insurance agent told me a few years ago when my insurance bundle premium jumped over 20% "we all need to pay our fair share".

 

[Obi-Wan]

Just another excuse for them to raise rates. Isn’t most of the damage from flooding which homeowners in’s does not cover.

 

[rodcontrol]

the price of labor and materials is what is continually raising your rates. Companies were not positioned for what happened after covid. It is true , bad weather is getting worse and more frequent. Reinsurance companies are raising there rates double to triple since covid, that also gets passed onto the consumer. If you don't want to be forced to purchase insurance, don't borrow money. Liability only is cheap.

 

[Downrigger]

the price of labor and materials is what is continually raising your rates. Companies were not positioned for what happened after covid. It is true , bad weather is getting worse and more frequent. Reinsurance companies are raising there rates double to triple since covid, that also gets passed onto the consumer. If you don't want to be forced to purchase insurance, don't borrow money. Liability only is cheap.

But, total loss of most Americans primary asset isn’t easily replaceable without the assistance of insurance. I’ve just increased my deductible to where I know I’ll be paying cash for certain things but safe guarding against total loss. Keeps my insurance costs manage and as long as I have a good cash reserve and understanding that I might need this money for that I found it to not be so bad.

 

[snow2]

Just another excuse for them to raise rates. Isn’t most of the damage from flooding which homeowners in’s does not cover.

Well last summe small towns and neighborhoods were completely destroyed by tornadoes and inline winds

 

[snow2]

Shop insurance companies again this year,raise deductibles,nix full automobile insurance coverage as we get the shake down once again

 

[Obi-Wan]

This is what many will be dealing with after this latest storm.

https://www.cbsnews.com/news/florida-family-hurricane-ian-insurance-payout-accusations-60-minutes/

 

[johnr]

People in the danger zone should be the ones paying the danger fee.

I have never had a homeowners claim in 29 years of home ownership. Should account for something.

Just like my hot skinny wife pays the lowest life and health premiums, as I pay the mid level.

 

[Obi-Wan]

Well last summe small towns and neighborhoods were completely destroyed by tornadoes and inline winds

Isolated areas not wide spread. Unless insurance companies are over saturated in any given area there should not be a problem. Are insurance companies limited to the # of policies or dollar amount they can insure in a given area? If they are not limited they should be to spread out the risk from a given event or events.

 

[Obi-Wan]

People in the danger zone should be the ones paying the danger fee.

I have never had a homeowners claim in 29 years of home ownership. Should account for something.

Just like my hot skinny wife pays the lowest life and health premiums, as I pay the mid level.

Does she have to pay extra for the equipment modifications using non standard OEM parts ?

 

[johnr]

Does she have to pay extra for the equipment modifications using non standard OEM parts ?

Its a HIPA thing

 

[risingsun]

Its a HIPA thing

She probably be a buckin' bronc and throwin your hipa right out. NICE!!!!!!!!

 

[snow2]

Isolated areas not wide spread. Unless insurance companies are over saturated in any given area there should not be a problem. Are insurance companies limited to the # of policies or dollar amount they can insure in a given area? If they are not limited they should be to spread out the risk from a given event or events.

Few years back before I shit canned farmers insurance my agent told me we all pay extra nationwide fo all the national weather disasters, found a insurance broker that shopped rates,saved me alot of $$ doing so w/o reducing insurance coverage or jacking up my deductible, this may change with the recent hurricane damage down south,my premium is due in January, time will tell but i suspect we all will get hit this year as the severe weather the last 10months was a doozy.