This is being done to people all along the coast. It may cost 20 billion to pay out after storm, but that is easy when as an industry, they are collecting 100 billon per year. But they sure make it seem like they are broke and MUST raise rates.
This is being done to people all along the coast. It may cost 20 billion to pay out after storm, but that is easy when as an industry, they are collecting 100 billon per year. But they sure make it seem like they are broke and MUST raise rates.
If you choose to live where substantial damage can occur on a yearly basis then either move or stop whining about it. Everyone pays more when a hurricane happens but it is just not as substantial as those who live where they occur. My best friend is a SF agent and he tells me that premium increases are spread to everyone when there is a significant disaster.
I can say the same for Flood Insurance. Why do people who don't live in a flood zone have to pay for people that do. If you have a second home your flood insurance rates are higher to help subsidize those that live in a flood zone. I simply got rid of my flood insurance on our second home.Originally Posted by angleiron
Down here, many companies have left. There are very few companies left and major insurers like All-State and State Farm simply will not write homeowners policies. Mortgage companies demand you have insurance so we are stuck with the State’s plan of “insurance”….super high premiums and super high hurricane deductibles.
All my house policies went up here $500 a piece I was told it was due to losses down south, what ever your paying its not enough to compensate all the claims over and over down south. I feel bad for you all but now we are paying for it too not even in high claim areas.
BULLET 21XRS 250 SHO
Its everywhere, have a house in Katy, Texas west of Houston. Trying to raise my insurance 1-2k last year. I had a hard time finding an insurance company that did not charge the extra 1500 everyone was wanting. In Brookeland, Texas, by Lake Sam Rayburn they raised me over $1100 in the last 2 years.
This is the next issue to make homes unaffordable and possibly cause more home ownership issues. Heck I make less this year, compared to the last 10. But costs of everything just keeps going up.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
We are not in a flood zone thank goodness and I'll pay the extra 1800 because it's way better than having to live in a sh$those like Illinois.....
How much of the 1344.00 are just taxes?????
Better look because no one does! Look at every single bill you pay - TAXES ADDED!!!!!!!
If professionals who's careers depend on catching fish use FFS then that's what I'm using. Might be too simple of a philosophy but makes sense to me.
I was just thinking that my homeowners’ insurance was only around $1400 when we built the house 5 years ago, and it is now up for renewal for almost $2400. Unfortunately, it is also the same company as auto because my company’s employee lease program requires that auto insurance is deducted from our paychecks from 1 of 4 insurance companies, so my options are limited if I shop around.
1985 Skeeter SF-175 & 1985 Evinrude 150 XP (with VRO removed)
Taxes are a lot cheaper in North Carolina. Just sayin.
Unfortunately, that is true.IMO this is all by design to "encourage" people to become lifetime renters. Why do you think all of these big corporations have been investing so heavily into the single family housing market?
Louisiana average premium in 2024 is being raised by 23% up to an average of $7800. That puts Louisiana second behind Florida who is raising their average premium by 6.9% to an average of $11,800. There are currently projections for more increases going into 2025. They are basing this on storm projections for 2024 into 2025. Allegedly going to be a bad season during this time. I just got a bill from my mortgage company for about $2,000 to cover the deficit in my escrow for this year.
My mothers homeowner's went up from $3800 to $6900 this year. She can't afford to pay that so we dropped the wind coverage as she has a metal roof. Her house has withstood every storm since the 50's so we will just take our chances. Mother will be 94 this year.
Wanted to add, by dropping the wind coverage her premium for the year was $670.00. If she goes three or more years without problems she can put her own roof on.
All sheep are eventually led to slaughter
what is the ballpark value of the home?
That sounds frustrating indeed. It's important to find an insurance company that offers fair rates and reliable service. If you're considering alternatives, it might be worth reaching out to the california fair plan association customer service. From my experience, they've consistently provided excellent service and fair coverage options. Exploring your options and gathering information from reputable sources can help you make a more informed decision about your insurance provider.
Last edited by RockOn; 04-17-2024 at 04:05 PM.
Sounds really Bad
But I just switched Insurence for the reason mine what up
I don't live in a high risk or flood plain and refuse to pay for those that do
Best of Luck
The current state legislature is more concerned about banning books and persecuting the LBGTQ crowd than they are about doing anything for the people of this state of Florida. DeSantis owns this insurance problem but will not hold the insurance companies feet to the fire. The insurance lobbyist group has been playing them like a fiddle. Add in political donations and its the perfect storm to screw the consumer.
It's all about the government's priorities. This is also why Lake Okeechobee and all our lakes are on the decline.
I broke a water pipe under the house in the crawl space. Flooded. I went to my State Farm agent to see about a claim and my deductable. My deductable is $1000. Plus a slight add-on. 2&1/2% of the market value. Talk about useless!!!!
That is on the results, not the broke pipe.
P.S. that would be over $8500 deductable. Useless.
Last edited by billnorman1; 04-04-2024 at 02:29 PM.
I paid 1500 yr south of Houston with windstorm on a 340,000 home. Now pay 1300 for a 350,000 on 1.6 acres in east texas. Both homes new builds. I feel lucky compared to some of you.
Gotta let me know know who your insured with.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
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