Did your homeowners insurance premium go up?

WWhittle · 03-28-2013, 11:07 AM

Mine increased by over $500/year. When I called, they told me that "the cost to replace had increased from when I originally moved in and got the insurance." When I told her that she was incorrect, it was the opposite (decreased), her response was "what exactly are you basing your opinion on?" Now, ya'll know I like a good debate and will take either side just for the fun of it, so I saw this as a challenge question, lol. Since I'm in the industry, I thought I was qualified to answer the question- the problem was that I was arguing with a computer and an idiot. When I told her that, she hung up on me. Lol.

Shopping for insurance now, any recommendations for home and car?

Jimmyz18 · 03-28-2013, 11:12 AM

I've heard this from alot of people, one person told me they were told by their insurace company that the value of their house went up, therefore it cost more to replace, similar to yours. I haven't seen too many house go up in value enough to raise your rates...lol Just another way to get in your pockets......the CEO needs a bonus

Darryl Buckner · 03-28-2013, 11:13 AM

Mine with State Farm went up last year by about that amount. When I called my agent she told me it was due to the increased price of materials like lumber, and that due to that my house would cost them more money to rebuild it in the event something bad was to happen. I have cars, home, and life policies with them, and havent made a claim in 25 years, I should be pure profit to them by now, but I guess I am just making up for the irresponsible idiots in the world..

Jimmyz18 · 03-28-2013, 11:14 AM

We use Safeco for ours cars and American Allaince for our house, it's combined so we get the bundled discount

ForceFed4g63 · 03-28-2013, 11:17 AM

My home value has gone up but for some reason or another my premium only went up like $30 or so for the year. Can't remember the name of the company but it's not much. Then again my home didn't cost much in the first place lol

We use USAA for car insurance, pretty much dirt cheap.

Darryl Buckner · 03-28-2013, 11:18 AM

I think insurance increases are at every company. Off subject, but I have Blue Cross health insurance for myself and employees, and while we seen about an 8% increase this year, it is supposed to increase 33% next year. I don't know how much longer I can afford to offer health insurance as a benefit to my people, they may have to start paying for all of it.

WWhittle · 03-28-2013, 11:19 AM

Well that's a bunch of bullshit in my case. I know what it cost to build my home in 2006 and I know what it would cost to rebuild today. It's less, or worse case scenario it's the same, without a doubt it's not more.

Cost of materials were at an all time low about a year ago, I didn't get any letters in the mail reducing my rate. Yes, this past October material cost started to creep back up but it's still below where it was when I procured my policy originally and cost to build right now would still be considered "good". Definitely not increased, definitely nothing to justify a premium increase.

They don't like to debate it though, they just hang up. Bastards.

WWhittle · 03-28-2013, 11:23 AM

Quote:

Originally Posted by ForceFed4g63

My home value has gone up but for some reason or another my premium only went up like $30 or so for the year. Can't remember the name of the company but it's not much. Then again my home didn't cost much in the first place lol

We use USAA for car insurance, pretty much dirt cheap.

Increaesed home value and cost to replace are two different things. Your insurance is based on cost to replace.

Quote:

Originally Posted by Darryl Buckner

I think insurance increases are at every company. Off subject, but I have Blue Cross health insurance for myself and employees, and while we seen about an 8% increase this year, it is supposed to increase 33% next year. I don't know how much longer I can afford to offer health insurance as a benefit to my people, they may have to start paying for all of it.

Tell me about it. My health insurance just went up $50 a month too.

And you are right, insurance increases are at every company, but I haven't shopped it since the day I moved in so I am hoping I can find another company to insure me for a little lower premium to offset the increase.

My beef is the reason for the increase, it's bullshit.

Darryl Buckner · 03-28-2013, 11:23 AM

I am sure somewhere the government is responsible. 85% of the populous is employeed by the so called small businesses, and I for one, as a small business, am taking a beating from all the operating increases..

ForceFed4g63 · 03-28-2013, 11:25 AM

Quote:

Originally Posted by WWhittle

Increaesed home value and cost to replace are two different things. Your insurance is based on cost to replace.

I gotcha, I did get that report that shows how much the estimate to replace it is, I'll have to take another look.

ForceFed4g63 · 03-28-2013, 11:26 AM

Quote:

Originally Posted by Darryl Buckner

I am sure somewhere the government is responsible. 85% of the populous is employeed by the so called small businesses, and I for one, as a small business, am taking a beating from all the operating increases..

http://www.nationalreview.com/corner...states-much-mo

Darryl Buckner · 03-28-2013, 11:27 AM

Quote:

Originally Posted by WWhittle

Increaesed home value and cost to replace are two different things. Your insurance is based on cost to replace.

Tell me about it. My health insurance just went up $50 a month too.

And you are right, insurance increases are at every company, but I haven't shopped it since the day I moved in so I am hoping I can find another company to insure me for a little lower premium to offset the increase.

My beef is the reason for the increase, it's bullshit.

The big things I noticed when shopping home owners insurance, and it may not matter to you, was percentage of homes value to replace contents. Farm Bureau for instance was waaaaay cheaper then State Farm, but only 30% for contents, State Farm was 70%, so I stayed..

WWhittle · 03-28-2013, 11:36 AM

Quote:

Originally Posted by Darryl Buckner

The big things I noticed when shopping home owners insurance, and it may not matter to you, was percentage of homes value to replace contents. Farm Bureau for instance was waaaaay cheaper then State Farm, but only 30% for contents, State Farm was 70%, so I stayed..

For the most part, insurance policies are so hard to understand that you don't know what the hell you are and are not getting anyway. It's damn near impossible to compare apples to apples. I shopped for health insurance a month or two ago and the language is so confusing, and the coverage is so different from one to the other, you can't compare. I ended up giving up.

Does anyone have Progressive for everything? I was going to get a quote from them.

WTFWSAT · 03-28-2013, 12:01 PM

I have progressive auto insurance and my rates have gone down over the last 3 years.

LXtasy · 03-28-2013, 12:18 PM

if you have flood insurance wait until you get that increase.

Mike · 03-28-2013, 12:45 PM

Last year I switched everything to Geico from State Farm, I saved at least 30%.

Illusions · 03-28-2013, 12:59 PM

I switched from Allstate to Nationwide and now have better coverage and no hurricane deductible. But I live far enough from the coast for Nationwide to cover my house. Coastal counties will have a higher rate and less choice's of insurance companies to go with.

I would stay away from Progressive due to their political ties to Obama and Santos.

http://www.snopes.com/politics/business/peterlewis.asp

Pesce Nero · 03-28-2013, 01:27 PM

Insurance Companies only care about 2 things, your credit score and how many homes, cars, whatever are insured in that perticuler area.

they spread their percentages of homes insured. If they have to many houses in one area then they will raise their rates and lower rates somewhere else that they are below their percentage for that area till they reach what they feel is an acceptable percentage of risk for that area. It has nothing to do with the cost of anything except how much they will be paying out if something happens in one area of the country

DIGGLER · 03-28-2013, 01:33 PM

everybody got a free roof last year. well, except for me..... i bought a $7200 roof out of pocket as well as the insurance increase.

2001hawk · 03-28-2013, 01:42 PM

I have been meaning to check into switching my homeowners policy over to Allstate, where my car insurance is, but haven't done it. I would have to look at who my homeowners policy is through. I did get a refund check from my mortgage company because they had overestimated what the insurance was going to cost when the escrow was figured up. They also said my mortgage payment would be coming down some, but that just means more of a principle payment every month. Woot woot. I can take news like that everyday.

03-28-2013, 11:07 AM	#1
WWhittle Senior Member Join Date: Apr 2008 Location: Mt. Pleasant, SC Posts: 3,899	Did your homeowners insurance premium go up? Mine increased by over $500/year. When I called, they told me that "the cost to replace had increased from when I originally moved in and got the insurance." When I told her that she was incorrect, it was the opposite (decreased), her response was "what exactly are you basing your opinion on?" Now, ya'll know I like a good debate and will take either side just for the fun of it, so I saw this as a challenge question, lol. Since I'm in the industry, I thought I was qualified to answer the question- the problem was that I was arguing with a computer and an idiot. When I told her that, she hung up on me. Lol. Shopping for insurance now, any recommendations for home and car?

03-28-2013, 11:13 AM	#3
Darryl Buckner The Top Dog Join Date: Dec 2007 Posts: 2,318	Mine with State Farm went up last year by about that amount. When I called my agent she told me it was due to the increased price of materials like lumber, and that due to that my house would cost them more money to rebuild it in the event something bad was to happen. I have cars, home, and life policies with them, and havent made a claim in 25 years, I should be pure profit to them by now, but I guess I am just making up for the irresponsible idiots in the world.. __________________ When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson

03-28-2013, 11:17 AM	#5
ForceFed4g63 Senior Member Join Date: Oct 2009 Location: Aiken Posts: 7,002	My home value has gone up but for some reason or another my premium only went up like $30 or so for the year. Can't remember the name of the company but it's not much. Then again my home didn't cost much in the first place lol We use USAA for car insurance, pretty much dirt cheap. __________________ 2000 WS6 2005 CTS-V 2004 Titan QC 4x4

03-28-2013, 11:18 AM	#6
Darryl Buckner The Top Dog Join Date: Dec 2007 Posts: 2,318	I think insurance increases are at every company. Off subject, but I have Blue Cross health insurance for myself and employees, and while we seen about an 8% increase this year, it is supposed to increase 33% next year. I don't know how much longer I can afford to offer health insurance as a benefit to my people, they may have to start paying for all of it. __________________ When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson

03-28-2013, 11:23 AM	#9
Darryl Buckner The Top Dog Join Date: Dec 2007 Posts: 2,318	I am sure somewhere the government is responsible. 85% of the populous is employeed by the so called small businesses, and I for one, as a small business, am taking a beating from all the operating increases.. __________________ When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson

03-28-2013, 11:12 AM	#2
Jimmyz18 Senior Member Join Date: Aug 2010 Location: Ladson Posts: 734	I've heard this from alot of people, one person told me they were told by their insurace company that the value of their house went up, therefore it cost more to replace, similar to yours. I haven't seen too many house go up in value enough to raise your rates...lol Just another way to get in your pockets......the CEO needs a bonus

03-28-2013, 11:14 AM	#4
Jimmyz18 Senior Member Join Date: Aug 2010 Location: Ladson Posts: 734	We use Safeco for ours cars and American Allaince for our house, it's combined so we get the bundled discount

03-28-2013, 11:19 AM	#7
WWhittle Senior Member Join Date: Apr 2008 Location: Mt. Pleasant, SC Posts: 3,899	Well that's a bunch of bullshit in my case. I know what it cost to build my home in 2006 and I know what it would cost to rebuild today. It's less, or worse case scenario it's the same, without a doubt it's not more. Cost of materials were at an all time low about a year ago, I didn't get any letters in the mail reducing my rate. Yes, this past October material cost started to creep back up but it's still below where it was when I procured my policy originally and cost to build right now would still be considered "good". Definitely not increased, definitely nothing to justify a premium increase. They don't like to debate it though, they just hang up. Bastards.

03-28-2013, 12:01 PM	#14
WTFWSAT Senior Member Join Date: Nov 2007 Location: Summerville Posts: 861	I have progressive auto insurance and my rates have gone down over the last 3 years. __________________ Fastest stock computer 5.0 on the planet! Looking for cheeep msd 6al! PM me! 88 Coupe (turtle) 03 Cobra (tortoise)

03-28-2013, 12:18 PM	#15
LXtasy Senior Member Join Date: Dec 2006 Location: Summerville, SC Posts: 9,564	if you have flood insurance wait until you get that increase. __________________

03-28-2013, 12:45 PM	#16
Mike Senior Member Join Date: Dec 2006 Location: Goose Creek, SC Posts: 5,481	Last year I switched everything to Geico from State Farm, I saved at least 30%.

03-28-2013, 12:59 PM	#17
Illusions Senior Member Join Date: Apr 2008 Location: In the Pits Posts: 2,247	I switched from Allstate to Nationwide and now have better coverage and no hurricane deductible. But I live far enough from the coast for Nationwide to cover my house. Coastal counties will have a higher rate and less choice's of insurance companies to go with. I would stay away from Progressive due to their political ties to Obama and Santos. http://www.snopes.com/politics/business/peterlewis.asp __________________ Illusions Grafix A Pair of "Jackstand" 01 Xtreme Blazers Last edited by Illusions; 03-28-2013 at 01:03 PM.

03-28-2013, 01:27 PM	#18
Pesce Nero Senior Member Join Date: Jul 2008 Posts: 2,680	Insurance Companies only care about 2 things, your credit score and how many homes, cars, whatever are insured in that perticuler area. they spread their percentages of homes insured. If they have to many houses in one area then they will raise their rates and lower rates somewhere else that they are below their percentage for that area till they reach what they feel is an acceptable percentage of risk for that area. It has nothing to do with the cost of anything except how much they will be paying out if something happens in one area of the country __________________ Last edited by Pesce Nero; 03-28-2013 at 01:30 PM.

03-28-2013, 01:33 PM	#19
DIGGLER Senior Member Join Date: Aug 2012 Posts: 1,458	everybody got a free roof last year. well, except for me..... i bought a $7200 roof out of pocket as well as the insurance increase.

03-28-2013, 01:42 PM	#20
2001hawk Senior Member Join Date: Aug 2010 Posts: 1,224	I have been meaning to check into switching my homeowners policy over to Allstate, where my car insurance is, but haven't done it. I would have to look at who my homeowners policy is through. I did get a refund check from my mortgage company because they had overestimated what the insurance was going to cost when the escrow was figured up. They also said my mortgage payment would be coming down some, but that just means more of a principle payment every month. Woot woot. I can take news like that everyday. __________________ People call me John, Jim, or Bobby.