Posted on 04/01/2014 7:11:51 AM PDT by GYPSY286
Mine went up about 5% for regular homeowners and another amount for windstorm coverage which we have to have on the Gulf in my ZIP code.
Insurance companies keep raising the replacement cost which seems a little ridiculous “since we have no inflation”. Even if we have a Cat 5 hurricane, we’d still have our slab and lot left so I’ve never understood this.
The other thing that happens with the Wind insurance which is underwritten by the State of Texas is that we on the gulf have to pay into the pool to cover the significant fire damage costs which occurred in the Hill Country a few years ago.
Did do some shopping around and found homeowners which, by itself, was less but only if I also covered vehicles. Vehicle insurance was a lot higher than at present - not worth changing for less than $100 a year total difference between companies.
What I found when battling over replacement and repairs as a result of Ike was that you need an insurance agent that you know will go to bat for you with the carrier. That is worth a whole lot of money.
If I didn’t live in hurricane alley I would get the least expensive policy on the market.
Our HO insurance went up from $1,100 to $1,800 in the last billing cycle. No claims since a hail insurance claim four years ago ($1,500). The hail storm did over $200 million in damage to our small town of 25,000 folks.
I looked into HO insurance through Costco (Ameriprise) and we lowered our insurance to $680. Back where it was 10 years ago, same coverage - $275K structure.
We love Costco.
DOWN!? I say?
USAA: "Sir, you will not be falling down in the night tripping on things, your freezer will not spoil, your pipes will not freeze, and it adds value to your home".
Me: I LOVE USAA!
Where I live in N Nevada, the chronic break-ins have impacted home owners insurance.
So I shopped around and ended up saving about 30% with Safeco on the home/auto coverage with better coverage on the home.
So much for valuing our business.
Wow! That's a lot of Preparation H.!!!
FMCDH(BITS)
“I have full replacement cost, $1000 deductible, and never had any claims.”
Find out what your rate would be if you went to $2000.00 deductible. It can make a really big difference in rate.
“We had State Farm here in CO for 30 years or so. Were happy enough until we had a hail claim a few years ago. They nit-picked some of the roofing charges that their adjuster told me to document and have done if needed.”
Yeah, State Farm tried to lowball me on hail damage too in CO and I raised hell and made them come out again and went up on the roof and pointed out the tell-tell damage. They ponied up 100% replacement the second time, which was really big bucks because I had nearly irreplaceable super-thick wooden shakes. I used the money to replace the wrecked shakes with a Gerard steel roof. This is the second house I’ve owned in Colorado where I got a free roof from a hail storm, and in both cases the roof was nearly shot to start with and I needed a new roof anyway.
I’ve never worried about a fire, although I am sure it could happen. There is a hydrant right in front of my house and another one right across our narrow street. Our nearest fire station is only two miles away. Having been through Ike though I am familiar with what the wind is capable of doing.
That was their problem, the roof decking was a "maintenance" problem, not hail. How the heck do you maintain the roof deck while the shingles are on it?
Still, after 30 years you would think they were giving me their best rate. Yet I go down the street and save +/- 30% and get better home coverage.
LOL!! That is what I get for multi-tasking!! Get distracted and before you know it, wham-o!!!
Put the money in the bank by raising your deductible enough to cover the $250.
Wham-o indeed!
FMCDH(BITS)
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