Home insurance - 27% increase

[Danny2021]

Insurance is the biggest legalized scam there is.

 

[TexasRedneck]

Insurance is the biggest legalized scam there is.

Right up until the day you need it.

 

[Grumps21]

Insurance is the biggest legalized scam there is.

Why do I need liability coverage on every vehicle I own? I can only drive one at a time. Between me and my wife we have 3 autos and 3 bikes. I should only be paying for the two most expensive, and since this is liability, it’s probably rated by amt of damage that could result on another’s property. It would probably be my truck and wife’s SUV, so the car and three bikes should ride off of those other two policies. This is the part of insurance that is a scam. Collision and comprehensive is vehicle specific and I don’t really have a beef with that type coverage. Either take or you don’t.

 

[TexasRedneck]

Why do I need liability coverage on every vehicle I own? I can only drive one at a time.

Because too many other folks allow others to drive the other vehicles.

 

[baboon]

Right up until the day you need it.

If one was to put away the costs for insurance policies, they might be ahead!

 

[toddnjoyce]

Why do I need liability coverage on every vehicle I own?

Need isn’t the issue, state law requires it. If there is a lienholder, it protects their interest in the collateral, which is why they generally also require collision or comprehensive along with liability.

Because too many other folks allow others to drive the other vehicles.

Why did the individual states eventually mandate minimum liability?

 

[Grumps21]

Need isn’t the issue, state law requires it. If there is a lienholder, it protects their interest in the collateral, which is why they generally also require collision or comprehensive along with liability.

I was using “need to have” in the context of forced to have. Liability does nothing for the lien holder. It only protects the person or property the insured damages. You are correct about the collision and comprehensive being required by the lien holder, and I’m not arguing that point. I definitely agree.

 

[Texas45]

I have an independent insurance agency that finds me the best deals on insurance on a yearly basis. So I change companies every once in awhile.

I have United Heritage currently. $500 & change yearly for the coverage that we need.

I don't do biz with Progressive and never will.

Thats what I had before switch to farm bureau. I had been with same independent agent since 1976 switched in 2018. Sometimes complacency costs money.

I figured as a good agent/friend (he also was Mom n Dads and my Sisters agent as well as friend of us all.) Thought we were being more or less looked after. Seems even independent agents cant always provide best deal. He is still a family friend however.




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[oldag]

Appreciate the suggestions.

 

[oldag]

Mine went up as well.

Don't forget, wood prices have skyrocketed, that means replacement prices are way up....

Insured value went up 10%, vs. 27% premium increase.

 

[avvidclif]

Mines with Hartford and it went up 16.4%. I'm looking around

 

[baboon]

I have an independent agent that I have had for 30 years. He knows to shop around on price, yet keep the coverage.

He told one year that progressive had the best rates. He is also a hunter gun owner & Trump kind of guy. I told him is progressive was the best he could do I would find another agent! He also knows that I see insurance as a total scam! He fully aware that my FIL was an insurance agent and I wouldn’t do business with him!

When we moved out of Houston both homeowners & auto insurance went down. I guess with the increase I’ll be back to we’re I was.

 

[rotor]

My USAA homeowners went up 8% this year. My property value at the tax board was the killer.

 

[Glenn B]

I could not imagine my insurance going up - what was it 27%! What sort of claim did you make or what did you do to get hit with that large of an increase? If no claims and no accidents and no other negative stuff on your part then something is rotten at your insurance company and you definitely need a new one or so I think.

Of course, Texas has ridiculous insurance rates, at least for auto insurance. When I moved here from NY, my rates increased for what wound up being somewhat less coverage since I was told there is no option to get 100% glass coverage under comprehensive, and that is supposedly because of TX state law. I also got less uninsured motorist coverage again because of state law or so I was told. I had no accidents, no tickets, no reason for my rate to rise except that I relocated to TX. I was told the rate is higher here, than in NY, because of a larger amount of uninsured drivers in TX. You, or at least I, would have thought that NY would have had more of them, because of all the worthless skells who live there, but I guess not.

 

[oldag]

I could not imagine my insurance going up - what was it 27%! What sort of claim did you make or what did you do to get hit with that large of an increase? If no claims and no accidents and no other negative stuff on your part then something is rotten at your insurance company and you definitely need a new one or so I think.

No claims.

 

[IXLR8]

I doubt that the increased rate covers the unbelievable cost of wood and building materials now. I guess I will find out in November when my renewal comes in.

 

[Glenn B]

No claims.

Sounds like you afre being robbed.

 

[Coiled]

Amica is a company I’ve heard good things about for price and service; they are very selective on who they insure and don’t really market.

TL;DR - I've had Amica for home and/or auto for @30 yrs and have been very satisfied when I make a claim.

MANY decades ago (as in before I needed insurance) I remember my parents saying you had to be referred to Amica by an insured in order to get a policy. A few years back they did an annoying quantity of TV ads for quite a long time, at least in the Houston market. They have long been JDP top rated, often #1 for customer satisfaction for both home & auto.

In '92 I bought a house constructed @'67 and within in 12 months a hail storm came through. The adjuster came out and while we were still on the roof he said, 'we're not gonna pay, this roof has <1/4 life expectancy remaining'. He was right, it was old, but about 2 weeks later I got a check from Amica for @ 1/2 what it cost to re-roof including decking because the original cedar shakes were under the deteriorated fiberglass.

 

[SA_Steve]

Looking at recent price increases, remember that some companies discounted their last 6 month bill due to less miles being driven in the middle of the virus. I've got what feels expensive (State Farm), they gave a much smaller virus discount than those reported on TV. I carry the max homeowner plus two cars and a liability umbrella. The umbrella has more than doubled in the last 7 years, the others up 35% during that time probably due to my, and wife's, and car's advancing age. Time to shop around, the 3 yr battle with SF to get my roof replaced almost a year ago was painful. No other claims with them in 7 years.

It is always funny to hear about state laws that protect banks and insurance companies against their customers. Wonder how they happen?

 

[ST5MF]

Germania smoked USAA.

USAA has become a huge joke. They are riding out their reputation from decades ago and long time members haven’t looked elsewhere as a result.