This year's Homeowners/Auto increase

This year's Homeowners/Auto increase

PostBy: qbwebb On: Mon Oct 28, 2013 4:43 pm

Can I ask where you all are as a % increase for homeowners and auto this year compared to last? I have had 0 claims on auto and homeowners other than a winshield chip repair a couple years ago.

No tickets in at least 3 years and the last one was "failure to obey traffic control device" (thank you small town NYS sheriff for the so called "Break" it still broke my wallet at $240 for 40 in a 30 at midnight when no one was on the rd within last 10 min of 6 hr trip).

My Auto is relatively flat, but homeowners jumped 20%, I did one quote w/ e-surance and homeowners was better but auto much worse (a wash when you look at total price for home + auto) and of course the biggest discount is bundling auto and homeowners so I can't choose the best of both.
qbwebb
 
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Re: This year's Homeowners/Auto increase

PostBy: titleist1 On: Mon Oct 28, 2013 4:56 pm

welcome to the world of insurance where even though the word means 'shared risk' you will not find any insurance company willing to shoulder their share!

you are seeing first hand the impact of super storm sandy (and any other big storm payouts from last year that i am forgetting about) insurance losses being passed to consumers.

same thing happened a few years back when those 4 or 5 hurricanes hit FL and rolled up the east coast and if you are old enough to remember when hurricane andrew rolled through south FL about 20 years ago home ins premiums jumped then too.
titleist1
 
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Re: This year's Homeowners/Auto increase

PostBy: Rob R. On: Mon Oct 28, 2013 6:24 pm

My homeowner's went up $100...I called all over and found out that my current company is still the most competitive. Auto was a different story, my cost went up a little bit...$50 or so, but when I called around I got some quotes for hundreds less. I ended up switching our three cars to Liberty Mutual.
Rob R.
 
Stoker Coal Boiler: EFM DF520
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Re: This year's Homeowners/Auto increase

PostBy: michaelanthony On: Mon Oct 28, 2013 6:31 pm

My homeowners went up too and the agent came by and reviewed the policy and said we are grouped together and we all must share the burden of their corporate profit ;) , I mean claims! Legalized extortion, remember the movie "Good Fellas " protection...right :shock:
michaelanthony
 
Hand Fed Coal Stove: Vigilant 2310, gold marc box, vogelzang pot belly coat rack
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Re: This year's Homeowners/Auto increase

PostBy: qbwebb On: Tue Oct 29, 2013 10:09 am

Its really frustrating when the insurance company justifies the rate hike by an increase in the "Replacement Cost" to rebuild your home. I just went through an appraisal last year for a refinance and guess what, the spread between the appraised value and "replacement cost" is about 50k, but yet as a consumer I don't have the option to insure my home for the appraised value.

The real question is who is screwing me more, the bank by appraising low so they know I will come up with enough $ to have 20% equity in the house and avoid PMI or the insurance company by their artificially high "replacement cost."
qbwebb
 
Stove/Furnace Make: Harman
Stove/Furnace Model: VF3000

Re: This year's Homeowners/Auto increase

PostBy: michaelanthony On: Tue Oct 29, 2013 10:16 am

qbwebb wrote:Its really frustrating when the insurance company justifies the rate hike by an increase in the "Replacement Cost" to rebuild your home. I just went through an appraisal last year for a refinance and guess what, the spread between the appraised value and "replacement cost" is about 50k, but yet as a consumer I don't have the option to insure my home for the appraised value.

The real question is who is screwing me more, the bank by appraising low so they know I will come up with enough $ to have 20% equity in the house and avoid PMI or the insurance company by their artificially high "replacement cost."


Your home is the piece of bread and both the bank and the insurance co. are buttering the two side, and if you tell them you want your toast plain you will quickly hear the obnoxious buzzer from "Family Feud", wrong answer...and the Davis family are you ready to steal the game!
michaelanthony
 
Hand Fed Coal Stove: Vigilant 2310, gold marc box, vogelzang pot belly coat rack
Coal Size/Type: Pea, and a little nut
Other Heating: Very cold FHA oil furnace

Re: This year's Homeowners/Auto increase

PostBy: Richard S. On: Tue Oct 29, 2013 10:34 am

qbwebb wrote:No tickets in at least 3 years and the last one was "failure to obey traffic control device" (thank you small town NYS sheriff for the so called "Break" it still broke my wallet at $240 for 40 in a 30 at midnight when no one was on the rd within last 10 min of 6 hr trip).


Last ticket I had a ticket was for speeding and the previous one was probably around the time the cop was getting out diapers and he knew that. I didn't have my license on me and he asked, I'm assuming it was on his computer so he was testing me to make sure it was me. I don't know how it works in your area but the cop will "work with you" wink wink..... if you take it court. They get overtime and will usually agree to something else then. I said screw him and just paid it, didn't see any rise in my insurance rates but I have no accidents and no tickets...
Richard S.
 
Stoker Coal Boiler: Van Wert VA1200
Coal Size/Type: Buckwheat/Anthracite

Re: This year's Homeowners/Auto increase

PostBy: SMITTY On: Tue Oct 29, 2013 10:41 am

Everything has gone up here - homeowners, & auto.

Lately my homeowners seems to rise $100 every year. One claim almost 10 years ago for a leaky circuit panel, and I STILL had to pay almost $900 out of pocket to cover what the insurance wouldn't. :mad:
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SMITTY
 
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Re: This year's Homeowners/Auto increase

PostBy: Richard S. On: Tue Oct 29, 2013 10:47 am

In your house a leaky circuit panel wouldn't surprise me since you need a boat to get to your stove but how exactly is it a circuit panel is leaky?

FYI if you put in chinese drywall that is something to investigate becsue it was destroying copper.

Image
Richard S.
 
Stoker Coal Boiler: Van Wert VA1200
Coal Size/Type: Buckwheat/Anthracite

Re: This year's Homeowners/Auto increase

PostBy: SMITTY On: Tue Oct 29, 2013 11:07 am

Wow holy crap - that can't be good! :shock:

Actually the water was entering just above the meter, flowed through the meter, down the wire jacket and into the panel. I fixed it not long after that pic was taken with putty around the meter conduit, but the damage was already done. Besides the fact that was a Federal-Pacific breaker panel - google that one for a fun read! :lol:
SMITTY
 
Stoker Coal Boiler: Patriot Coal - custom built by Jim Dorsey
Hand Fed Coal Stove: Harman Mark III (not currently in use)
Coal Size/Type: Rice / Blaschak anthracite
Other Heating: Oil fired Burnham boiler

Re: This year's Homeowners/Auto increase

PostBy: Flyer5 On: Thu Oct 31, 2013 8:20 am

SMITTY wrote:Everything has gone up here - homeowners, & auto.

Lately my homeowners seems to rise $100 every year. One claim almost 10 years ago for a leaky circuit panel, and I STILL had to pay almost $900 out of pocket to cover what the insurance wouldn't. :mad:





You have ele' tricite' leakin all out yur wires. :D
Flyer5
 
Stoker Coal Boiler: Leisure Line WL110
Hot Air Coal Stoker Stove: Leisure Line Pioneer

Re: This year's Homeowners/Auto increase

PostBy: SteveZee On: Thu Oct 31, 2013 8:41 am

qbwebb wrote:Its really frustrating when the insurance company justifies the rate hike by an increase in the "Replacement Cost" to rebuild your home. I just went through an appraisal last year for a refinance and guess what, the spread between the appraised value and "replacement cost" is about 50k, but yet as a consumer I don't have the option to insure my home for the appraised value.

The real question is who is screwing me more, the bank by appraising low so they know I will come up with enough $ to have 20% equity in the house and avoid PMI or the insurance company by their artificially high "replacement cost."


There's the rub right there in the "replacement cost" BS. Mine is up $800 :o this year due to re-evaluation. The house is 228yrs old and they could never even replace the shiplap siding on it since there isn't that much clear cedar left in the state of Maine! It's just another game the insurence industry plays that you cannot win. I asked why can't I buy the amount of insurence that I want? My home is paid for in full and there is no bank to use as an excuse. Sorry Sir, it doesn't work that way! :? It's market manipulation at it's finest. They should be proud.
SteveZee
 
Hand Fed Coal Stove: Glenwood Modern Oak 116 & Glenwood 208 C Range