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Re: homeowners insurance increase
[Re: Boone Liane]
#8142112
05/20/24 08:46 PM
05/20/24 08:46 PM
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Joined: Mar 2023
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
WI
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Ours has gone up two years in a row.
Switched companies last year.
About as cheap as we can get at this point.
This build back better has sure gotten expensive! Let's hope people think with their wallets and bills come November.
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Re: homeowners insurance increase
[Re: 8117 Steve R]
#8142190
05/20/24 10:33 PM
05/20/24 10:33 PM
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Joined: Oct 2007
North Central Kansas
Orlando
trapper
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trapper
Joined: Oct 2007
North Central Kansas
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Insurance companies are just like every other business. They have to be profitable to remain solvent. They save money, invest and purchase reinsurance, and sometimes that is not enough for the natural disasters, nuclear jury verdicts, repair costs, and inflation. They do not want to raise rates. But, they need to at times to survive. Look at how many companies have bailed out of Florida and California. The venues there are not good.
It is not easy to see what you are getting for your money with insurance. But, ask someone who has lost their house or had their assets tapped because of a traffic accident.
How much should insurance be for example on an $80,000 or $90,000 truck for comprehensive, collision, bodily injury, property damage etc? Cause a serious injury accident and you'll think it is cheap. Oh, and make sure you get the uninsured/underinsured motorist insurance coverage, because there is a really good chance the person who causes your accident either shopped for insurance with minimum limits...or doesn't have any.
If you want to save the premium and feel lucky, I believe some states if not all will let you post a bond instead of liability insurance and let you roll the dice.
My two cents.
Nature is reckless of the individual. Aldo Leupold.
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Re: homeowners insurance increase
[Re: Orlando]
#8142324
05/21/24 09:11 AM
05/21/24 09:11 AM
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Joined: Feb 2020
Indiana
Providence Farm
trapper
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trapper
Joined: Feb 2020
Indiana
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Insurance companies are just like every other business. They have to be profitable to remain solvent. They save money, invest and purchase reinsurance, and sometimes that is not enough for the natural disasters, nuclear jury verdicts, repair costs, and inflation. They do not want to raise rates. But, they need to at times to survive. Look at how many companies have bailed out of Florida and California. The venues there are not good.
It is not easy to see what you are getting for your money with insurance. But, ask someone who has lost their house or had their assets tapped because of a traffic accident.
How much should insurance be for example on an $80,000 or $90,000 truck for comprehensive, collision, bodily injury, property damage etc? Cause a serious injury accident and you'll think it is cheap. Oh, and make sure you get the uninsured/underinsured motorist insurance coverage, because there is a really good chance the person who causes your accident either shopped for insurance with minimum limits...or doesn't have any.
If you want to save the premium and feel lucky, I believe some states if not all will let you post a bond instead of liability insurance and let you roll the dice.
My two cents. As someone who's lawyer had to threaten my own insurance company inorder toget them to pay out the under insurance coverage part of my policy I think you have much to positive view of insurance companies. Or maybe it was when I made a claim on my home when amine blast cracked the foundation and they did all they could to get out of it. Yes, it's nice and smart to have more than enough insurance, but just because you bought and have been paying for said insurance does not mean the company won't try to screw you and likely will if you don't have a good lawyer.
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Re: homeowners insurance increase
[Re: KeithC]
#8142378
05/21/24 11:11 AM
05/21/24 11:11 AM
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Joined: Dec 2006
MN, Land of 10,000 Lakes
Trapper7
trapper
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trapper
Joined: Dec 2006
MN, Land of 10,000 Lakes
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Wisconsin property insurance companies hemoraged millions of dollars in payouts during the George Floyd/BLM riots. They are recovering their losses from you and other innocent property owners like you.
Keith Not to mention all the hail claims in the upper midwest the past couple of years. Some companies are no longer insuring homes at all. Some are only offering a $5,000 or $10,000 deductible on roofs. Some won't insure a home with a roof older than 15 years.
SIGN ON A FARMER'S FENCE: Do not cross this field unless you can do it in 9 seconds because the bull can do it in 10.
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Re: homeowners insurance increase
[Re: 8117 Steve R]
#8142382
05/21/24 11:18 AM
05/21/24 11:18 AM
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Joined: Dec 2006
williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
williamsburg ks
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Inflation is terrible thanks to the current administration. It hurts all of us check here to see if your representative voted to print more money in the last rodeo https://clerk.house.gov/Votes/2024151
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: homeowners insurance increase
[Re: 8117 Steve R]
#8142649
05/21/24 10:05 PM
05/21/24 10:05 PM
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Joined: Dec 2015
se South Dakota
NonPCfed
trapper
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trapper
Joined: Dec 2015
se South Dakota
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Insurance costs will be a noticeable driver in large social and demographic change in this country.
People in the more populated parts of California and Florida are being driven out my high home owner premiums, there will be places in coastal FL that will only have pre-fab housing, no stick-built on site dwellings, before long. Small businesses will be forced out of business as the cost of insurance becomes one of their major costs. Retired people on fixed incomes will be forced to sell their homes as both property taxes and insurance premiums rise about the rate of inflation and become one of their largest combined costs. The deep pockets will continue to pay higher premiums or they will band together to make a U.S. versions of "Lloyds of London" sort of consortiums. The continued consolidation of almost everything is not by accident...
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
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Re: homeowners insurance increase
[Re: bblwi]
#8142864
05/22/24 11:11 AM
05/22/24 11:11 AM
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Joined: Dec 2006
MN, Land of 10,000 Lakes
Trapper7
trapper
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trapper
Joined: Dec 2006
MN, Land of 10,000 Lakes
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A lot of it depends upon the type of coverage one buys. If you choose a set value or a max then rates can be lower. If you choose replacement coverage rates can really be going up. we have replacement on both of our lower value homes. Will be nteresting to see what our premiums will be this coming July. Replacement for our smaller two story home is probably almost twice what it is appraised for or estmated FMV.
Bryce Full market value and replacement cost are totally different. Some people don't understand that. Full market value is what a similar home in a particular area would sell for on the market. While replacement cost is based on what it would cost to rebuild the home if it were to become a total loss.
SIGN ON A FARMER'S FENCE: Do not cross this field unless you can do it in 9 seconds because the bull can do it in 10.
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Re: homeowners insurance increase
[Re: Gary Benson]
#8143125
05/22/24 08:50 PM
05/22/24 08:50 PM
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Joined: Feb 2010
Henderson, N.Y. Jefferson Co.
walleyed
trapper
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trapper
Joined: Feb 2010
Henderson, N.Y. Jefferson Co.
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Cellphone is next. Nothing but pop-up ads. Is there an honest ad blocker? Yes, My ad blocker is an old school land line telephone hanging on the wall of my house coupled with the National Federal DO NOT CALL registry. Never once had a pop-up ad, and no Telemarketers call me ever.  walleyed
"Provisional/Interim" member of NYSTA
"I Support Non-Resident Trapping"
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Re: homeowners insurance increase
[Re: 8117 Steve R]
#8143259
05/23/24 07:17 AM
05/23/24 07:17 AM
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Joined: Dec 2006
Pa
Wright Brothers
trapper
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trapper
Joined: Dec 2006
Pa
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Insurance haters.
But I've never filed.
You are due.
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Re: homeowners insurance increase
[Re: Swamp Wolf]
#8144122
05/24/24 05:15 PM
05/24/24 05:15 PM
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Joined: Mar 2023
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
WI
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Then, when you file a claim......they look for EVERY reason to not pay out. I got a new roof last year and they were fast and no issues.
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Re: homeowners insurance increase
[Re: WI Outdoors]
#8144168
05/24/24 07:22 PM
05/24/24 07:22 PM
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Joined: Feb 2015
Iowa
trapdog1
trapper
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trapper
Joined: Feb 2015
Iowa
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Then, when you file a claim......they look for EVERY reason to not pay out. I got a new roof last year and they were fast and no issues. As it should be, but that seems to be changing. Due to increased claims for wind, hail and such, insurance companies are losing money. Some have quit doing business in some areas because of it.
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