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Posted: 3/29/2024 8:27:12 PM EDT
What the fuck. It’s now double what it was when I bought my house 6 years ago.
State Farm for those wondering. |
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Posted: 3/29/2024 8:27:58 PM EDT
[#1]
Welcome to the club pal….
 Did your auto insurance increase too? |
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Posted: 3/29/2024 8:29:17 PM EDT
[#2]
Buckle up. The party is just getting started.
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USA
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Posted: 3/29/2024 8:30:08 PM EDT
[#3]
Seeing the same increases in Missouri. Home and Auto.
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Posted: 3/29/2024 8:30:18 PM EDT
[#4]
Welcome to the party pal.
When I moved to my house in 2017, it was $760/year. It’s now $3400. No claims. |
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USA
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Posted: 3/29/2024 8:30:39 PM EDT
[#5]
Check rates with Allstate. Have state farm email your policy, forward to Allstate, easy.
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WY, USA
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Posted: 3/29/2024 8:30:42 PM EDT
[#6]
No such thing as a free lunch.
You’ve probably gotten a ton of equity from appreciation in 6yrs. Eat it or move into a van down on the river. |
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Posted: 3/29/2024 8:33:16 PM EDT
[#7]
All those free roofs because of hail damage weren’t so free after all.
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Posted: 3/29/2024 8:34:17 PM EDT
[#8]
We had the same thing happen, so we went out for quotes with other agencies. Found something from a big name with equitable coverage for a 5% increase (instead of the 30%) for the same coverage. I'm gonna start quoting all the big names for auto and home yearly from now on. (Which I probably should have always been doing but cie la vie.)
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TX, USA
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Posted: 3/29/2024 8:38:43 PM EDT
[#9]
Got a message from my agent, requesting a sit down, no thanks! I don't need you to spit in my face, grind the dirt in and tell me your hands are tied and maybe to ease your pain we can restructure your coverage.
On my only hand me down 24 year old GMT-400, YEAH IT HURTS. But I'd like to have the fantasy that I could find a cheap replacement and a little savings. |
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Posted: 3/29/2024 8:41:07 PM EDT
[#10]
Quote HistoryOriginally Posted By MHowski: All those free roofs because of hail damage weren’t so free after all. It’s not like it all the sudden hails more in DFW. |
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Posted: 3/29/2024 8:47:39 PM EDT
[#11]
Bootstrap harder and make more money.
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Posted: 3/29/2024 8:48:36 PM EDT
[#12]
Quote HistoryOriginally Posted By blackduck769: Check rates with Allstate. Have state farm email your policy, forward to Allstate, easy. Allstate has been doing blanket denials when shtf. Good luck after your house fire or tornado event. |
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TX, USA
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Posted: 3/29/2024 8:49:56 PM EDT
[#13]
State Farm wouldn't even write a home policy down here.
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Posted: 3/29/2024 8:52:07 PM EDT
[#14]
Quote HistoryOriginally Posted By MHowski: All those free roofs because of hail damage weren't so free after all. |
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Posted: 3/29/2024 8:53:16 PM EDT
[#15]
Quote HistoryOriginally Posted By M41A: It’s not like it all the sudden hails more in DFW. Quote HistoryOriginally Posted By M41A: Originally Posted By MHowski: All those free roofs because of hail damage weren’t so free after all. It’s not like it all the sudden hails more in DFW. Achuallyy https://www.kvue.com/article/news/local/2023-hail-info-texas/269-d63b7edc-413e-477f-a739-ca999ed85d69 Record hailstorms ravaged Texas last year, and forecasters are increasingly concerned about the rising costs associated with storm repairs. Storms in the Dallas-Fort Worth area in June 2023 caused an estimated $7 billion to $10 billion in insured losses, with 95% of the loss caused by hail. The CoreLogic report says it’s too early to determine if climate change caused so much damaging hail last year, but they clarify that the high cost of damages can be blamed on the rising cost of replacing roofs, windows and siding. And with more hailstorms like these, we’ll likely see increases in our property insurance bills in the months ahead. |
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TX, USA
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Posted: 3/29/2024 8:53:18 PM EDT
[#16]
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Posted: 3/29/2024 8:53:36 PM EDT
[#17]
Quote HistoryOriginally Posted By M41A: It's not like it all the sudden hails more in DFW. No but all of a sudden a new roof costs $30k instead of $10k. |
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AL, USA
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Posted: 3/29/2024 8:54:10 PM EDT
[Last Edit: Honeypot_DMZ]
[#18]
My home and car both went up a considerable amount recently and my salary did not. I already canceled Netflix, HBO Max, and Showtime to try to offset the difference a bit.
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USA
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Posted: 3/29/2024 8:54:33 PM EDT
[#19]
Impossible. The Fed says inflation is only 3 something percent.
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USA
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Posted: 3/29/2024 8:55:02 PM EDT
[#20]
Let's go Brandon.
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Posted: 3/29/2024 8:56:31 PM EDT
[#21]
Haven’t shopped around yet, got my renewal, up 30%. Insurance companies earn as much hate from me as democrats. Absolute scum
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Posted: 3/29/2024 8:57:24 PM EDT
[#22]
My auto insurance went up $379 a year.
When I called the insurance company to complain they said "hey, your homeowners insurance went down $79.00". Fucking jackasses. |
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Posted: 3/29/2024 8:58:02 PM EDT
[#23]
My homeowners insurance went up 44% this year.
I have never had a claim. My agent told me the same thing, all the hailstorm damage over the last few years, plus the increased property values… I’m shopping for a new policy. |
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FL, USA
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Posted: 3/29/2024 8:59:11 PM EDT
[#24]
Mine doubled last year. From 2,700 to 5,400. This year, it went up another 700. Don’t even get me started on auto. No claims, no accidents….. Farm Bureau…. Seems a new roof to replace my 15 y/o roof and then do some tap ins and have a wind mitigation done, may bring my homeowners down to around 3800.
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MI, USA
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Posted: 3/29/2024 9:01:09 PM EDT
[#25]
Quote HistoryOriginally Posted By M41A: It’s not like it all the sudden hails more in DFW. He's saying you are subsidizing a house in Ohio right now. That's how insurance works. |
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USA
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Posted: 3/29/2024 9:01:17 PM EDT
[#26]
Dumped state farm last month. Been with them for many years. My car insurance slowly crept up to about $4800 a year; haven't made a claim in something like 30 years.
After the last $60/month increase, I cancelled, and went with another well known company, and saved at least $1000/year. What irritated me was my agent got quite the attitude and outright lied when I sent him the quote so he could attempt to adjust the policy to come close in price. He couldn't. Sorry, bro. Just business. You'd have done the same. |
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Posted: 3/29/2024 9:01:57 PM EDT
[Last Edit: Busted_Flush]
[#27]
State Farm was just downgraded by AM Best to a B (fair) rating from an A rating. This is a HUGE deal as many home loans require the insurance to be with a carrier rated A- or better. State Farm is the canary in the coal mine and it’s only going to get worse from here.
Higher deductibles, wind and hail specific deductibles, all with higher premiums (and depending on your neck of the woods, that’s IF you can even get coverage). Insurance is a shitshow right now. ETA: State Farm posted a $14 billion underwriting loss last year. That’s not a way to remain solvent as an insurer. |
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Posted: 3/29/2024 9:02:23 PM EDT
[#28]
Quote HistoryOriginally Posted By Square66: Impossible. The Fed says inflation is only 3 something percent. That’s probably true but doesn’t tell the whole story, which would be that it was 7% in 2021 and 6% in 2022 so a couple years at 3% isn’t offsetting those high years. |
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FL, USA
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Posted: 3/29/2024 9:02:37 PM EDT
[#29]
My Florida insurance has more than tripled in the 8 years I’ve been here. No claims and there was no real Hurricane Michael damage other than a few trees within 25 miles. To those on the beach, you’re welcome for the subsidization you get from the poors inland.
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USA
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Posted: 3/29/2024 9:08:40 PM EDT
[#30]
Originally Posted By M41A: What the fuck. It’s now double what it was when I bought my house 6 years ago. State Farm for those wondering. You have to shop it every three years, @M41A. It sucks, but that's the way the industry works. I have bounced between Liberty Mutual, Nationwide, And State Farm. Every time it's the same thing . . . those "teaser" incentives roll off, but you can go and get them from the next company. Works every time. |
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FL, USA
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Posted: 3/29/2024 9:09:58 PM EDT
[#31]
Originally Posted By M41A: What the fuck. It’s now double what it was when I bought my house 6 years ago. State Farm for those wondering. You should move to Florida, we have it worse. |
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Posted: 3/29/2024 9:11:24 PM EDT
[Last Edit: burkeva]
[#32]
How much did your house go up in value? Whats the cost to replace it? Equity can be a suicide pact….unless you plan ahead. Too many simpletons don’t understand how things actually work.
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Posted: 3/29/2024 9:11:31 PM EDT
[Last Edit: BillofRights]
[#33]
Your dollars got 26% smaller.
Did you get a 26% raise? |
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Posted: 3/29/2024 9:11:59 PM EDT
[#34]
38% increase for my primary residence.
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Posted: 3/29/2024 9:15:33 PM EDT
[#35]
Move to a free state...
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Posted: 3/29/2024 9:16:13 PM EDT
[#36]
In my area the stated reason for the premium hikes is increased costs for replacements and repairs. Labor and material costs are way up.
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Posted: 3/29/2024 9:17:55 PM EDT
[#37]
Quote HistoryOriginally Posted By MHowski: Achuallyy https://www.kvue.com/article/news/local/2023-hail-info-texas/269-d63b7edc-413e-477f-a739-ca999ed85d69 Quote HistoryOriginally Posted By MHowski: Originally Posted By M41A: Originally Posted By MHowski: All those free roofs because of hail damage weren’t so free after all. It’s not like it all the sudden hails more in DFW. Achuallyy https://www.kvue.com/article/news/local/2023-hail-info-texas/269-d63b7edc-413e-477f-a739-ca999ed85d69 Record hailstorms ravaged Texas last year, and forecasters are increasingly concerned about the rising costs associated with storm repairs. Storms in the Dallas-Fort Worth area in June 2023 caused an estimated $7 billion to $10 billion in insured losses, with 95% of the loss caused by hail. The CoreLogic report says it’s too early to determine if climate change caused so much damaging hail last year, but they clarify that the high cost of damages can be blamed on the rising cost of replacing roofs, windows and siding. And with more hailstorms like these, we’ll likely see increases in our property insurance bills in the months ahead. Lack of the  emoji fooled you...
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Posted: 3/29/2024 9:19:39 PM EDT
[#38]
My homeowners has gone up ~x3 & auto is close to the same...
...damn Californians |
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USA
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Posted: 3/29/2024 9:23:31 PM EDT
[#39]
Gotta ask yourself. Are you better off now vs. four years ago? Seems like we are all eating a big shit sandwich.
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Posted: 3/29/2024 9:26:15 PM EDT
[#40]
keep over bidding homes people... keep those wifeys happy.
Quote HistoryOriginally Posted By burkeva: How much did your house go up in value? Whats the cost to replace it? Equity can be a suicide pact….unless you plan ahead. Too many simpletons don’t understand how things actually work. |
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TX, USA
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Posted: 3/29/2024 9:26:37 PM EDT
[#41]
Quote HistoryOriginally Posted By MHowski: All those free roofs because of hail damage weren’t so free after all. |
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Posted: 3/29/2024 9:27:28 PM EDT
[#42]
guess the never Trumpers need to toss that one around.
Quote HistoryOriginally Posted By BigSky171: Gotta ask yourself. Are you better off now vs. four years ago? Seems like we are all eating a big shit sandwich. |
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Posted: 3/29/2024 9:28:44 PM EDT
[#43]
Quote HistoryOriginally Posted By BigSky171: Gotta ask yourself. Are you better off now vs. four years ago? Seems like we are all eating a big shit sandwich. Everyone's house is worth a lot now though. Big time equity. Cash that puppy out and put it all on NVDA baby. We're all gonna make it. |
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IL, USA
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Posted: 3/29/2024 9:29:31 PM EDT
[#44]
Well, if State Farm did not spend a BILLION dollars on advertising with loser blm, athletes, dei bs, LGBTQIA’s, the rates would definitely decrease. I complained to them, did you?
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Posted: 3/29/2024 9:30:23 PM EDT
[#45]
Quote HistoryOriginally Posted By M41A: It’s not like it all the sudden hails more in DFW. No but some people are retarded and believe everything the ambulance chaser roof salesmen tell them. |
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CT, USA
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Posted: 3/29/2024 9:30:52 PM EDT
[#46]
Mine just went down ~5% and I had a >$100k claim 13yrs ago.
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Posted: 3/29/2024 9:32:45 PM EDT
[#47]
Quote HistoryOriginally Posted By MHowski: All those free roofs because of hail damage weren’t so free after all. I had my roof replaced last year for hail damage. 32k. Looking forward to this year's insurance quote. Country Companies. I suppose as long as you have your house paid off, you're not really required to carry insurance. |
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CO, USA
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Posted: 3/29/2024 9:33:56 PM EDT
[#48]
I pay $500 per month for State Farm. Top tier coverage vehicles worth $100k and dwelling worth $406 and a million umbrella and I pay $500. Allstate just quoted $700.
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TX, USA
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Posted: 3/29/2024 9:35:58 PM EDT
[#49]
Check out Farm Bureau. I saved $2,000.00 a month on my house policy alone after dropping State Farm and going with Farm Bureau with the exact same coverage. I now have Farm Bureau for my house and both trucks. Bonus is that the Farm Bureau agent lives local to me and the claims adjusters are local, not out of staters like Start Farm used. In case I forgot to mention it, fuck State Farm.
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MS, USA
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Posted: 3/29/2024 9:43:07 PM EDT
[#50]
My policy went up again this year. It was about to be 85% higher than it was when we moved in four years ago.
Built a house on some farm land wife and I purchased and just resolved to understanding that's what it's going to cost out here. Policy has some sort of replacement clause built into policy that re-rates the cost to rebuild house if it's destroyed over time. Gone up a good bit since we moved in. I need that type of provision. Anyway doesn't make it any easier to swallow. I decided to do a little investigating and learned that I was paying a premium based on the worst fire protection rating in the state, but am served by local volunteer that did some significant upgrades a few years before we moved in and I actually have a fire protection rating much better. Premium recalculation resulted in my new premium being less than what it was when we moved in. I'm expecting a sizable refund check for overpayment soon too. Also raised deductible to 2500 which knocked another good chunk off the premium. This probably won't apply to most folks in an existing neighborhood but it cut my premium in half by checking into this. might be worth a little effort to verify for someone else here? |
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