Homeowners insurance rates
Moms View Message Board: General Discussion Archive: Archive September 2005:
Homeowners insurance rates
I just checked all my State Farm policies online, and our homeowner's policy is $1461 a year! That increases my house note by over $100 a month Expect it to go UP UP UP upon renewal. The flood is $253 annually, well worth it, IMO. Expect that to go up as well.
The thing that irks me is, I have never made a claim in 20 years that I have owned this house and been insured with State Farm. And my premiums keep going up. I realize it's a business, and I realize that they have to raise the premiums at some point.
And I realize that I will get blasted for saying this, but there should be some sort of *reward*, if you will, for not making a claim, as in your premium shouldn't be increased by 25% or 30% or 50% or whatever - a few years ago, our premium was $780 annually, and then State Farm had this tremendous across-the-board increase. Same thing the next year, where my policy costs almost double what it was, in less than a 3 or 4 year period. And I've never made a claim! So why isn't a claim free record taken into consideration on homeowner's rates??
I spent the day with my friend, and she was battling with State Farm over loss of use benefits for evacuation. We are *in the system* with State Farm but have never heard from an adjuster, same as my friend. Apparently all the people who jumped on the bandwagon immediately after hurricane Katrina were handed $2000 and $2500 checks for loss of use, and now that we have waited and waited to hear from the adjuster as we were told to do, they have discontinued paying that. What????? I have loss of use coverage, I pay for this coverage, and I can produce receipts for my costs.
I am going to try once again to reach my agent tomorrow. When DH has spoken with State Farm, he hasn't gotten anywhere. They didn't even give him a claim number, stating they *were too busy to bother with claim numbers, they are using the policy holders' names*. I don't think that's true at this point. And obviously I'll have to handle this, because DH couldn't be less concerned about it.
How much do you pay for homeowner's insurance??
2500.00 for homeowners
350.00 for flood
Don't get me started on insurance. We were cancelled last year by our plan because they decided to no longer cover Florida. Our new policy is not as good as what we had.
I'm in IN. Homeowner's is $900/year and we don't have flood insurance.
Karen, I so admire the way you've handled everything! I would never have gotten through all the paperwork and red tape! I don't know what we pay (we're also with SF) but I think it's lousy that your insurance has gone up so much for something that was not your doing. They give a good drive discount, they should give a good homeowner one too!
Ame
If you put insurance claims in then insurance rates go up even higher than they do for you Karen.
We don't have flood insurance and we insure the house for only $200,000 and we pay about 750 for insurance. Liberty Mutual. State farm would be more but I heard they are better.
How do you all think Rita and Katrina are going to affect homeowners insurance nationwide?
I can come up with 2 reasons why it would go up for everyone.
1- With all of the claims pouring in from all of the areas in the Gulf that have been affected, the insurance companies are going to recoup their losses on the backs of the rest of their policyholders.
2- I have heard that the cost of building materials is going up- roofing, siding, lumber. If my house burns down, it will cost more to rebuild, which will also mean a rise in insurance rates.
This is affecting us directly b/c we are trying to sell our present home to purchase a newly constructed home, which now I have doubts that we will be able to afford insurance for.
Lisa, I know very well that the rates are going to go up astronomically for everyone due to Katrina and Rita, and any other storms we may all have the misfortune to go through this year. 
So it makes no difference if I make a claim or not, my rates are going up AGAIN, so I may as well make my claim.
Not only is the cost of the building materials going up, but the cost of fuel for transportation has gone WAY up, and many building products are *petroleum based* products.
Yvonne, your rates don't surprise me as much as I thought they would, because you are in FL. The guy we used to rent from on Cape San Blas is a realtor in the Mexico Beach area and sends us a newsletter a few times a year, and homeowners and flood insurance are big topics.
Feona, my neighbor drove to Baton Rouge a week after Katrina hit and picked up her $2000 check from Liberty Mutual. However, when Jen was in an accident and Liberty Mutual was the insurer, we had to go to court to get her medical bills paid.
It just makes me weary - insurance is such a game now.....
I was thining the same thing. I have heard on the news that homeowners ins will only pay if there is wind damage to homes. If the home was flooded, you'd think flood ins would pay. But no, flood insurers are trying to get out of paying b/c the floods were the result of the hurricane- if there hadn't been a hurricane, there would have been no flooding.
There was a woman in Grand Rapids, MI who was struck in her car by stray homemade fireworks. Her face was badly hurt and she needed reconstructive surgery. Her med ins won't pay b/c they say it was a car accident. Her car ins won't pay b/c they say it wasn't a car accident. Her med bills are $80,000.
Insurance is a joke.
You are right about the water damage coverages, flood covers those UNLESS the water damage comes from a hole in your roof. The water damage has to occur from actual flooding for flood to cover it.
I have damage to the roof of our storage bldg., which I *think* MIGHT be covered, because there's a section on my policy for *Dwelling Extension*, and it includes detached buildings, such as storage bldgs. And the only other damages I have are contents - as in freezer, etc.
And I also have Loss of Use coverage, so IMO, I SHOULD be able to make a claim - it says *actual loss sustained*.
Karen -
I work for SF. I could go into great detail on the entire rate hike but I won't. It's not just you that it affects. And, no, I don't get any discounts on any insurance. I wish. My rates went up, too, because of the catastropes we had last year. Did you know in a typical year we pay more for hail damage that we do for hurricane damage? It just doesn't make the national news.
Have you tried the 1-800-732-5246?
We are really just now getting out claims reps into the area in large numbers, about 9000 claims people working in the area. That doesn't count all of the thousands down there working behind the scenes.
We had to send a team of people (several hundered) down there to set up a campground for the claims reps to live in. The hotels are being used by the evacuees. We were chartering planes to fly the claims reps from Houston to Baton Rouge everyday so they could process claims. Houston had hotels available.
SF just purchased a campground as well as many many trailers for the reps to live in. They set up water and sewer for them and are now moving them in. This has taken place over the past couple of weeks. We had to make sure there was food, drinkable water, etc. We had to hire security as well as and purchase fuel tankers to fuel the cars. Then, we had to hire armed guards to make sure no one stole the tankers.
I'm not making excuses for your agent. But, I want people to realize it takes a huge effort for an insurance company to respond to a catastrophe like this. With this storm, it's different because there was so much devastation and we really couldn't find anywhere to put our claims folks. They weren't letting us into some areas and still aren't.
The claims people are human too. They are going to be away from their families for up to 6 months, maybe longer. They work 16 - 22 hour days and only get a day off every 2 weeks. They undergo a great deal of mental stress because they want to help but sometimes the limit of the policies don't allow them, too.
I know there are some mobile units set up down there, too. Have you tried that? I can get you locations if needed.
I'm truly sorry for your frustration. I admit my one and only claims experience with us was far from wonderful. But, I know the people I work with and the vast majority of they really do want to help the policyholders.
Let me know at the end of the week how it stands. I don't work in claims but I may be able to get you the inside scoop on how to get help faster. My coworkers are the ones setting up the claims sites and making sure we have phones, computers, etc. down there. My team mate is missing his first GD's baptism and his favorite aunt's funeral because he is so devoted to getting the people help down there.
Karen - This just came in over email. We still have 3 agents in your area with limited functions and 61 agents are totally down. Not sure of the names. By down, that means their doors may be open but they have no computers and no way to look up policyholder information. Going to a mobile site will be your best best or contacting an agent that is up and running. They are all working together on this so it doesn't matter which agent you go to.
I don't know if your agent is one of the ones affected or not. If you give me his name, I can try and find out.
We only pay $600 a YEAR for homeowners insurance.
Dora, I know it doesn't just affect me, I know that everyone is affected. The frustrating thing is *if* you manage to speak with someone, everyone tells you something different. My agent is Phil Luke.
USAA is the cheapest, by far. Are either you or your husband in the armed forces or a veteran?
Karen, I live in Plaquemines Parish, LA and my homeowners is 1137.00 with Allstate. We received our "loss of use" money while we were evacuated and that generated a claim number for us. Our adjuster was here two weeks ago and we have our check already. So far I'm please with the service. This is our first claim ever (we've been married 11 1/2 years) and I'm scared to death to see what our insurance will go up to.
Hey Dora, I know my last post sounded cold and bitter. I know the claims people are just doing their jobs, and I know that this is difficult for everyone involved, especially the ones that are on the front lines.
I also know that decisions regarding what an insurance company is willing to take the fall for are made at the top of the food chain, and I don't appreciate the way they play with people's lives.
But I would never hold a claims agent responsible for the decisions they are forced to make on behalf of their insurance companies. They are held victims to the whims of the corporate paper pushers at the top just the same as the rest of us premium-paying policyholders are.
We have state farm also.
$572. for dwelling and items and the hurricane premium is $1229. Up from $100., 12 years ago; up from $900. last year.
(I do have separate accounts for my personal valuables; in a another policy).
annie, ours has never been separated like that but i expect it will be now...i used to have riders for jewelry but no more......
Karen - I was in meeting all afternoon yesterday but I did learn that you should have been assigned a claim number. And, for the fastest service you should call the 800 number or if possible, go to a mobile unit. They are authorized to issue checks on the spot, depending on your insurance policy and what it states in there.
If you can't get through on the 1-800-SF-Claim1 number ty 205-916-6671.
Once I hear more, I will let you know. If you want to give me your email address, I can email you with what I find out.
Karen - the correct number is 800-SF-Claim. Sorry about that.
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