Frogs1983
Full Member
Seems a little high, yeh. Depends on numerous factors. Where you live, age of home, 1 story or 2 story, age of roof, any upgrades, etc.... Travelers gives around 20% discount if you combine your Auto.
OT: homeowners insurance
- Thread starter Paul in uhh
- Start date
YA
Active Member
Sob! Well I cannot wait to see my travelers renewal in October
East Coast
Tier 1
I have a townhome in NJ (responsible for everything including roof, driveway, etc..) and that is almost exactly what my building coverage is (+personal property, personal liability etc...) and my Nov 22 - Oct 23 rate was under $800 for everything. Now I don't have flood from weather insurance, but I'm no where near a flood zone
I also just got my auto renewal quote - it's flat from last year (down $2 actually)
My sister in Florida dropped her homeowner's insurance and just has personal liablilty. The annual property insurance cost was approaching 10% of property value and with no mortgage they decided to just take the risk.
finafrog
Full Member
You guys made me feel a lot better. Just got my home renewal offer from Allstate, went up from $2,400 to $2,900 with 1% deductible (of dwelling). Can lower it to $2,300 with 1.5% deductible. Cars also went up by $100 total. Even fricking umbrella went up by $60 or so. It sucks, but at least I won't be wasting time on quotes from others, based on the info here. Special thanks to @Frogs1983.
NewFrogFan
Full Member
In my AA pilot forum there is a daily “Why I Am Leaving USAA” thread. We probably have 60-70% of 17000 pilots eligible. I can go on for days why I left in 2002 after 28 years. In 2014 when my father, their customer over 60 years, (they dont care how long anyone has been there) home of 40 years burned to the ground, he, at age 81 figured out why I left them in the decade before. In Texas, if you are a USAA customer, at least b4 this year, it paid to shop homeowners. The rate increases this year, I have one with Nationwide, are a beast unto themselves!
NewFrogFan
Full Member
Well, let me add on. My mom and dad had home burn down in 2014, next, a 1000 year flood in Denham Springs La in 2016 that gave birth to Cajun Navy. What they didn’t lose in fire, they lost in flood when the USAA storage units the “stuff” was in went 10 feet underwater. In 2018, my mom passes, I am the executor for my dad. I send death cert USAA. Her estate did not require a succession in La. Well over a year later, we got a letter from USAA “advising” us she had an IRA at USAA that had been transferred to whatever firm they sold off their investment company too. No beneficiary on IRA. My dad, well into dementia had no clue what she had at USAA that he put there. You would have thought that the death cert to USAA would have set wheels in motion over a year earlier. The company that had IRA, the one USAA chose to do that biz, had no idea my mom was gone. Needless to say, ANOTHER round of CEO desk phone calls were made.
YA
Active Member
Thats real tough.
I dated a girl in college from Denham Springs. Her parents were professors at LSU. That was a fun time and that girl was a wild child who could drink most men under the table.
NewFrogFan
Full Member
Sweat Equity
Tier 1
Yeah, that sucks. I am sry to hear - victims of the system.
Whn WaMu was acquired by J.P. M. back in the day, my parents mortgage was likewise moved over to the J.P. M. book. The problem: The (at least) two systems did not cooperate (shocker in M&A) and thousands of paper was "lost," my parents included. My parents would send in a check via certified mail each month and it was always returned (for six years). No communique from either institution until a foreclosure order was issued. The parents kept documentation, records, placed the funds in an account they would not spend from, hired attorneys, etc. and six years later, in response to the foreclosure order, J.P. M. sent a letter with "oops, our bad, found the paper - foreclosure lifted, pay the six years and late fees/penalties."
Parents probably spent hundreds of hours trying to tackle this, plus the headache of being in limbo for six years, only to be met with a "my bad" and "pay up and pay late fees/penalties."
YA
Active Member
Well it was in the ealry 1990's. He was the in the entomolgy department and she was in the clinical physiology department.
The Artist Formerly Known as PhormerPhrog
Full Member
Extremely high. Again, depends on several factors but that is an extremely high HOI for that amount of coverage.
The Artist Formerly Known as PhormerPhrog
Full Member
Just got notification mine went from 2390 to 3345. Not as bad as I was expecting but still a big hit.
frogs9497
Full Member
I work in both the domestic and international reinsurance markets. Carrier reinsurance costs are out of control. Carriers are reducing exposures to limit the impact of these higher costs by nonrenewing policies, declining new business, or simply exiting states/regions. And when carriers intentionally reduce business, premium revenue drops (duh). So, carriers are raising premiums to offset. Their goal is to maintain the same level of premium income with less exposure (fewer risks). The savvy ones (i.e. those with more sophisticated/talented actuarial and underwriting teams) are able to actually grow revenue, improve profitability and lower exposures simultaneously.
Carrier underwriting results on retained business have also been poor.. Texas, for example, has had a very active weather season this year, as CAT events have increased dramatically in both frequency and severity.
Carrier underwriting results on retained business have also been poor.. Texas, for example, has had a very active weather season this year, as CAT events have increased dramatically in both frequency and severity.
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