Home insurance rates increasing

[AngryOldWhiteGuy]

I'm in North Texas, near Dallas - I ended a long time business relationship with State Farm insurance about a year ago to buy a homeowners policy from a family member that was starting out with another one of the major insurance companies here - that business didn't work out for him, so now I'm going back to State Farm, and finding that their rates have increased almost 50% from what they were when I had the previous State Farm homeowners policy before I left ( a year or so ago).

The house's value is about $140,000 - the dollar value they came up with to rebuild my home has increased from what it was with the former policy by about 10%, so I'm questioning the agent about the 50% rise in the premium - we're gonna talk tomorrow.

No major upgrades or improvements with the house - all things with the house and the local area are pretty much the same as when I had the previous policy with State Farm - no natural disasters, no roof replacement, no flooding issues anywhere near me of any kind, no real changes in crime or zoning or anything like that - I have excellent credit, and my remaining mortgage is about 1\3 the value of the house - there's nothing at all that I can figure that'd cause such a jump - and I am pretty sure that the policy coverage specifics are pretty much the same.

Any thoughts why the big jump in my premium? Thanks!

[ChairMan]

"AngryOldWhiteGuy" wrote in message news:kgmkdp$5nl$ [e-mail]...

You don't say how much your paying, but I'm in the same area. Collin County Just got my renewal(Safeco) and its $789, 1% deductable, taxable value

155,000 insured full replacment for 207,000. Just got a quote from Farm Bureau and he was $1082

[harry]

Global warming = Worsening weather?

[Clark Kent]

Bingo!

[Norminn]

Lots of wildfires, high risk for more; gotta have more money to pay future claims.

[Dee Nile]

Global warming does not exist.

[Ken]

I believe it is due to "Hope and change."

[AngryOldWhiteGuy]

My quote was about $2,000 - similar numbers as yours - mine were a bit less, actually - I might need to shop around. THANKS!

[Robert]

There may be a reduction in your premium based on the length of time you have been with them, and other items such as autos that you have insured with them. When you cancelled and came back, perhaps those discounts did not apply any more. It would be useful to compare , line by line, with your old policy to see which items actually increased. I am with State Farm also, and am familiar somewhat with their way of writing a policy. I am about 100 miles south of Dallas, and my policy went up about $100, but I've been solidly with them for 30 years.

[Frank]

I'd blame Hurricane Sandy. Insurance companies spreading their loss. It effects all of us.

Global warming or not, people building in Mother Nature's pathways and suffering damage make it bad for the rest of us.

[Chuck]

I am in south Fl. I had State Farm for over 40 years for all my insurance needs. Last year I was cancelled. They didn't give me a valid reason to do so. My house passed their wind mitigation requirements and I had not had any claims. . I was then assigned to the State sponsored insurance company. My rates went to $ 3500 per year on a house valued at $25000. This year I was transferred to another company. New rates will be over $4000 a year. Welcome to Florida. Since I have no mortgage, I will be cutting back where I can. Chuck B.

[Up here in Canada]

I've been insured with State Farm for my car for about 25 years, and combined with my house insurance for about 15 years.

I pay about $1800 a year to insure two vehicles (car and pickup) each older than 10 years. We have a "no-fault" car insurance system here in Ontario. On a per-vehicle basis, the bill works out to $340 for bodily liability, $444 for accident benefits, $90 Direct compensation (property dammage), $74 Loss or Damage ($500/$1000 deductible). No drivers in the household under 25 years old. No accident claims for the past 20 years.

As part of a combined policy, we pay $440 per year for house insurance. Replacement value of house is about $200k (market value is about $300k). Deductible might be $5 or $10k. No mortgage insurance (house is fully paid for).

House insurance premiums has been flat for years - I think it's always been between $420 and $450 for the 15 years I've had it. Car insurance has gone down maybe $100 per vehicle over the past 3 years (might have something to do with some changes to our laws).

[dadiOH]

State Farm jacked up their rates a lot about a year ago. We left, had been with them 16 years, suggest you check around.

[dpb]

Why does this require leaving the major insuror rather than simply changing agents????

And, of course, if you are going to make a change, shop some. I was never very happy w/ State Farm even when had them years ago...

[harry]

So you don't think the weather is getting worse/more extreme? Where have you been living?

[Trevor James]

"AngryOldWhiteGuy" wrote in message news:kgmkdp$5nl$ [e-mail]...

It's called Free Enterprise, what's the problem?

[NotMe]

But worsening weather does ...

[krw]

It's been clear for some time that we don't live in your shithole universe, harry.

In the universe where the sky is blue. We know yours is too dim to tell.

[krw]

No, we know that worsening TV reporting does.

[Dee Nile]

Rush Limbaugh said so. It's just another lefty scare tactic.