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.
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.
I am surprised State Farm held on to you that long. They dumped most
of Coastal Florida customers a decade ago, along with the rest of the
big companies. Allstate rolled me into Royal Palm which became Tower
Hill. Far worse is being in the Citizens (government insurance) risk
I dropped wind and flood and I am about in line with the OP. ($1500)
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.
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).
On Sun, 3 Mar 2013 15:27:59 -0600, "Attila Iskander"
That's true long before 10 years, though things are changing, given
the prices of new cars and the sinking economy. Used cars are
becoming more valuable.
However, the point of any insurance is to cover what you can't afford
to lose. The car's age, or worth, isn't a direct factor (only to the
extend of whether you can afford...). Only a fool insures what he can
comfortably afford to lose (and that *may* be a 10-YO car).
Did you not read what I wrote?
Look at the fraction of my insurance premiums that actually cover damage
or loss of the vehicles, vs what I'm paying for bodily injury / accident
I'm paying pretty close to the minimum to actually cover loss/damage to
the car, and I think I have the highest deductible available.
Why does this require leaving the major insuror rather than simply
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...
A large increase in property damage due to tornados ,major storms, and
wild fires. All insurance companies are getting hit hard for the
damage claims nation wide and are raising rates on everyone whether
your neighborhood got hit or not. Car damage & payout for them in
these incidents is just as bad as the houses & businesses.
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