Homeowners Insurance rates up?

Yes south Florida is going through the roof. HO Insurance, Wind storm both. Double, triple even. Thanks to Wilma and Francis.

MC

Part of the reason for the increase (aside from claims and possible claims) is that the replacement cost of your home keeps going up.

If the value of your home has doubled in the past 5/10 years, it's not unreasonable for the cost of insurance to go up quite a bit even if it doesn't double.

Shop and confirm but I think you are inline with the rest of us.

I am seeing at least a 20% increase in most building materials here compared to a year ago.

Colbyt

Ours went up too, never a claim in over 15 years. It really irked me. Our auto insurance went up too. I just cannot figure out why ...

I DO know it irks me beyone breath.

I've been shopping some too. We are with Allstate, if you find an outfit that's more reasonable - holler!

Kate O|||||||O

Shop and confirm but I think you are inline with the rest of us.

I am seeing at least a 20% increase in most building materials here compared to a year ago.

Colbyt

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Cause? This is Effect, glad to meet ya. (g). | v

Neither. You should found a non-profit insurance company. When you've got it up and running, let me know.

--Goedjn

Oh, you should also drop everything except liability and medical.

Try buying insurance in Florida. It is typically about 4% of the insured value with a 5% deductible if it is a windstorm. Expect to pay about $4000 a year for fire, wind and flood per $100,000 of coverage and a $5000 deductible on windstorm, $1000 on the fire/theft. (that is my Allstate bill right now)

Also from my understanding the insurance, unlike my P&C insurance in the Hoosier, doesn't pay replacement, but rather some kind of depreciated costs? That alone could make a ton of difference.

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Cause? This is Effect, glad to meet ya. (g). | v

nicetameetcha too! LOL... kind of like when your mom would say "Because I said so!" and then look over glasses at you... man I hated that.

Kate O|||||||O

Wholly free-holeys!

Here in TN it's only about $1200 a year, that's roughly 25% of what you're paying. Sure glad I don't live in Florida after all!

Kate O|||||||O

Try buying insurance in Florida. It is typically about 4% of the insured value with a 5% deductible if it is a windstorm. Expect to pay about $4000 a year for fire, wind and flood per $100,000 of coverage and a $5000 deductible on windstorm, $1000 on the fire/theft. (that is my Allstate bill right now)

Ad well it should!!!!! Those living in areas prone to floods, hurricanes, tropical storms etc need to either move or step up and pay more. My HO insurance went up in NJ and I never made a claim and live in an area not prone to any damage. The foos who live in flood zones need to pay up. Why should those smart enough to live in areas not likely to suffer hurricanes etc pick up tab for their stupidity.

Hey! I don't have a problem with that. You live where there area lot of claims you pay more. That is fair.

Why should I pay for your lifestyle choices?

OK, I won't complain. Mine went from $650 to $800. That is with The Hartford. As for auto insurance, it went up quite a bit when I bought a new car a few months ago, but just went down with the renewal as the value of the cars also went down.

I never asked you to.