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Old 10-31-2023, 01:57 AM   #21
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We also have USAA and our homeowners policy went up 12% this year. We insure three other properties with them too. They send us a check in December and another in February, so weíre not switching. The December check was for $506. The last February check was for being a member for forty years and was $1,683. They vary year to year, but taking them into consideration makes my premiums seem cheaper.
I get refunds too, but not that big.

I will hit 40 years with USAA sometime in the next few years. Not sure if I qualify for the member account thing since I am a (former) military dependent and thus not "real" USAA. I should probably ask about that.
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Old 10-31-2023, 06:14 AM   #22
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Ours went up about 33%, which didn't surprise me, because there were many hail storms in our area this last summer. New roofs on thousands of houses.

Shopped around and got a policy that is about the same price as last year, but I acknowledge we may not be so lucky in the future.
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Old 10-31-2023, 07:40 AM   #23
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We have a 3,200 sqft Concrete home with a concrete tile roof, built in 2002, 1.5 miles from the beach in NE. Fla. Our home insurance went up $100 to $1,336 this year, Flood is $600.
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Old 11-01-2023, 01:01 PM   #24
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Hi all.

I think I've seen several threads here recently on large increases in homeowner's insurance policies.

I just got my renewal from USAA and they're increasing my rates by about 25%. I haven't had any recent changes to my policy that would have caused such an increase; I suspect it's just a market adjustment by USAA.

I've already reviewed my coverage with them recently and everything is accurate and my coverage levels and deductibles are what I want. I just want to pay less for it.

I'm obviously considering shopping around, but historically USAA has been unbeatable so I'm not optimistic.

What have others done to successfully combat this development? Are there ideas I'm not thinking about?

Thanks.
I contacted an insurance broker to get quotes on moving homeowners, vehicles and RV away from AMFAM. He was able to save a considerable amount, but the coverages were super weak. To get identical coverages the price was basically the same, so I stayed with AMFAM.
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Old 11-01-2023, 01:24 PM   #25
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I contacted an insurance broker to get quotes on moving homeowners, vehicles and RV away from AMFAM. He was able to save a considerable amount, but the coverages were super weak. To get identical coverages the price was basically the same, so I stayed with AMFAM.
Like any professional you might find, some are good and some are average and some are excellent. In my case I've had excellent results moving around and taking advantage of the current market. In one case I remember, the agent knew of a topnotch company who was entering our state market and pricing aggressively to build share. We took advantage of that as long as it lasted, then shopped the coverage again and moved to another solid company with lower prices.

Re "AMFAM" I assume you mean American Family, which I believe uses tied agents. I never use tied agents because they will take the company's side in any dispute where an independent agent isn't vulnerable like a tied agent is.
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Old 11-01-2023, 08:32 PM   #26
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I haven't had a chance to review it, but mine decreased...$3,050 vs. $3,246 last year! That said, it increased approximately 30% a couple of years ago due to the wildfires in our state. And the deductible is $11K. Our personal property amount is ridiculously high and that will be reduced.
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Old 11-02-2023, 08:11 AM   #27
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Hi all.

I think I've seen several threads here recently on large increases in homeowner's insurance policies.

I just got my renewal from USAA and they're increasing my rates by about 25%. I haven't had any recent changes to my policy that would have caused such an increase; I suspect it's just a market adjustment by USAA.

I've already reviewed my coverage with them recently and everything is accurate and my coverage levels and deductibles are what I want. I just want to pay less for it.

I'm obviously considering shopping around, but historically USAA has been unbeatable so I'm not optimistic.

What have others done to successfully combat this development? Are there ideas I'm not thinking about?

Thanks.
Funny....I live in Florida and my wife and I are both retired military. I have shopped around and have found USAA to be one of the highest. One thing I will give them koodos for is that they WOULD insure my home if I wanted them to unlike so many other insurance companies that say "NO" right off the bat as soon as you tell them you want to insure your home in Florida! I have used a couple independent brokers and have had limited success. I have been with my current company for about 4 years now and although I'd like to pay less, I am really happy that I actually have homeowner's insurance. On a weekly basis I hear from neighbors, co-workers, and friends that live in Florida who tell me their policies have been cancelled!

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Old 11-02-2023, 10:58 AM   #28
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I moved into my brand new (built this summer) 1,497 sq. ft. house in September. I got home insurance quoted from several companies and USAA was one of the highest. I am an Air Force veteran too.

I am roughly 60 miles from the Gulf, north of Houston. My final price was $980/yr with the usual deductibles.
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Old 11-03-2023, 05:50 AM   #29
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I moved into my brand new (built this summer) 1,497 sq. ft. house in September. I got home insurance quoted from several companies and USAA was one of the highest. I am an Air Force veteran too.

I am roughly 60 miles from the Gulf, north of Houston. My final price was $980/yr with the usual deductibles.
I'm currently paying 3X that and USAA was even higher.

Like I said though....I'm happy to have insurance.

Mike
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Old 11-03-2023, 09:31 PM   #30
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These home insurance threads have scared me quite a bit so I was very anxious to see our updated policy premium when it arrived earlier this month.

Not scary for us at all... HCOL area in the northeast w/ ~$800K house built in the late 1800's... $706 last year and now $726 this year. Auto (2 cars - 2015 BMW and 2021 Honda) went from $1,655 to $1,727.

We have NJM so maybe the "No Jingles or Mascots" tagline is actually saving us some $$ as they don't have all the fancy commercials that I love.
Where are tou located? I have similar car insurance but my home is like tripple yours in nj. Not in a flood zone, etc, same insurance compony. Do you have replacement value on the home or just insurance?
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Old 11-05-2023, 03:03 PM   #31
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If you folks think you got it bad, check out flood insurance in my state of Florida.
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Old 11-07-2023, 04:41 PM   #32
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Interesting. I had USAA quote a HO policy in FL. Compared to State Farm. The quote was nearly 1K more than SF policy. Very high deductible. My current policy has a minimal flat deductible including hurricane damage. USAA would also not recognize the hurricane damage mitigation for a discount.

They really arenít the company they were in the 70s.
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Old 11-07-2023, 04:54 PM   #33
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Homeowners Insurance

Rate increases need to be approved by each state's SCC. They need claim data to prove why it's needed. It can't be arbitrary. Of course there could be mistakes, etc, and I guess a class action lawsuit could be looked it. But, where I live, the house values, in my area are astronomical. Therefore, of course, the insurance premiums will need to go up, as will Real Estate taxes, too. You can thank your neighbors who have sold, at huge prices, for increasing your assessed value. If your value has not gone way up, and there is no claims data to show a reason for an increase to each homeowner, then you've got a case.
I have State Farm, and when I got a USAA quote, it quoted the exact same premium.
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Old 11-07-2023, 04:58 PM   #34
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Interesting. I had USAA quote a HO policy in FL. Compared to State Farm. The quote was nearly 1K more than SF policy. Very high deductible. My current policy has a minimal flat deductible including hurricane damage. USAA would also not recognize the hurricane damage mitigation for a discount.

They really arenít the company they were in the 70s.
Be thankful they even insured you in Florida. A lot of people are insured by companies you've never heard of.
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Old 11-07-2023, 05:03 PM   #35
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It pays to change providers every 6-7 years.
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Old 11-07-2023, 05:06 PM   #36
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I just checked with DW, who pays our annual premiums. She says that our premiums for homeowner, auto, & rental property have not gone up by a single penny, for the past 3 years. Honolulu is consistently rated as #2 or #3 for COL, so I'm not sure why our premiums have stayed flat. She pointed out that four years ago, all policies got bumped upwards by about 3%, but she says that's the first increase in a decade. I glanced at her detailed spreadsheet, & she's correct.

Of course, I've been a USAA member since 1970, so that may have something to do with it. I haven't run their coverage tool for a few years, so I'll be doing that today. I definitely don't want to be underinsured! We have what might be the only red brick home on the island, & I have no idea how that could be rebuilt. I also haven't thought about what we're paying for contents, so I'll check if the break-out is granular enough to be changed.
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Old 11-07-2023, 05:19 PM   #37
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Be thankful they even insured you in Florida. A lot of people are insured by companies you've never heard of.
My parents live(d) in VaBeach, Virginia. 2 blocks from the ocean. StateFarm had been their insurer for decades, but then they dropped them. As they lived too close to ocean, for StateFarm. So Dad called USAA, and they insured them and were wonderful. I loved USAA. I also have StateFarm, also in Virginia, but not at ocean, so I excitedly called USAA (as their customer service was so wonderful, too, as I dealt with them for my Dad), and as I said in a prior post, I was quoted the same premium price as StateFarm. This was 2 years ago. Things do change. But in my dealings with USAA (for my parents) I was also so impressed with their customer service.
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Old 11-07-2023, 07:07 PM   #38
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I use USAA. My home and 2 auto Increased aprox 20% Texas. I have made a couple of claims for hail and fire and USAA has been a painless process. I see some value in knowing what you get when you have to use it..
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Old 11-07-2023, 07:13 PM   #39
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1) Get mad. Complain here. This didn't help.

2) Call company and reduce my "Contents and Possessions" number. This helped a lot.

In my state, the default practice is to value your possessions on the value of the house. Since all we have is a bunch of crap in the house, there's no way it has tripled in value since 2008 like they estimate. I reduced it to a still generous number not based on percentage, which is allowed. This made a significant difference.
We always have to reduce Contents and Possessions. Also, checking your deductible to determine the sensitivity of the premium to the deductible is always good to do. Our deductible was lower when we weren't paying as much and increasing it didn't materially change the premium. Last renewal, I increased the deductible to $5,000 because it made a material difference in the premium. I wouldn't make a claim under $5,000 so I just raised it to my pain tolerance level because it dropped the premium by more than just a few dollars.

Also, the OP might want to ask USAA to shop their policy with USAA's other providers. We have USAA as our 'agent' and our insurance is with Tower Hill. I had USAA quote their price at my last renewal but they would have been at least $1,000 more, IIRC. I am paying about $2,000 for $460,000 in coverage in Central Florida.
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Old 11-07-2023, 07:16 PM   #40
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I use USAA. My home and 2 auto Increased aprox 20% Texas. I have made a couple of claims for hail and fire and USAA has been a painless process. I see some value in knowing what you get when you have to use it..
The auto policy increases have been painful! No tickets or accidents and I believe our auto policy is up 40% in the last 3-4 years with some coverages deleted. We are required to keep high limits because we have an umbrella policy. Seriously considering downsizing to one car.
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