Another Crazy Homeowners Insurance Premium Situation (resolved)

I was with Liberty Mutual for many years too. I asked them do new customers get a better rate than loyal existing customers? The answer was yes, but there is more.
I then asked them that if I dump them for a year and then come back, will I be considered a new customer and thus get a better rate? The answer was also yes.
Nothing more I need to know.
I have long suspected that loyalty to an insurer is penalized, not rewarded. I get the new customer discount incentive but it’s as if their formula assumes if you’ve been with them for a long time with no claims, you are “due” for a claim. Do they think the odds change on the 10th flip of a coin if the first nine flips were tails?
 
Just got our homeowners renewal. Up 32% from last year. But we got renewed. Dune insurers are pulling out of parts of California due to fire risk. Our area has a lot of open space canyons, which increases fire risk. To counteract that we have fire hardened our home . Hardy board siding, wrapping metal around eaves, so no exposed wood, landscape removed from next to the house.


NYT podcast The Daily had a story yesterday about how climate change is now being priced into homeowners insurance. Apparently most insurance companies list money over the last 2-3 years.
 
I just received my homeowner’s insurance policy and it hasn’t gone up at all. My car insurance with geigo has been going up 20-30% a year and is due in July. I have shopped around and no one is cheaper. Nevada has 75% of the population living in and around Vegas with more accidents, thefts, dui’s, etc which makes us the second most expensive state in the country. Ugh!
 
I just received my homeowner’s insurance policy and it hasn’t gone up at all. My car insurance with geigo has been going up 20-30% a year and is due in July. I have shopped around and no one is cheaper. Nevada has 75% of the population living in and around Vegas with more accidents, thefts, dui’s, etc which makes us the second most expensive state in the country. Ugh!
No change? That's a shocker. Mine has changed every year over the last 22 years with my company, and it has more than doubled in the last 3 years. Never made a claim. Did you review the coverage? Sometimes they change it so that your coverage is not as good. While my homeowner's insurance policy just went up 31% from a year ago, they also doubled my wind & hail deductible. So, it was a double whammy.

My car insurance went up 22% IIRC, and I live in low population density area with no changes, no tickets, no claims.
 
No change? That's a shocker. Mine has changed every year over the last 22 years with my company, and it has more than doubled in the last 3 years. Never made a claim. Did you review the coverage? Sometimes they change it so that your coverage is not as good. While my homeowner's insurance policy just went up 31% from a year ago, they also doubled my wind & hail deductible. So, it was a double whammy.

My car insurance went up 22% IIRC, and I live in low population density area with no changes, no tickets, no claims.
Yes I looked at the coverage and it’s the same. My car insurance is 1200/year for a 16 year old car that I only drive 2700/miles per year. No tickets or accidents.
 
My State Farm Homeowner's bill was just received. I was quite disappointed seeing a 23% increase from last year. It is still less than 1/2 of the area's average policy cost so I just bit a bullet and paid it. I still hate myself a little bit when I do that.
 
We are in Los Angeles county. My homeowner's insurance is with Liberty Mutual through Geico. They raised 8.6% last year. This year, they kept the same premium. Geico kept my auto insurance premium the same as well. I feel like I dodged a bullet for now.
 
LMs rates went up 2021 here and they were already high so when they spiked even further we switched to State Farm. Was able to double my umbrella, 2 cars, and house for the same price LM was just quoting on house. I figured they didn't want to do business in our state any longer.
 
... just asking for opinions on which one you would go with.
I am a true believer in independent agents. I think we are with Acuity this year through our independent agent. Don't know anything about Cincinnati.

American Family and State Farm are sold by tied agents. Where an independent agent's loyalty is to his customer, a tied agent's loyalty has to be to his employer if they want to keep their job. Yes, technically tied agents are not employees but that is a distinction without a difference. The independent agent can take his customers' business somewhere else where the tied agent can't. The companies know that and it gives the independent agents clout that the tied agents don't have. (Principal–agent problem - Wikipedia)
 
Yes Insurance is a joke here in Louisiana they have no problems taking our premiums for years and as soon as they have to pay out they cry wolf. Then they jack everyone's rates up not just homeowners, vehicles and anything that needs insurance thru the roof to pay for all their claims. But they still have those big arse glass palaces to live out of so you know whose footing the costs us the consumer.
 
Just got my car insurance renewal from Geigo and it’s up another 20 percent. I can’t imagine what it would cost to insure a new car.
 
Just got my car insurance renewal from Geigo and it’s up another 20 percent. I can’t imagine what it would cost to insure a new car.
We are in Phoenix and just paid slightly over 1,200 for 1 year for two drivers for our 2023 Bolt EUV. Its bundled with our home insurance, both with Progressive. We had Progressive for many years with zero claims but their rates went up a lot two years ago. We contacted a broker who found us better rate last year. This year her better rate was thru Progressive.
 
The "people" should never have experienced this problem. I hope I didn't suggest that they were responsible as such.

Oahu is less prone to wild fires, though they happen. Our Condo strips the hills on our property of dead brush and grasses to help prevent fires. Most home owners would do the same. On Maui, lots of brush was left in areas that the "people" had no control over. I'm not certain who would be responsible for that, but "someone" failed to address the issue. Also, there is suggestion that HECO failed to turn off power at the appropriate times (I don't think that's been proven/disproven.)

Of course, you could sue someone or some company and bankrupt them, but realistically, no one can cover those losses - except "US" (as in all of us who pay insurance premiums in the Islands.) YMMV
There is plenty of blame to go around but HECO is really getting off easy. They should be held accountable and forced into bankruptcy so the investors pay before the ratepayers! This is yet another example of rampant corruption in Hawaii.

That said, my insurance did NOT go up so I am thankful for that.
 
I just got quotes from 4 different companies for the next year. they range from 3260. to 3684. so price is comparable for all of them. my question is if you had to make the choice of one of the four ( state farm, american family, cincinnati, or acuity) which one would you go with? do not really trust the insurance companies, I can't really get a clear answer after checking reviews. just asking for opinions on which one you would go with.
All insurance companies are good at collecting premiums. You should choose the one best at paying claims. I can only speak to State Farm. I have been with them for 40+ years with multiple claims and they have always been very good at paying out quickly and for far more than I expected.
 
There is plenty of blame to go around but HECO is really getting off easy. They should be held accountable and forced into bankruptcy so the investors pay before the ratepayers! This is yet another example of rampant corruption in Hawaii.
Heh, heh, welcome to my world. (If you lived on Oahu, you could help me pay for the RAIL.)
 
So, I received my renewal notice from Progressive for my homeowners insurance and it is a 105% increase ! We have been with them since 2018 when we bought the house, no claims , no problems. I contacted the insurance broker and was told these increases have been approved by the State of CT and that many companies are looking to shed business. So I guess that means drive us away with crazy increases.
My broker then contacted me again as she is shopping for rates and her underwriter wanted an explanation for a claim we placed 3 years ago on a different home in a different state that was for water damages. That was with Allstate and they never paid a dime and we put on a new roof and repaired interior damage. She then tells me that filing that claim counts against me obtaining the best rates in my present home. This is amazing: A different company, in a different state, a different house and no payment received results in me having a strike against me as I try to insure my home in CT. Talk about unfair policies! Crazy. Applying a correlation to geographically non correlated assets makes no sense to me.
 
Yep... insurance companies share their info... and any claim means that you are willing to actually MAKE a claim...

Try this one... I had an Acura TL that I loved but ran into the back of a truck... the insurance totaled it... I wanted to keep it but the cost to me was too much, so insurance paid me and it was not their car...

Five years later I get an email from my insurance company that a claim was made ON THAT CAR... it seems someone bought it at auction, fixed it up and sold it... but nobody after me decided to register the car with the state... so when it was involved in an accident they looked it up and I was the last listed owner!!!

Man was I pissed at the insurance company... the guy I talked to looked at their records and said he would take care of it... and make sure that it was not listed in the shared database as a claim against me... for some reason it stayed at my insurance company but he assured me it was to keep track of it..
 
Yep... insurance companies share their info... and any claim means that you are willing to actually MAKE a claim...

Try this one... I had an Acura TL that I loved but ran into the back of a truck... the insurance totaled it... I wanted to keep it but the cost to me was too much, so insurance paid me and it was not their car...

Five years later I get an email from my insurance company that a claim was made ON THAT CAR... it seems someone bought it at auction, fixed it up and sold it... but nobody after me decided to register the car with the state... so when it was involved in an accident they looked it up and I was the last listed owner!!!

Man was I pissed at the insurance company... the guy I talked to looked at their records and said he would take care of it... and make sure that it was not listed in the shared database as a claim against me... for some reason it stayed at my insurance company but he assured me it was to keep track of it..
At least the insurance company didn't try to charge you premiums all that time.
 
Yep... insurance companies share their info... and any claim means that you are willing to actually MAKE a claim...

Try this one... I had an Acura TL that I loved but ran into the back of a truck... the insurance totaled it... I wanted to keep it but the cost to me was too much, so insurance paid me and it was not their car...

Five years later I get an email from my insurance company that a claim was made ON THAT CAR... it seems someone bought it at auction, fixed it up and sold it... but nobody after me decided to register the car with the state... so when it was involved in an accident they looked it up and I was the last listed owner!!!

Man was I pissed at the insurance company... the guy I talked to looked at their records and said he would take care of it... and make sure that it was not listed in the shared database as a claim against me... for some reason it stayed at my insurance company but he assured me it was to keep track of it..
This is, uh, disturbing! That's the last thing I'd expect. In my state, it also means that the vehicle was never listed as "salvage."

Troubling.

I haven't sold privately yet, but if I do, I'm going to insist on going to the DMV to transfer title. Title Jumping is a real problem. It can expose you to all kinds of problems. All kinds of whackos want to title jump/skip and resell your car. In most states, this is illegal.

In your case, the insurance company's indolence amounted to title jumping for you. That's terrible, and frankly you need to put a full court press on them to prove that this has been resolved in your favor. Give them a call again and make a point and get something in writing that this mixup was handled and has no impact on you.
 
This is, uh, disturbing! That's the last thing I'd expect. In my state, it also means that the vehicle was never listed as "salvage."

Troubling.

I haven't sold privately yet, but if I do, I'm going to insist on going to the DMV to transfer title. Title Jumping is a real problem. It can expose you to all kinds of problems. All kinds of whackos want to title jump/skip and resell your car. In most states, this is illegal.

In your case, the insurance company's indolence amounted to title jumping for you. That's terrible, and frankly you need to put a full court press on them to prove that this has been resolved in your favor. Give them a call again and make a point and get something in writing that this mixup was handled and has no impact on you.
Yea.. not sure what or how this happened...

As for selling a car... at least here in Texas you can file a form saying you sold the car and not be responsible for it going forward... I found this out when I had sold a car an a year or year and a half later the buyer asked me if I could get him another title as he lost it... called the state and they told me about that form when I asked for a replacement title... it costs a few bucks but saves time in going to DMV....

BTW, I do not sell cars to individuals anymore... not worth the hassle... go to Car Max or similar... I loss a few bucks but it is quick and easy...
 
Absolutely shop around. I started shopping on house I just bought and was floored by the $4000-5000 quotes I was getting. Finally found GEICO for about $2400. Whew
 
Yea.. not sure what or how this happened...

As for selling a car... at least here in Texas you can file a form saying you sold the car and not be responsible for it going forward... I found this out when I had sold a car an a year or year and a half later the buyer asked me if I could get him another title as he lost it... called the state and they told me about that form when I asked for a replacement title... it costs a few bucks but saves time in going to DMV....

BTW, I do not sell cars to individuals anymore... not worth the hassle... go to Car Max or similar... I loss a few bucks but it is quick and easy...
Yes, our state too has a form which one can send in more or less washing one's hands of a given car - even if it's just given away. Of course, when that is done, I call the insurance company and take the car off their books too.
 
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