Home Owners, Auto Insurance, and Related Stuff

[C-Man 27,184]

2 hours ago, Herbie Hancock said:

Homeowner’s increased by 91% with no claims ever made. Auto went up by 37% with no claims or citations in the last 7 years. Not directed to C-man, but fuck these insurance fucks. Buttfuck ‘em too

I get it. It's brutal as I've discussed in this thread. The truth of the matter is that the frequency of major weather-related insurance events has been on the rise for decades. Cost of materials has gone up substantially and there's a shortage of skilled labor in the housing market so costs have skyrocketed there as well. The reinsurance markets are perhaps the biggest issue right now. The US has sustained 377 weather and climate disasters since 1980 with overall damage/costs reaching or exceeding $1B/event. Total cost of those 377 events is north of $2.67 trillion. But these increases are not sustainable, not without a commensurate increase in wages, etc.

https://www.ncei.noaa.gov/access/billions/

[ROFL BOX 6,647]

3 hours ago, Herbie Hancock said:

Homeowner’s increased by 91% with no claims ever made. Auto went up by 37% with no claims or citations in the last 7 years.

What company for home, what company for auto?

[Skipper 6,127]

I've been with Liberty for all of my insurance for 15 years.  They are also fucking me across the board with 50%+ increases.  Currently have primary home, rental property, car and umbrella coverage with them.   Located in Dallas.  Has anyone had recent success shopping coverage with an insurance company that doesn't suck?  Liberty was "just ok" on home coverage when I had major damage in a 2019 storm.   They were fine on auto when car was totaled in same storm.  But certainly not married to them.

[ROFL BOX 6,647]

39 minutes ago, Skipper said:

I've been with Liberty for all of my insurance for 15 years.

1.  In the Liberty Bibberty commercials, they have the tag line of "Only pay for what you need" when in reality, ALL insurance is "Only get what you actually pay for."

i.e. "You aren't getting a new Cadillac for used Camry money."

2.  From the opinion of a restoration contractor & insurers we get the most hassles from, "Snake Farm" & "AllSnake" have those deserved reputations within our industry. 

3.  USAA (again, in my opinion) has gone from a "top 3  best" to "middle quality".  They have contracted most of their claims handling to "AllCat" & as a singular example, we are ONLY NOW completing a claim that got started from January '23 (freeze dropped trees onto a house out here in Drip).  We had a repeat onsite inspection with a field adjuster from AllCat & he walked around the property with both me & the insured for 90 minutes with him saying "Yes, I get that... OK, that makes sense... Sure, I can see this requirement..." & then when a re-issue of their estimate came out 2 weeks later (much longer than it should have required), he left off probably 1/2 of what he had prior agreed to on this physical re-inspection & when we were FINALLY done with the paperwork another 3 months later, a claim that initially started out as a ~$ 26,500 cost finished up at +$ 55,5000.

Again, ONLY GET WHAT YOU PAY FOR & don't expect every insurance estimate to be fully accurate.

[C-Man 27,184]

56 minutes ago, Skipper said:

I've been with Liberty for all of my insurance for 15 years.  They are also fucking me across the board with 50%+ increases.  Currently have primary home, rental property, car and umbrella coverage with them.   Located in Dallas.  Has anyone had recent success shopping coverage with an insurance company that doesn't suck?  Liberty was "just ok" on home coverage when I had major damage in a 2019 storm.   They were fine on auto when car was totaled in same storm.  But certainly not married to them.

What is the Dwelling/Coverage A for your home currently? We don't have many North Texas solutions for homes under $1M. I have a "middle market" expert in our Plano office, who might be able to help on under $1M properties. It's pretty much Safeco (owned by Liberty Mutual -- and 99 times out of a 100 more expensive than LM) or Travelers these days. At least for $1M+ (even more so on $2M+), we have potential solutions in the "high net worth" marketplace. The coverage and claims are substantially better so at least you're getting a better experience for your insurance dollar (it might be a few more up-front dollars but you'll get much, much more on a claim with these carriers than you would on middle market or direct writers).

 

2 minutes ago, ROFL BOX said:

1.  In the Liberty Bibberty commercials, they have the tag line of "Only pay for what you need" when in reality, ALL insurance is "Only get what you actually pay for."

i.e. "You aren't getting a new Cadillac for used Camry money."

2.  From the opinion of a restoration contractor & insurers we get the most hassles from, "Snake Farm" & "AllSnake" have those deserved reputations within our industry. 

3.  USAA (again, in my opinion) has gone from a "top 3  best" to "middle quality".  They have contracted most of their claims handling to "AllCat" & as a singular example, we are ONLY NOW completing a claim that got started from January '23 (freeze dropped trees onto a house out here in Drip).  We had a repeat onsite inspection with a field adjuster from AllCat & he walked around the property with both me & the insured for 90 minutes with him saying "Yes, I get that... OK, that makes sense... Sure, I can see this requirement..." & then when a re-issue of their estimate came out 2 weeks later (much longer than it should have required), he left off probably 1/2 of what he had prior agreed to on this physical re-inspection & when we were FINALLY done with the paperwork another 3 months later, a claim that initially started out as a ~$ 26,500 cost finished up at +$ 55,5000.

Again, ONLY GET WHAT YOU PAY FOR & don't expect every insurance estimate to be fully accurate.

Have heard the same stories about USAA. They're still priced extremely well for the most part, though, especially on the auto side.

[Skipper 6,127]

14 minutes ago, C-Man said:

What is the Dwelling/Coverage A for your home currently? We don't have many North Texas solutions for homes under $1M. I have a "middle market" expert in our Plano office, who might be able to help on under $1M properties. It's pretty much Safeco (owned by Liberty Mutual -- and 99 times out of a 100 more expensive than LM) or Travelers these days. At least for $1M+ (even more so on $2M+), we have potential solutions in the "high net worth" marketplace. The coverage and claims are substantially better so at least you're getting a better experience for your insurance dollar (it might be a few more up-front dollars but you'll get much, much more on a claim with these carriers than you would on middle market or direct writers).

 

$878K.  Although I somewhat question whether enough coverage with appreciation and current construction costs.  I think would sell in the $1.2MM to $1.3MM range.  Rental property coverage lower at 421.

Edited March 18 by Skipper

[C-Man 27,184]

1 minute ago, Skipper said:

$878K.  Although I somewhat question whether enough coverage with appreciation and current construction costs.  I think would sell in the $1.2MM to $1.3MM range.  Rental property coverage lower at 421.

Shoot me an address off-line and I can take a quick look. Cincinnati has a very nice new program that caters to mass affluent market. Min Cov A for eligibility is $1M in North Texas but honestly that isn't hard to get to these days. Probably not a less expensive program than Liberty Mutual but the coverage will be vastly superior across all lines.

[conVINCEd 21,469]

USAA has been slipping for more than a few years. I had to get out the pliers and blowtorches to get fair market value out of them for a total loss on my then fiancée’s car. Total flood loss where water was halfway up the door.  It happened at UP Elementary and you probably remember when it happened.  Teacher’s cars floating down Lovers.  Pretty simple claim.  They wanted to fix the car.  That was 8 years ago.  Sometimes things go downhill quickly, sometimes they take their time. USAA is doing a slow burn as opposed to a spectacular flameout.

[Chewbacca 7,766]

6 hours ago, C-Man said:

Shoot me an address off-line and I can take a quick look. Cincinnati has a very nice new program that caters to mass affluent market. Min Cov A for eligibility is $1M in North Texas but honestly that isn't hard to get to these days. Probably not a less expensive program than Liberty Mutual but the coverage will be vastly superior across all lines.

Are you licensed in CO?  What carriers do you work with?  

[Dbeasy 15,041]

8 hours ago, C-Man said:

I get it. It's brutal as I've discussed in this thread. The truth of the matter is that the frequency of major weather-related insurance events has been on the rise for decades. Cost of materials has gone up substantially and there's a shortage of skilled labor in the housing market so costs have skyrocketed there as well. The reinsurance markets are perhaps the biggest issue right now. The US has sustained 377 weather and climate disasters since 1980 with overall damage/costs reaching or exceeding $1B/event. Total cost of those 377 events is north of $2.67 trillion. But these increases are not sustainable, not without a commensurate increase in wages, etc.

https://www.ncei.noaa.gov/access/billions/

The other truth of the matter is that insurance company stocks are at all time highs. If the struggle for them was really that bad, their earnings and stock prices would be under a lot more pressure than they are. This industry is pulling some sort of pseudo price fixing under the guise of Covid inflation. 

[Sandman 3,403]

I'm in central OK and my homeowner's went up about 15%. The hail up here sucks so much (like many things here). I want to call around but I just switched last year or 18 months ago. I guess I'll hold out for now.

[C-Man 27,184]

5 hours ago, conVINCEd said:

USAA has been slipping for more than a few years. I had to get out the pliers and blowtorches to get fair market value out of them for a total loss on my then fiancée’s car. Total flood loss where water was halfway up the door.  It happened at UP Elementary and you probably remember when it happened.  Teacher’s cars floating down Lovers.  Pretty simple claim.  They wanted to fix the car.  That was 8 years ago.  Sometimes things go downhill quickly, sometimes they take their time. USAA is doing a slow burn as opposed to a spectacular flameout.

I think you can trace USAA’s decline to when it loosened eligibility requirements.

 

4 hours ago, Chewbacca said:

Are you licensed in CO?  What carriers do you work with?  

Yes, we’re licensed in all 50 states. Colorado can be tricky depending on where you are due to risk of wildfire. What is the dwelling value of your home?

 

4 hours ago, Dbeasy said:

The other truth of the matter is that insurance company stocks are at all time highs. If the struggle for them was really that bad, their earnings and stock prices would be under a lot more pressure than they are. This industry is pulling some sort of pseudo price fixing under the guise of Covid inflation. 

Chubb had a record year in 2023. It’s been raising rates at a slower rate than others — and was already the highest priced in most cases — but ‘23 was the first year it didn’t have a negative loss ratio in quite a few years.

[UTPhil2006 3,804]

22 hours ago, C-Man said:

I get it. It's brutal as I've discussed in this thread. The truth of the matter is that the frequency of major weather-related insurance events has been on the rise for decades. Cost of materials has gone up substantially and there's a shortage of skilled labor in the housing market so costs have skyrocketed there as well. The reinsurance markets are perhaps the biggest issue right now. The US has sustained 377 weather and climate disasters since 1980 with overall damage/costs reaching or exceeding $1B/event. Total cost of those 377 events is north of $2.67 trillion. But these increases are not sustainable, not without a commensurate increase in wages, etc.

https://www.ncei.noaa.gov/access/billions/

Herein lies the rub

[Larry T. Spider 1,746]

One of the recent hail storms cracked a couple of side windows on the house. Looking to pay for it out of pocket and not mess with insurance. Any recs on who would take on a small job like that at a fair price? I’m in western Round Rock, just east of Avery Ranch.

[deadshank 24,652]

1 hour ago, Larry T. Spider said:

One of the recent hail storms cracked a couple of side windows on the house. Looking to pay for it out of pocket and not mess with insurance. Any recs on who would take on a small job like that at a fair price? I’m in western Round Rock, just east of Avery Ranch.

You’re doing the right thing when compared to your deductible.
 

What type of window?  Single pane?  Double pane?  Wood? Aluminum?  Vinyl? Clad?  
 

Recent  replacement windows or old, original equipment?   Do you know who the manufacturer is?

That kind of information matters so you can contact the right people and not waste your valuable Surly screen time. 

[Larry T. Spider 1,746]

35 minutes ago, deadshank said:

You’re doing the right thing when compared to your deductible.
 

What type of window?  Single pane?  Double pane?  Wood? Aluminum?  Vinyl? Clad?  
 

Recent  replacement windows or old, original equipment?   Do you know who the manufacturer is?

That kind of information matters so you can contact the right people and not waste your valuable Surly screen time. 

Double pane, I assume aluminum. It’s ‘99 builder grade stuff. The locks have “GA” on them, which I assume is the manufacturer.

[deadshank 24,652]

1 hour ago, Larry T. Spider said:

Double pane, I assume aluminum. It’s ‘99 builder grade stuff. The locks have “GA” on them, which I assume is the manufacturer.

That is probably General Aluminum Windows.  Your prospects aren't good.  The series 1900 failed miserably and may have been part of a class action lawsuit. 

Good luck, Larry T.

[Larry T. Spider 1,746]

10 minutes ago, deadshank said:

That is probably General Aluminum Windows.  Your prospects aren't good.  The series 1900 failed miserably and may have been part of a class action lawsuit. 

Good luck, Larry T.

Ha, just my luck. Well, in that case, who would you call to have them looked at?

[deadshank 24,652]

12 minutes ago, Larry T. Spider said:

Ha, just my luck. Well, in that case, who would you call to have them looked at?

If you know anyone that is a home builder I would ask them who their window sales rep is and start their.  
 

I would not start with a window replacement company.   

[deadshank 24,652]

My Chubb property & casualty renewal went up $970 for the new policy year and indicative of a 14% increase.

Additionally, I'm saving $1,508.00 by pulling the full coverage auto w/ U&I motorist coverage from Chubb and going with Travelers.

Personal / declared articles and liability umbrella will stay with Chubb.

 

[blacklab 11,926]

i have USAA, had a 50% increase last year, and another 50% increase this year. Been with them over 10 years and have never made a claim.

[1978horn 892]

2 hours ago, blacklab said:

i have USAA, had a 50% increase last year, and another 50% increase this year. Been with them over 10 years and have never made a claim.

I have had USAA for 20yrs due to my wife.  Homeowners went from just under 2k two years ago to 5k this last yr.  Shopping around next year.

[blacklab 11,926]

Close to the same here, went from $1800, $2200, $3300, $4900. 

Shopped around but haven't found anything. Amica want's $11k/year, State farm and progressive wouldn't give me a quote on their website. 

[locodos 5,387]

1 minute ago, blacklab said:

Close to the same here, went from $1800, $2200, $3300, $4900. 

Shopped around but haven't found anything. Amica want's $11k/year, State farm and progressive wouldn't give me a quote on their website. 

This sucks, but be glad you can even get quotes.  In FLA, and especially in S Florida, you just take what they offer if you have the good fortune to have an existing policy.   I got my renewal notice and called my agent to see what other options were available.  She basically said that I should be thrilled that they even offered a renewal and that to the best of her knowledge no other insurers were writing new policies in the area (coastal S Florida).  In addition to massive rate hikes I also occasionally get demand letters from them telling me I must replace a water heater some random appliance, the entire electrical service to the house, water lines etc... and that these are also conditions for renewal.  It's annoying.

This year I spent hours calling major carriers, but the phone calls were short.  "We are not writing new policies in your area at this time..."

I used to be amazed that the insurance companies weren't writing  homeowner's policies, but the automotive divisions of those same companies were still giving competitive rates and robustly going after business in the same market.  $350K concrete structure? "too risky", $200K of vehicles that roll around and can get hit or stolen...  "fuck yeah! we'll bet any price!"

But alas, the automotive coverage, is heading to the moon now too.

 

[C-Man 27,184]

Friendly reminder to reach out to me via DM if you'd like to me to take a look for you. Be aware that we are not usually very much help on middle market opportunities ($600K and below). Chubb will write homes starting at $500K but they won't be competitive price-wise even though the coverage/claims are outstanding.

But the HNW carriers are looking to grow their books in the Austin/San Antonio markets and the minimum Coverage A/Dwelling requirements aren't quite as high as in North Texas or Houston. Basically, a home with a replacement cost of $750K and above and we can probably take a look. Above $1M and we're more likely to help. At $1.5M-$2M and we're starting to cook with gasoline (OK, probably a poor choice of words there).

If you're elsewhere in the country, parameters are roughly the same but can vary from state-to-state and locale-to-locale. Coastal anywhere is tough. California is brutal.

FYI, here are the current min home requirements with HNW carriers in DFW:

Chubb: $500K (must be $1M to go in their Preferred rating tier)

Cincinnati: $2M for HNW Capstone product ($1M for Executive Select, which is kind of a HNW lite product)

PURE: $3M

Berkley One: $5M as of this Thursday (up from $2M)

Private Client Select (formerly AIG): only writing Non-Admitted HO policies in Texas at this time

Vault: only writing Non-Admitted HO policies at this time (who knows if they are going to survive)

Nationwide Private Client: completely pulling out of the insurance game

Edited March 26 by C-Man

[T’Boo Ted Marshall 2,731]

Friendly reminder to reach out to me via DM if you'd like to me to take a look for you. Be aware that we are not usually very much help on middle market opportunities ($600K and below). Chubb will write homes starting at $500K but they won't be competitive price-wise even though the coverage/claims are outstanding.
But the HNW carriers are looking to grow their books in the Austin/San Antonio markets and the minimum Coverage A/Dwelling requirements aren't quite as high as in North Texas or Houston. Basically, a home with a replacement cost of $750K and above and we can probably take a look. Above $1M and we're more likely to help. At $1.5M-$2M and we're starting to cook with gasoline (OK, probably a poor choice of words there).
If you're elsewhere in the country, parameters are roughly the same but can vary from state-to-state and locale-to-locale. Coastal anywhere is tough. California is brutal.
FYI, here are the current min home requirements with HNW carriers in DFW:
Chubb: $500K (must be $1M to go in their Preferred rating tier)
Cincinnati: $2M for HNW Capstone product ($1M for Executive Select, which is kind of a HNW lite product)
PURE: $3M
Berkley One: $5M as of this Thursday (up from $2M)
Private Client Select (formerly AIG): only writing Non-Admitted HO policies in Texas at this time
Vault: only writing Non-Admitted HO policies at this time (who knows if they are going to survive)
Nationwide Private Client: completely pulling out of the insurance game

Nationwide? Really?

[C-Man 27,184]

6 minutes ago, T’Boo Ted Marshall said:

Nationwide? Really?

Nationwide Private Client is done-zo at the end of 2024 in Texas. Phase-out in other states before then, I think. I think regular Nationwide is still around but they pulled back pretty hard there too.

[ROFL BOX 6,647]

6 hours ago, C-Man said:

Non-Admitted HO policies

Please explain what this term means.

[C-Man 27,184]

3 hours ago, ROFL BOX said:

Please explain what this term means.

Homeowners policies are either "admitted" or "non-admitted". Admitted forms are policies that have forms and rates filed with the state's department of insurance. These must contain certain coverages and language no matter what that cannot be changed. This is regulated state-by-state. Non-admitted forms can be manuscripted and tweaked by carriers and underwriters WITHOUT filing them with the state for approval. They can also charge what they want.

Admitted forms are backed by the state's guaranteed fund, non-admitted forms are not. This fund promises to pay ALL claims in the event a certain carrier becomes insolvent for whatever reason. Let's pretend Hurricane Harvey 2 washes ashore this summer/fall and causes devastating damage long the Texas coastline. Let's pretend House #1 is insured by Chubb or State Farm or Farmers on an admitted form (Chubb has non-admitted policies for hard-to-place, high-risk properties). Let's pretend House #2 is insured by ROFLBOX & C-Man Insurance Company on a non-admitted basis. Let's pretend both houses are complete losses due to the storm. Say State Farm or Chubb or Farmers are over-saturated and all of a sudden go tits up before they can pay all (or any) claims. Boom, the state fund steps in and makes clients whole. (It will be a monumental PITA most likely, but you're not fucked in that situation). Now, say ROFLBOX & C-Man got way out over its skis and cannot meet claim demands for our clients. We're non-admitted so the state fund does not help our clients out. Hope you're one of the first in line to get paid.

That's an oversimplification but that's it in a nutshell. A lot of properties in California, Florida and Colorado are being written on a non-admitted basis. Texas is not that far behind in some areas. As a firm, we are not allowed to offer non-admitted solutions if there is an admitted solution (even if it's 10 times the cost of the NA policy -- this wouldn't be the case as NA is almost always more expensive).

[Herbie Hancock 7,343]

C-man, I need to make a claim on my roof but my policy renews April 9th. Will making the claim now adversely affect my renewal/rate? Should I wait until after it renews to make that claim?

[Guest]

22 hours ago, C-Man said:

Friendly reminder to reach out to me via DM if you'd like to me to take a look for you. Be aware that we are not usually very much help on middle market opportunities ($600K and below). Chubb will write homes starting at $500K but they won't be competitive price-wise even though the coverage/claims are outstanding.

But the HNW carriers are looking to grow their books in the Austin/San Antonio markets and the minimum Coverage A/Dwelling requirements aren't quite as high as in North Texas or Houston. Basically, a home with a replacement cost of $750K and above and we can probably take a look. Above $1M and we're more likely to help. At $1.5M-$2M and we're starting to cook with gasoline (OK, probably a poor choice of words there).

If you're elsewhere in the country, parameters are roughly the same but can vary from state-to-state and locale-to-locale. Coastal anywhere is tough. California is brutal.

FYI, here are the current min home requirements with HNW carriers in DFW:

Chubb: $500K (must be $1M to go in their Preferred rating tier)

Cincinnati: $2M for HNW Capstone product ($1M for Executive Select, which is kind of a HNW lite product)

PURE: $3M

Berkley One: $5M as of this Thursday (up from $2M)

Private Client Select (formerly AIG): only writing Non-Admitted HO policies in Texas at this time

Vault: only writing Non-Admitted HO policies at this time (who knows if they are going to survive)

Nationwide Private Client: completely pulling out of the insurance game

Out of curiosity, what's it cost to insure a $1M home in Austin? $2M? Does it scale in a linear way? 

My house is around 500K and we're paying about $1,600. Does $1M run around $3,200?

[C-Man 27,184]

13 minutes ago, FirstTimeCaller said:

Out of curiosity, what's it cost to insure a $1M home in Austin? $2M? Does it scale in a linear way? 

My house is around 500K and we're paying about $1,600. Does $1M run around $3,200?

Not necessarily. Everything is based off each individual's insurance score (claims history, credit score, if you pay on time, etc), the location of the risk, protection of the risk, prior loss history of the risk and so on. You and I can look at the exact same house and apply for insurance and get two wildly different quotes from the same carrier. Hell, you might get a different rate if you rate the policy with your spouse's name first in some cases.

Not to mention, some carriers offer premium breaks at certain coverage limits. For instance, it might actually be cheaper to insure a home for $1M with Chubb (using them as an example) as opposed to $950K. Shit like that.

[ROFL BOX 6,647]

11 hours ago, Herbie Hancock said:

C-man, I need to make a claim on my roof but my policy renews April 9th. Will making the claim now adversely affect my renewal/rate? Should I wait until after it renews to make that claim?

What's the date of loss?  (meaning, what day did the potentially covered peril happen?  Also, what's your zip code?

[ROFL BOX 6,647]

23 hours ago, C-Man said:

Let's pretend House #2 is insured by ROFLBOX & C-Man Insurance Company on a non-admitted basis.

Now, say ROFLBOX & C-Man got way out over its his skis and cannot meet claim demands for our my clients. We're I'm non-admitted so the state fund does not help our my clients out.

Whoa, pal... gotta leave me outta that one.

[HRSchenker 2,268]

On 3/27/2024 at 12:38 PM, FirstTimeCaller said:

Out of curiosity, what's it cost to insure a $1M home in Austin? $2M? Does it scale in a linear way? 

My house is around 500K and we're paying about $1,600. Does $1M run around $3,200?

I pay $2700 for my $380k property

[C-Man 27,184]

On 3/27/2024 at 11:54 AM, Herbie Hancock said:

C-man, I need to make a claim on my roof but my policy renews April 9th. Will making the claim now adversely affect my renewal/rate? Should I wait until after it renews to make that claim?

@Herbie Hancock, sorry I missed this question when you asked it. No, it won't matter. Not in this timeframe. Your renewal offer has already been sent out to you 45 days or so prior to renewal. The carrier cannot change it UNLESS there is something materially wrong with the risk in question. For instance, let's say they learn the house isn't where the policy says it is, or it's made of wood instead of the brick/stone that has been quoted, shit like that. You laugh but many direct writers just offer quotes based off what insureds tell them and ZERO due diligence is done. Oh, your house is made of Matchlight Charcoal, not the stone/brick that you told the Allstate agent? Oops, our bad.

It will, however, likely have some effect next year.

[bluto 4,912]

Got popped for homeowners policy hike of about 15% in dfw, figure that’s not even worth shopping considering how much lower this bid was than the comp during initial year. 
 

have sent my agent ~10 ppl who signed up for home/auto/life policies too so I have to think he knows he’s making money on me in other places. 

[Anastasis 23,458]

Hail claim incoming. LOL. 

Er, maybe claims. 

[ROFL BOX 6,647]

17 minutes ago, Anastasis said:

Hail claim incoming. LOL. 

Er, maybe claims. 

I will call you in the AM.

Shit has happened on my end.

[Anastasis 23,458]

Just now, ROFL BOX said:

I will call you in the AM.

Shit has happened on my end.

All good. The roofers are swarming the hood with ladders and markers right now. Throw a rock and you will knock one off a roof doing an inspection. 

[Okie State 3,804]

Rates are absurd in my neighborhood and from what I've been told it's just going to get worse. I don't see how any of this is sustainable.

[ROFL BOX 6,647]

On 4/4/2024 at 5:52 AM, Okie State said:

Rates are absurd in my neighborhood and from what I've been told it's just going to get worse. I don't see how any of this is sustainable.

What zip (or town)?

[Okie State 3,804]

46 minutes ago, ROFL BOX said:

What zip (or town)?

77450. Houston 'burbs. Lots of roof replacements lately and also all of what has already been said regarding weather risk and skyrocketing rebuild costs.

[Dish Boggett 67]

My personal liability umbrella policy has tripled in 3 years. Paid less than $1k for $3M coverage in 2020. Renewal for same coverage this year is $3400.  I am told there are only two carriers writing policies in Fl for personal liability umbrella. 
 

Are you seeing similar is Texas?

[ROFL BOX 6,647]

31 minutes ago, Dish Boggett said:

My personal liability umbrella policy has tripled in 3 years. Paid less than $1k for $3M coverage in 2020. Renewal for same coverage this year is $3400.  I am told there are only two carriers writing policies in Fl for personal liability umbrella. 
 

Are you seeing similar is Texas?

Where in Florida & what profession?

[Dish Boggett 67]

Vero Beach.  I am a small general contractor. 

[ROFL BOX 6,647]

8 hours ago, Dish Boggett said:

Vero Beach.  I am a small general contractor. 

I worked 2 hurricanes back ~19 years ago, the ones that tracked similarly from PSL.up past you (& I was a Broward resident for +25 years... only had Andrew to contend with).

[C-Man 27,184]

On 4/5/2024 at 4:27 PM, Dish Boggett said:

My personal liability umbrella policy has tripled in 3 years. Paid less than $1k for $3M coverage in 2020. Renewal for same coverage this year is $3400.  I am told there are only two carriers writing policies in Fl for personal liability umbrella. 
 

Are you seeing similar is Texas?

Umbrella isn't normally something there's an issue with unless the insured is especially risky due to notoriety, etc.

What carrier do you have for home and auto? $3400 for $3M seems excessive -- do you have a lot of underlying exposures (youthful drivers, boats, jet skis, large auto schedule)?

I don't quite understand what you mean by only two carriers writing umbrellas in Florida now. All our carriers would have umbrella policy offerings.

[Dish Boggett 67]

Homeowners is through Frontline; Auto is through travelers

1 teen driver, 1 boat

haven't made a claim on HO ever,  i had a minor fender bender about 2 years ago

Hudson Insurance group is the Umbrella policy

 

I don't; have any risky hobbies or behavior (aside from posting on this site)

 

 

[NeverMarryAStripper 21,872]

4 hours ago, Dish Boggett said:

I don't; have any risky hobbies or behavior (aside from posting on this site)

 

 

Im pretty sure that mental health issues will push your rate way up