Home Owners, Auto Insurance, and Related Stuff

[HRSchenker 2268]

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?

Damn I pay $200 for $1M coverage. 

[C-Man 27188]

22 hours ago, Dish Boggett said:

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)

 

 

Shoot me a PM and I'll give you my email address where you can send current decs. I don't know why Travelers wouldn't offer an umbrella policy.

[Dish Boggett 67]

On 4/10/2024 at 12:34 PM, C-Man said:

Shoot me a PM and I'll give you my email address where you can send current decs. I don't know why Travelers wouldn't offer an umbrella policy.

Done- you are a gentlemen for looking into this for me . I appreciate the effort, Thank you

 

[cabowabo 4484]

It's my favorite time of year again.  Got my 6 month car insurance renewal from Progressive and it's gone up to $3,479 from $2,595 for six months.  This is with 4 cars and me, the wife, and 19 year old son on the policy.  2017 Hyundai Ioniq (liability only), 2018 Volvo XC90 (full coverage), 2022 Nissan Rogue (full coverage) and 2023 Tesla Model 3 Performance (full coverage).  This includes all the fabulous discounts I get including bundling my home insurance.  So, $7,000 per year for fucking car insurance.  Just got a quote from Geico and it was $4,300 or so for 6 months.  Any other companies I should look at before I lube up my butthole? 

[Dish Boggett 67]

I was with Gieco until about 2 years ago, then Traveler's came in cheaper. I would check with them.

 

 

[UTPhil2006 3805]

1 hour ago, cabowabo said:

It's my favorite time of year again.  Got my 6 month car insurance renewal from Progressive and it's gone up to $3,479 from $2,595 for six months.  This is with 4 cars and me, the wife, and 19 year old son on the policy.  2017 Hyundai Ioniq (liability only), 2018 Volvo XC90 (full coverage), 2022 Nissan Rogue (full coverage) and 2023 Tesla Model 3 Performance (full coverage).  This includes all the fabulous discounts I get including bundling my home insurance.  So, $7,000 per year for fucking car insurance.  Just got a quote from Geico and it was $4,300 or so for 6 months.  Any other companies I should look at before I lube up my butthole? 

I always defer to @C-Man and if he can’t he’s good about pointing you in the right direction 

[C-Man 27188]

2 hours ago, cabowabo said:

It's my favorite time of year again.  Got my 6 month car insurance renewal from Progressive and it's gone up to $3,479 from $2,595 for six months.  This is with 4 cars and me, the wife, and 19 year old son on the policy.  2017 Hyundai Ioniq (liability only), 2018 Volvo XC90 (full coverage), 2022 Nissan Rogue (full coverage) and 2023 Tesla Model 3 Performance (full coverage).  This includes all the fabulous discounts I get including bundling my home insurance.  So, $7,000 per year for fucking car insurance.  Just got a quote from Geico and it was $4,300 or so for 6 months.  Any other companies I should look at before I lube up my butthole? 

Happy to take a look. Our hands are really tied at the moment with regard to markets. Have we gone through this song-and-dance already? I've kicked the tires with so many Surlyites, it's hard to remember if we've already tried before. If not, shoot me a PM and I'll give you my email address so you can send me renewal auto dec pages for Progressive. Do you have claims? Also, let me know how big the house is as that might open a few other doors for us.

On a happier note, based on a few back-and-forth EM's with @Dish Boggett above, I was able to help him positively resolve his umbrella situation.

[ROFL BOX 6647]

I sent your info to folks who are buying a $ 1mil house in Reunion Ranch (far SW Austin).

 

Inspected the roof today & found some issues with things like the synthetic deck & backed out screws for the railing, no drip edge (2"×2" metal is code)gutters need adjusting (ponding water), fascia paint is suffering... but no actual widespread roof damage.

[Dish Boggett 67]

On 4/29/2024 at 5:43 PM, C-Man said:

Happy to take a look. Our hands are really tied at the moment with regard to markets. Have we gone through this song-and-dance already? I've kicked the tires with so many Surlyites, it's hard to remember if we've already tried before. If not, shoot me a PM and I'll give you my email address so you can send me renewal auto dec pages for Progressive. Do you have claims? Also, let me know how big the house is as that might open a few other doors for us.

On a happier note, based on a few back-and-forth EM's with @Dish Boggett above, I was able to help him positively resolve his umbrella situation.

I will vouch for  C-Man.  He saved me $2k on an umbrella coverage.  
 

 

[Daichee Bell 2925]

I have a multi- family property in Waco. The provider already had the policy before we bought the place, so were familiar with the property. They just canceled me because I would not / could not terminate half of the leases because  the tenants are Greek.  My quotes are now double.

 

I think insurance carriers are going back to fire protection only.

Edited May 3 by Daichee Bell

[T’Boo Ted Marshall 2732]

Was that in writing somewhere?

[conVINCEd 21469]

38 minutes ago, Daichee Bell said:

I have a multi- family property in Waco. The provider already had the policy before we bought the place, so were familiar with the property. They just canceled me because I would not / could not terminate half of the leases because  the tenants are Greek.  My quotes are now double.

 

I think insurance carriers are going back to fire protection only.

Greek as in frat/sorority or nationality?

[UTPhil2006 3805]

1 hour ago, conVINCEd said:

Greek as in frat/sorority or nationality?

Very important question 

[conVINCEd 21469]

15 minutes ago, UTPhil2006 said:

Very important question 

Fraternities are uninsurable.  I don’t know how they currently do it, but they use to all band together and basically self insure.  I can recall a fraternity back in the day who basically rented every apartment in a small complex in west campus.  It was their de facto fraternity house.  As someone with an insurance background, that would make an underwriter say no thank you, we will take on other risks.

[ROFL BOX 6647]

Riddle me this...

How can insurers view an insured as a liability but not the property?

 

Hail claim?  Well... what about historical records about storm prone areas such as Dallas.  Cidtomer X lives in the Metroplex for 25 years & 3× is approved for roof replacements due to baseball sized (of larger) hail.

 

Mr. X moves to coastal Oregon... cannot get coverage based upon prior 3 approved claims (unavoidable due to excessively large hits).

 

That simply does not seem proper.

[conVINCEd 21469]

6 minutes ago, ROFL BOX said:

Riddle me this...

How can insurers view an insured as a liability but not the property?

 

Hail claim?  Well... what about historical records about storm prone areas such as Dallas.  Cidtomer X lives in the Metroplex for 25 years & 3× is approved for roof replacements due to baseball sized (of larger) hail.

 

Mr. X moves to coastal Oregon... cannot get coverage based upon prior 3 approved claims (unavoidable due to excessively large hits).

 

That simply does not seem proper.

The answer to your question is that there is a certain subset of insurance customers that view their insurance policies as an investment, and they try to maximize their return.  Insurance companies try to weed those people out.  Multiple claims in a short time period is a leading indicator.  I’m not going to defend it, but that is how the math is done.  Do some innocent policyholders get caught up in that process? Sure.    I’ve seen enough insurance fraud in my time to know with relative certainty that insurers exercising caution in what they chose to underwrite is a reasonable approach.  I investigate insurance fraud for a living, to be completely upfront about why I have a little knowledge about this. 

[Daichee Bell 2925]

8 hours ago, conVINCEd said:

Fraternities are uninsurable.  I don’t know how they currently do it, but they use to all band together and basically self insure.  I can recall a fraternity back in the day who basically rented every apartment in a small complex in west campus.  It was their de facto fraternity house.  As someone with an insurance background, that would make an underwriter say no thank you, we will take on other risks.

Totally understand that. We’re not leasing to a fraternity or sorority though. They just all happened to be Greek. It gets passed down within their group so. So no vacancies. Originally, the company said it was student housing, which it’s not. Then they said we’re leasing to the entity, which  we aren’t. All individual leases with personal guarantees. No claims ever. Prohibitions against parties and everything else. Property was inspected, and all leases were provided during underwriting. Company has held the policy for at least 2 years. 
 

[Daichee Bell 2925]

9 hours ago, conVINCEd said:

Greek as in frat/sorority or nationality?

Fraternity/Sorority. Kicking out Greek nationals would have made them falafel. 

[Jerry Callo 8698]

Just checked my HO renewal - up over 60% from last year.  Fuck me.

[ChickenSandwich 9827]

Answered 

Edited May 16 by ChickenSandwich

[Jerry Callo 8698]

Anyone have experience with Reciprocal Insurance Exchanges, specifically Surechoice Underwriters Reciprocal Exchange offered through Sagesure?

[C-Man 27188]

1 hour ago, Jerry Callo said:

Anyone have experience with Reciprocal Insurance Exchanges, specifically Surechoice Underwriters Reciprocal Exchange offered through Sagesure?

Not familiar with that one but USAA is a reciprocal exchange. So is PURE, which we use a TON in the Private Client/HNW space.

[ROFL BOX 6647]

[Copy / Pasta from a thread I started in a roof group on the Book 'o Faces]

 . . . . . . . . . . . .

☆hail pics attached, my own photos from what landed @ this property☆

IMO, this is Typical AllSnake shenanigans.  Paid for 158 shingles.  

Hail was 4½" to 5" dia.  & I know this for fact because I was @ this house when the hits came down.

My house is ~¾ mile away (direct distance / straight line) & my place - including metal roofed structures - was totaled for 6 year old Dimensionals & metal (Snap Locks).  My daughter called as the hits were thumping the roof & said she was seeing the same thing I was.  I didn't even bother going on my own roof because why?  Baseball sized hits & you're totalled.

The AllSnake estimate only allows for shingles.  Nothing for 
•A/C
• Siding
• Exhaust vent cover
• Column staining
• Detached Rubbermaid shed (damaged skylight & plastic roof)
• Vinyl covered carport shed (from Tractor Supply)
• Screen, etc.

AllSnake didn't send an actual adjuster, they sent an "Investigator" & the statement was "I document with photos & submit this to the company."  Wouldn't even use the word "damage".

The insured's 30 year old son walked with me & the "investigator" & the two of us pointed out to him all items listed above... everything as noted... & shown in the pics attached here.

At a minimum I'm going for the whole roof based on volume & all slopes, but for a 20+ year old dimensional, it won't pass the brittle test for repairs.  This is ridiculous.

Again, typical AllSnake bullshit.

*all statements made are my personal & experienced opinion as to the level of quality & responsiveness that AllSnake is providing to their insured clients*
s

[NeverMarryAStripper 21874]

My son is still living with and going to school, but is also working.  He decided he wanted to start paying his bills like phone and insurance.  I have three cars insured with Amica, including his.  I called them to see what it would be if I just split his car off into a separate policy with the exact  same coverages that he could pay.  They said sure, your premium will go down by what we were charging you for his car and his policy will cost him 250% of what you were paying for his car.

[UTPhil2006 3805]

Under 25 I presume? 

[C-Man 27188]

1 hour ago, UTPhil2006 said:

Under 25 I presume? 

Most likely. Never makes sense to carve the kids off until they're truly off on their own. As long as it can be proven that you are still financially responsible for them (still living at home and going to school means he is), you are going to get sued in the event they're involved in a serious accident that they're responsible for. What you've seen first-hand is that it's almost always not a money saver either. Have you transferred the title of his vehicle to him and him alone? If you're still on the title the car needs to be on your insurance policy.

[NeverMarryAStripper 21874]

Yes, but he was under 25 on my policy too.  Also, they said he would still qualify for the multiple car discount since we would still have the same number of cars insured with them at the same address.  His credit is also excellent.

[C-Man 27188]

1 hour ago, NeverMarryAStripper said:

Yes, but he was under 25 on my policy too.  Also, they said he would still qualify for the multiple car discount since we would still have the same number of cars insured with them at the same address.  His credit is also excellent.

Beats me if they’re still giving the multi-car discount. Probably something in their matrix that doesn’t allow some blended rate on a one-operator policy whereas his youthful status is “smoothed” every-so-slightly when on your policy.

[Nice Guy Eddie 13509]

catching up on this thread which got me to check my policy premium increases over the last 12 months.

Auto: 20%

Home: 23%

Umbrella: 2%

FYI, my $1m umbrella coverage is only $190 per year. No idea why some pay so much more, I can only assume there are specific reasons based on their situation or history.

Edited June 3 by Nice Guy Eddie

[C-Man 27188]

On 6/3/2024 at 10:12 AM, Nice Guy Eddie said:

catching up on this thread which got me to check my policy premium increases over the last 12 months.

Auto: 20%

Home: 23%

Umbrella: 2%

FYI, my $1m umbrella coverage is only $190 per year. No idea why some pay so much more, I can only assume there are specific reasons based on their situation or history.

It's as simple as different insurance companies have different rates. Also price goes up dependent on the underlying exposures. An insured with primary home, a lake house, four cars, four drivers (including youthful operators), a boat and jet skis is going to pay for more for an umbrella than somebody with one home, two vehicles and two drivers. Jet skis really start to raise umbrella rates. Also of note is most carriers don't offer additional uninsured/underinsured motorist coverage on umbrella policies.

[ChickenSandwich 9827]

Home, Auto and landlord all up another 20% since last years increase. 
 

Make it stop

[T’Boo Ted Marshall 2732]

It's as simple as different insurance companies have different rates. Also price goes up dependent on the underlying exposures. An insured with primary home, a lake house, four cars, four drivers (including youthful operators), a boat and jet skis is going to pay for more for an umbrella than somebody with one home, two vehicles and two drivers. Jet skis really start to raise umbrella rates. Also of note is most carriers don't offer additional uninsured/underinsured motorist coverage on umbrella policies.

99% of jet ski drivers are buffoons.

[SydneyCarton 48054]

On 4/29/2024 at 2:36 PM, cabowabo said:

It's my favorite time of year again.  Got my 6 month car insurance renewal from Progressive and it's gone up to $3,479 from $2,595 for six months.  This is with 4 cars and me, the wife, and 19 year old son on the policy.  2017 Hyundai Ioniq (liability only), 2018 Volvo XC90 (full coverage), 2022 Nissan Rogue (full coverage) and 2023 Tesla Model 3 Performance (full coverage).  This includes all the fabulous discounts I get including bundling my home insurance.  So, $7,000 per year for fucking car insurance.  Just got a quote from Geico and it was $4,300 or so for 6 months.  Any other companies I should look at before I lube up my butthole? 

I'll chime in. My 12 month renewal with my guys in Houston went up 40% for car, and it looks like my mortgage went up $150 a month becuase of insurance as well. My insurance guys in Houston bascially said "Providers don't even want to cover guys they already have." This is all of us paying for Florida hurricanes and Cali wildfires, right?

 

[conVINCEd 21469]

4 hours ago, SydneyCarton said:

I'll chime in. My 12 month renewal with my guys in Houston went up 40% for car, and it looks like my mortgage went up $150 a month becuase of insurance as well. My insurance guys in Houston bascially said "Providers don't even want to cover guys they already have." This is all of us paying for Florida hurricanes and Cali wildfires, right?

 

Because Houston never has catastrophic weather events.

[SydneyCarton 48054]

1 hour ago, conVINCEd said:

Because Houston never has catastrophic weather events.

Yes. But my insurance stayed relatively the same through 10 years, including multiple hurricanes, floods, ice storms, whatever. And never heard a peep about shit. But in the last two years whole insurance companies are talking about pulling out of states a because of catastrophic financial losses and yet even more catastrophic than usual weather events, and we see changes in Texas policy. You think it took insurance actuaries 6 years after Harvey and the Memorial Day floods to put pen to paper and raise rates in Texas? 
 

also my insurance guys response when I made this comment to them was “Well, I’d never say that, but…”

 

 

Edited June 7 by SydneyCarton

[conVINCEd 21469]

25 minutes ago, SydneyCarton said:

Yes. But my insurance stayed relatively the same through 10 years, including multiple hurricanes, floods, ice storms, whatever. And never heard a peep about shit. But in the last two years whole insurance companies are talking about pulling out of states a because of catastrophic financial losses and yet even more catastrophic than usual weather events, and we see changes in Texas policy. You think it took insurance actuaries 6 years after Harvey and the Memorial Day floods to put pen to paper and raise rates in Texas? 
 

also my insurance guys response when I made this comment to them was “Well, I’d never say that, but…”

 

 

 If the actuaries had any say in the matter anyone within 50 miles of the Gulf  would be uninsurable.  Politics dictate otherwise.  If anyone wants to complain about their insurance rates they should consider living in a place that is not in a disaster zone.

[locodos 5387]

11 hours ago, conVINCEd said:

 If the actuaries had any say in the matter anyone within 50 miles of the Gulf  would be uninsurable.  Politics dictate otherwise.  If anyone wants to complain about their insurance rates they should consider living in a place that is not in a disaster zone.

Cool,

So everyone should live where there aren't any wildfires, floods, tornados, hurricanes, volcanos, blizzards, tsunamis, or earthquakes.   Where is this now?

 

[locodos 5387]

17 hours ago, SydneyCarton said:

I'll chime in. My 12 month renewal with my guys in Houston went up 40% for car, and it looks like my mortgage went up $150 a month becuase of insurance as well. My insurance guys in Houston bascially said "Providers don't even want to cover guys they already have." This is all of us paying for Florida hurricanes and Cali wildfires, right?

 

Nope, Hurricane insurance companies are state based (at least in Florida) to isolate risk to a company that can just roll the dice and pay shareholders and fold if snake eyes hits.  The state of Florida is just expected (historically) to step in and make homeowners whole. 

Someone help me out here, but I think that flood risk is nationalized, hurricane risk is not.  

 

[SydneyCarton 48054]

1 hour ago, locodos said:

Nope, Hurricane insurance companies are state based (at least in Florida) to isolate risk to a company that can just roll the dice and pay shareholders and fold if snake eyes hits.  The state of Florida is just expected (historically) to step in and make homeowners whole. 

Someone help me out here, but I think that flood risk is nationalized, hurricane risk is not.  

 

Then why are all those insurance companies pulling out of doing business in Florida?

https://www.pnj.com/story/money/2023/07/12/florida-insurance-crisis-farmers-insurance-home-insurance-what-to-know/70407302007/

 

[locodos 5387]

3 hours ago, SydneyCarton said:

Then why are all those insurance companies pulling out of doing business in Florida?

https://www.pnj.com/story/money/2023/07/12/florida-insurance-crisis-farmers-insurance-home-insurance-what-to-know/70407302007/

 

1. Because climate change is even making the old grifty model of milking premiums during the quiet years and going bankrupt in bad years untenable.  
2. Cost of building (rebuilding is sky high)
3. Insurance fraud or GASP! homeowners suing insurance companies to honor their policies

[Quagmire 2147]

Moved into my house in 2020, insurance was 2200 then , new renewal came in at 7500. Tripled in 4 years , fuck these companies in their asses

[Okie State 3812]

On 6/6/2024 at 1:16 PM, SydneyCarton said:

I'll chime in. My 12 month renewal with my guys in Houston went up 40% for car, and it looks like my mortgage went up $150 a month becuase of insurance as well. My insurance guys in Houston bascially said "Providers don't even want to cover guys they already have." This is all of us paying for Florida hurricanes and Cali wildfires, right?

 

I was told if I didn't already have my policy I could not get it again. Seems insane to me. I don't know how this ends, but it doesn't seem good.

[SydneyCarton 48054]

1 hour ago, locodos said:

1. Because climate change is even making the old grifty model of milking premiums during the quiet years and going bankrupt in bad years untenable.  
2. Cost of building (rebuilding is sky high)
3. Insurance fraud or GASP! homeowners suing insurance companies to honor their policies

So what happens in FL?

[Chewbacca 7767]

Cool,
So everyone should live where there aren't any wildfires, floods, tornados, hurricanes, volcanos, blizzards, tsunamis, or earthquakes.   Where is this now?
 

Don't forget hail.

[ROFL BOX 6647]

4 hours ago, Chewbacca said:

19 hours ago, locodos said:

Cool,
So everyone should live where there aren't any wildfires, floods, tornados, hurricanes, volcanos, blizzards, tsunamis, or earthquakes.   Where is this now?
 

Don't forget hail.

i wont.

[C-Man 27188]

On 6/6/2024 at 1:16 PM, SydneyCarton said:

I'll chime in. My 12 month renewal with my guys in Houston went up 40% for car, and it looks like my mortgage went up $150 a month becuase of insurance as well. My insurance guys in Houston bascially said "Providers don't even want to cover guys they already have." This is all of us paying for Florida hurricanes and Cali wildfires, right?

 

It's everything -- in some way, we're all paying for natural disasters all over the US. Some just pay more than others. We get everything in Texas -- hurricanes, tornadoes, hail, flooding, serious winter storms, wildfire, etc. The biggest problem is that the number of major cat events has exploded in the last 10 years. Blame whatever you want -- climate change, global politics leading to wars, recessions and so on. The insurance companies have lost their asses the last few years and now reinsurance rates are sky high. Honestly, I don't know where it ends because I don't see how people can absorb 25-40 (or more) percent rate increases several years in a row. Florida and California are even worse. They're forecasting an especially busy US hurricane season too so we've got that going for us, which isn't nice.

 

On 6/7/2024 at 6:58 AM, locodos said:

Nope, Hurricane insurance companies are state based (at least in Florida) to isolate risk to a company that can just roll the dice and pay shareholders and fold if snake eyes hits.  The state of Florida is just expected (historically) to step in and make homeowners whole. 

Someone help me out here, but I think that flood risk is nationalized, hurricane risk is not.  

 

There is a NFIP program (national) but also many carriers have their own flood programs. A lot of coastal properties need three different policies -- regular homeowner, flood and wind.

This is the hardest market anybody currently working in the P&C insurance world has ever seen from a property standpoint. And I don't know where it stops. It's brutal out there. There is a point where people will no longer be able to afford insurance if rates continue going up.

[locodos 5387]

28 minutes ago, C-Man said:

There is a NFIP program (national) but also many carriers have their own flood programs. A lot of coastal properties need three different policies -- regular homeowner, flood and wind.

This is the hardest market anybody currently working in the P&C insurance world has ever seen from a property standpoint. And I don't know where it stops. It's brutal out there. There is a point where people will no longer be able to afford insurance if rates continue going up.

Yup, I've got 3 policies.   At some point, this will become an issue that will force politicians to respond (fuck knows how that's going to go).  But couple the rise in insurance cost with record high real-estate prices...  that's gotta be a nut punch for potential new home sales.   I don't know how kids out of college are going to afford to live.

signed - dad with two kids in college

Edited June 10 by locodos

[Sandman 3403]

My homeowner's insurance went up another $500. My house is around 50 years old and I'm paying $3700 a year. My coworker (we live in OK and are in different counties) told me he pays under $2000 for his nearly new house, so I got an online quote from his place. $3550 for them. He said his girlfriend has a bigger, newer house and pays $2100 with Progressive. I got their quote and it was $3111. I got an online quote from Amica, $6700!!!!

What the actual fuck?? 

[MonkeyDoughnut 10229]

42 minutes ago, Sandman said:

My homeowner's insurance went up another $500. My house is around 50 years old and I'm paying $3700 a year. My coworker (we live in OK and are in different counties) told me he pays under $2000 for his nearly new house, so I got an online quote from his place. $3550 for them. He said his girlfriend has a bigger, newer house and pays $2100 with Progressive. I got their quote and it was $3111. I got an online quote from Amica, $6700!!!!

What the actual fuck?? 

Homeowners is like life insurance, you're going to pay more as it gets older

[ROFL BOX 6647]

9 hours ago, Sandman said:

My homeowner's insurance went up another $500. My house is 50 years old.

What the actual fuck?? 

Like @MonkeyDoughnut said...

The adage of "They don't make 'em like they used to" is correct.  Modern building codes & products are vastly superior to 40... 50 + years ago.

 

Electrical code, AC efficiency, water systems... all are better in a modern structure.

Plus, there's the "They obviosly aren't smart enough to NOT live in okie" penalty @ work here.